It sold 61.2 million iPhones in the first three months of 2015 compared to the estimated 58.1 million expected. Sales of the iPad, however, hit only 12.6 million, 23% less than the expected 13.6 million. Apple said China is now its second largest market, overtaking Europe, and it increased its share buyback program to a total of $200 billion, to be used by March 2017.
3 hours ago
Time Warner is looking for another merger opportunity.
The telecom company is open to a merger with Charter Communications, a smaller peer that made an unsolicited buyout offer two years ago, according to Reuters. Time Warner recently ended a potential $45 billion tie-up with Comcast.
1 hour ago
Chinese electric vehicle maker BYD plugged into profits.
The world’s biggest electric bus maker, part-owned by Warren Buffet, posted a nine-fold increase in first-quarter profit, to 120.9 million yuan ($19.4 million), on rising demand for its “new-energy” vehicles. The company also won a contract to produce 10 buses for California’s Long Beach Transit Authority, with an option to make another 50.
1 hour ago
Worrying signs from Japan’s economy.
Retail sales fell by a worse-than-expected 9.7% in March, raising doubts about consumer confidence and putting more pressure on the central bank to introduce new stimulus measures. The year-on-year decline was partially caused by a surge in spending last March, as consumers raced to beat a looming sales tax increase.
59 mins ago
LG tries to take a bite out of Samsung.
Samsung’s Galaxy S6 is being called the best smartphone running Google’s Android operating system, but that may change when LG’s new G4 is released. Details have already been leaked, but a press conference will shed some light on availability and pricing.
58 mins ago
Rioting erupts in Baltimore.
An angry protest following the funeral of Freddie Gray, a black man who died in police custody earlier this month, turned violent, leading to 27 arrests and 15 police injuries. The city declared a curfew, and Maryland governor Larry Hogan deployed the National Guard.