Skip to content
Swiss drugmaker Novartis cut its 2020 sales outlook on Tuesday after second quarter sales and profit fell, as hospitals that stocked up on drugs during the first-quarter due to the COVID-19 pandemic slowed purchases. The Basel-based company cut its 2020 sales outlook, saying it now expects sales to grow in the mid-single digit percentage range, down from its previous expectation for a mid- to high-single-digit percentage increase. Novartis was also more specific on its profit expectations, saying it now expected core operating income to increase by a low double-digit percentage, compared with its earlier view for a high-single to low-double-digit percentage increase....
During the second quarter of 2020, US smartphone sell-through fell 25% year-over-year, according to Counterpoint Research’s preliminary US Smartphone Channel Share Tracker. However Apple (AAPL) had reason to rejoice as Apple volumes grew through the quarter and were especially helped by iPhone SE volumes.“The device has been successful and selling above expectations in both postpaid and prepaid channels,” said Jeff Fieldhack, Counterpoint’s North American Research Director.Since the iPhone SE launched at just $399, carrier stores and national retail have been re-opening, with some channels offering large promotions to draw shoppers back to stores. According to Counterpoint, this was especially true with Walmart, Metro by T-Mobile and Boost.Encouragingly, the research showed that the iPhone SE boost should not deter from the upcoming 5G rollout. “Our checks show that iPhone SE sales are unlikely to be cannibalizing fall 5G iPhone sales. iPhone SE buyers are more pragmatic about price, less concerned with 5G,...
Spot gold was up 0.2% at $1,818.23 per ounce by 0510 GMT after hitting its highest since September 2011 on Monday. U.S. gold futures rose 0.2% to $1,821.10. European Union leaders reached a deal on a massive stimulus plan for their coronavirus-blighted economies after a fractious summit that went through the night and into its fifth day....
Spot gold gained 0.4% $1,823.29 per ounce by 0958 GMT after hitting its highest since September 2011. U.S. gold futures rose 0.5% to $1,825.50. "Gold is deriving strength from a broadly weaker dollar despite the improving market mood," said FXTM analyst Lukman Otunuga....
Spot gold was up 0.4% at $1,822.11 per ounce by 0730 GMT after hitting its highest since September 2011. U.S. gold futures rose 0.4% to $1,823.80. European Union leaders reached a deal on a massive stimulus plan for their coronavirus-blighted economies after a fractious summit that went through the night and into its fifth day....
Jul.20 -- Joni Teves, precious metals strategist at UBS Investment Bank, discusses the outlook for gold and silver. Both metals have surged this year as the coronavirus pandemic roiled the global economy, spurring sustained demand for havens even as some lockdowns were eased. Teves speaks with Haslinda Amin and Rishaad Salamat on "Bloomberg Markets: Asia."...
Southeast Asian low-cost carriers, a key growth engine for planemakers and leasing companies for a decade before the pandemic, are faltering financially as demand plunges, raising questions over whether they can replace and double their fleets. Auditors for Malaysia's AirAsia Group Bhd and Vietnam's VietJet Aviation JSC are concerned about cashflows and funding, while Indonesia's Lion Air has put the brakes on a planned flotation....
