Slow iPhone sales prompt Apple to cut revenue outlook

Apple Inc. cut its revenue outlook for the first time in almost two decades citing weaker demand in China, triggering a slump for Asian suppliers and a wave of lower price targets on Wall Street. Chief Executive Officer Tim Cook said sales will be about $84 billion in the quarter ended Dec. 29, down from […]

Italian bank Carige put under administration for capital woes

Rome: The European Central Bank took the unprecedented step of placing the cash-strapped Italian lender Banca Carige SpA in temporary administration, a move that could be a prelude to a sale or merger. The administrators and a three-member surveillance committee will focus on reducing balance sheet risk and finding a possible partner for the bank, […]