Nov 3, 2017

Daily briefing: iPhone X powers Apple, China’s panda diplomacy, minding the gap

With its premium iPhone X going on sale around the world on Friday, Apple has confidently predicted the current quarter will be the biggest in its history. Its last quarter was not that bad either: it reported revenues rose 12 per cent to $52.6bn and profits were up 19 per cent at $10.7bn as it sold 47m regular iPhones. The news sent its stock into record territory - the shares are up 3 per cent at $173.14 in pre-market trading in New York and have risen 45 per cent in the year to date. Despite cutting the top corporate tax rate from 35 per cent to 20 per cent, the proposal provoked a backlash from business, with the US Chamber of Commerce saying "a lot of work remains to be done". Minding the gapIt was not until Jessica Brown's husband told her that she realised just how much less she had been paid than her male colleagues over a 13-year career as a portfolio manager at a global fund company.

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