Trump says Apple will be fine should still move iPhone production to

first_imgMark Wilson / Getty Images President Donald Trump is chiming in on Apple’s sales warning from earlier this week, an announcement that prompted a quick drop in the iPhone maker’s stock price.”They’re gonna be fine,” Trump said Friday at a White House news conference. “Apple is a great company.”In a letter to investors Wednesday, Apple CEO Tim Cook said revenue in the company’s fiscal first quarter would be lower than expected, a rare occurrence from one of the most valuable and profitable companies in the world. Apple shares fell 7 percent to $147 in trading after the market close on Wednesday. Shares fell another 9.5 percent to $142.88 on Thursday morning, before rebounding 1.6 percent to $144.52 in early Friday trading.Trump said Apple’s stock price has gone up “hundreds of percent” since he’s been president, but added that he wants the company to make its iPhone and other products in the US. “Don’t forget this: Apple makes their product in China,” Trump said. “I told Tim Cook, who’s a friend of mine who I like a lot, ‘Make your product in the United States. Build those big, beautiful plants that go on for miles, it seems. Build those plants in the United States.’…China is the biggest beneficiary of Apple, more than us, because they build their product mostly in China.”Neither Apple nor the White House immediately responded to requests for comment. Comments reading • Trump says Apple will be ‘fine,’ should still move iPhone production to US See it $999 Best Buy $999 • See It See It Aug 31 • iPhone XR vs. iPhone 8 Plus: Which iPhone should you buy? Preview • iPhone XS is the new $1,000 iPhone X Boost Mobile Apple iPhone XS Review • iPhone XS review, updated: A few luxury upgrades over the XR 9 Phones Politics Aug 31 • Your phone screen is gross. Here’s how to clean it Mentioned Above Apple iPhone XS (64GB, space gray) See All Aug 31 • Best places to sell your used electronics in 2019 Sprint Share your voice Apple Sep 1 • iPhone 11, Apple Watch 5 and more: The final rumors $999 See It CNET may get a commission from retail offers. $999 Tags Applelast_img read more

Sensex hits record high banks rally

first_imgA man ties a balloon to the horns of a bull statue at the entrance of the Bombay Stock Exchange (BSE) while celebrating the Sensex index rising to over 30,000, in Mumbai, India April 26, 2017.Reuters fileThe Sensex hit a record high late in the session on Thursday as banks rallied on continued hopes of central bank and government action to tackle bad debt in the sector, with sentiment further boosted by gains in Asian shares.The benchmark Sensex rose 1.48 percent to end at 30,750.03 points, after earlier climbing to a record high of 30,793.43.Banking stocks surged, with the Nifty Bank Index rising as much as 3.25 percent to a record high.last_img

Russia slams N Korea nuclear test

first_imgRussia urged calm on Sunday as it slammed North Korea after Pyongyang said it successfully tested a hydrogen bomb.“This latest demonstrative disregard by Pyongyang of the requirements of the relevant resolutions of the UN Security Council and the norms of international law deserves the strongest condemnation,” the foreign ministry in Moscow said.The ministry said it regretted that the leadership of North Korea was “creating a serious threat” for the region and warned that “the continuation of such a line is fraught with serious consequences” for Pyongyang.“In the unfolding conditions, it is imperative to remain calm and to refrain from any actions that lead to a further escalation of tension,” a statement said.“We call on all interested parties to immediately return to dialogue and negotiations as the only possible way for an overall settlement of the problems of the Korean peninsula,” it said.The ministry insisted Moscow remained committed to a joint Russian-Chinese proposal that would see Pyongyang halt weapons tests in return for the US suspending military exercises in the region.last_img read more