Yerevan, 20.January.2018,
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Business

Apple iPhone sales fall, but beat estimates
Apple has reported its third quarter in a row of falling iPhone sales and revenue, but sales beat analyst expectations. The tech giant sold 45.51 million iPhones in the three months to 24 September, beating an average estimate of 44.8 million. The company also forecast higher-than-expected holiday season revenue of between $76bn and $78bn. But revenue in the fourth quarter fell 9% to $46.85bn. That meant annual revenue fell for the first time since 2001, highlighting a slowdown in the s...
AT&T seeks to buy Time Warner for nearly $86bn
US telecoms giant AT&T has announced that it will buy entertainment group Time Warner for nearly $86bn (£70bn). The deal - one of the biggest this year - still needs approval from regulators. If the takeover goes through, it would combine AT&T's distribution network with content from the Warner Brothers film studios and the cable TV channels HBO and CNN. AT&T's chairman described it as "a perfect match" but critics say it concentrates too much media power. The deal is likel...
Microsoft shares at new high as cloud focus pays off
Microsoft's focus on cloud computing has helped it deliver better-than-expected quarterly profits, sending its shares to an all-time high. The software giant posted a $4.7bn (£3.8bn) profit for the three months to September. Chief executive Satya Nadella has focused on building Microsoft's expertise in cloud-based services amid slowing PC sales. Shares rose 6% to $60.73 in after-hours trading. The previous high was $59.97 in December 1999, close to the peak of the dot-com boo...
UK economy 'faces prolonged weakness', Item Club report says
Britain's economy faces a "prolonged period" of weaker growth as consumer spending slows and business curbs investment, according to a report. Although the EY Item Club think tank predicts the economy will grow 1.9% this year, it expects that performance to fizzle out as inflation rises. The economy's stability since June's Brexit vote was "deceptive", EY said. Meanwhile, a senior Bank of England official told the BBC that inflation may surpass its 2% target. The Bank's deputy governor Ben B...
Samsung takes £4.4bn hit to profits from Note 7 fallout
The total cost of pulling Galaxy Note 7 smartphones off the market will be at least £4.4bn ($5.4bn), Samsung said. The South Korean tech giant had already lowered its third-quarter profit guidance by £1.9bn ($2.3bn). On Friday, it said it expected an additional hit of about 3.5 trillion won ($3bn, £2.5bn). The Note 7 was recalled last month after battery fires, but when replacement phones experienced the same problem, Samsung scrapped the device. The premium ...
Samsung slashes profit forecast over Galaxy Note 7 crisis
Samsung Electronics has slashed its quarterly profit forecast due to the scrapping of its Note 7 smartphone. The South Korean firm now expects third quarter profits of 5.2tn won ($4.7bn; £3.8bn), which is a third lower than its original estimate of 7.8tn won. The Note 7 was recalled last month after battery fires, but after replacement phones experienced the same problem, Samsung scrapped the device. Ahead of the profit warning, Samsung shares fell 0.8% on Wednesday. That added to Tues...
Samsung permanently stops Galaxy Note 7 production
South Korean tech giant Samsung has permanently ceased production of its high-end Galaxy Note 7 smartphones after reports of devices it had deemed safe catching fire. The firm had already reduced Galaxy Note 7 production volumes. Owners are expected to be able to return the phones for a refund or an exchange for a different Samsung phone. The firm had earlier said it would stop sales of the phone. "We recently readjusted the production volume for thorough investigation and quality contr...
Samsung Galaxy Note 7 owners told to turn off device
South Korean tech giant Samsung has urged owners of the Galaxy Note 7 to turn off its high-end smartphone while it investigates new reports of the device catching fire. The firm also said it would stop all sales of the phone. Samsung recalled 2.5 million phones in September after complaints of exploding batteries, and later insisted that all replaced devices were safe. But there are now reports that even those phones were catching fire. A man in Kentucky said he woke up to a bedroo...
Spielberg and Alibaba in global movie tie-up
China's Alibaba Pictures has teamed up with Steven Spielberg's Amblin Partners to co-operate on the production and distribution of films across China and the US. "We can bring more of China to America, and some more of America to China," as Mr Spielberg described the deal. The tie-up is the latest to involve a Chinese company and the US movie industry. China is soon expected to overtake the US as the industry's biggest market. The two sides said they would co-produce movies for a global and ...
Samsung 'pauses Note 7 production', say media reports
Smartphone giant Samsung has reportedly stopped production of its Note 7 phone amid claims that replacement devices still have critical battery issues. Reuters and South Korea's Yonhap news agency cited unnamed officials claiming the company had temporarily halted its Galaxy Note 7 production lines. Samsung told the BBC it was "adjusting the production schedule to ensure quality and safety matters". The move came as two US networks stopped replacing or selling the phone. Samsung sa...
Flash crash sees the pound gyrate in Asian trading
The pound has dived on Asian markets with automated trading being blamed for the volatility. At one stage it fell as much as 6% to $1.1841 - the biggest move since the Brexit vote - before recovering to $1.24, still down 1.5%. It is not clear what triggered the sudden sell-off. Analysts say it could have been automated trading systems reacting to a news report. The Bank of England said it was "looking into" the flash crash. The sharp drop came after the Financial Times published a story onli...
Facebook launches Marketplace to rival eBay, Gumtree and Craigslist
Facebook has launched a Marketplace feature to let people buy and sell items locally, in a move that could rival sites like eBay and Craigslist. The new feature will debut in the US, the UK, Australia and New Zealand, the firmsaid in a blog post. A smartphone app will be made available in the next few days with a desktop version due in the coming months. The new feature puts Facebook in direct competition with increasingly popular local online selling platforms. The social media site is alre...
Deutsche Bank shares open at record lows in Europe
Shares in troubled Deutsche Bank have hit new lows in European trading as confidence in the bank continues to falter. The shares extended losses overnight in New York trading to fall below €10 (£8.60) for the first time ever. The latest slide followed reports that some hedge funds had taken out cash and withdrawn positions in its investment bank. Deutsche Bank has said it is confident most clients understand it is stable. The shares were down 8% at about €10.00 in morning tra...
Samsung in 'exploding washing machines' probe
Samsung has confirmed it is in talks with US consumer watchdogs after a lawsuit against the firm over "exploding" washing machines. The Consumer Product Safety Commission (CPSC) warned of problems with some of Samsung's top-load machines. It comes as a US law firm filed a suit against the South Korean firm, saying the fault can lead to injury or damage. The problems follow Samsung's global recall of its Note 7 smartphone over "exploding" batteries. Both Samsung and the CP...
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