News That Matters

Tag: fall

Retail loan EMIs set to fall post RBI’s rate cut

Retail loan EMIs set to fall post RBI’s rate cut

Finance
The central bank's decision to reduce the benchmark interest rate on Thursday for the second bi-monthly monetary policy review in succession has now put the ball in the court of banks to see that RBI's action translates into cheaper loans for consumers. Muted growth and subdued inflation prompted the RBI on Thursday to lower its key lending rate for commercial banks by 25 basis points (bps) to 6 per cent. If the banks now decide cut interest rates in line with the RBI's policy rate cut, housing, auto, education loans would become cheaper while the EMI burden on retail consumers would fall. A state-run bank official here said there is likely to be a transmission of least 15 per cent of the RBI's cut in its repo, or short-term lending rate for commercial banks, and borrowers could look forwa...
Ancient feces links climate change to fall of prehistoric city Cahokia

Ancient feces links climate change to fall of prehistoric city Cahokia

Science
Feb. 26 (UPI) -- By measuring fecal remains and climate data among ancient lake cores from Illinois' Horseshoe Lake, researchers were able to link climate change to the decline of Cahokia, a pre-Columbian Native American city located across the Mississippi River from present-day St. Louis. "The way of building population reconstructions usually involves archaeological data, which is separate from the data studied by climate scientists," researcher A.J. White said in a news release. "One involves excavation and survey of archaeological remains and the other involves lake cores. We unite these two by looking at both kinds of data from the same lake cores." White helped conduct the investigation of Cahokia while he was a grad student at California State University, Long Beach. Researchers de...
Apple hints at lower iPhone prices as sales fall

Apple hints at lower iPhone prices as sales fall

Technology
Apple boss Tim Cook has hinted it could lower iPhone prices in some places in an attempt to boost falling sales.Revenue from the iPhone, responsible for most of the firm's profits, fell 15% in its latest financial quarter.Overall the firm's revenue was down 5% from a year ago to about $ 84.3bn (£64.5bn).The slowdown had been expected after the tech giant warned investors earlier this month that revenue would be about $ 84bn, lower than expected.The firm had blamed the issues partly on an economic slowdown in China.But chief executive Tim Cook said customers were also struggling with the firm's high prices.He said a strong dollar, which makes its products comparatively more expensive, had hurt its sales in emerging markets.M...
Ryanair issues profit warning as fares fall

Ryanair issues profit warning as fares fall

Business
Ryanair has cut its profit forecast blaming lower-than-expected air fares. The airline's chief executive, Michael O'Leary, said Ryanair could not rule out having to cut fares further. Fares are expected to fall 7% this winter.He said the low fares were already causing problems for rivals, including Flybe which was rescued last week.Full-year profits are now expected to be in a range of €1.0bn to €1.1bn (£880m to £970m), compared with its previous forecast of €1.1bn to €1.2bn.The profit forecast has been cut despite Ryanair saying it expects to carry more passengers than forecast.It had previously warned on profits in October.Mr O'Leary said there was too much capacity on short-haul routes in Europe this winter, adding that ...
Sainsbury's sees retail sales fall 1.1% over Christmas

Sainsbury's sees retail sales fall 1.1% over Christmas

Business
Sainsbury's has seen sales fall over Christmas after non-food trading was hit by consumer caution.Like-for-like retail sales, which exclude sales from new stores, fell by 1.1% across the Christmas period.General merchandise sales, including at Sainsbury's-owned Argos, fell by 2.3% and overall clothing sales by 0.2%.Chief executive Mike Coupe said: "Retail markets are highly competitive and very promotional and the consumer outlook continues to be uncertain."Toy sales hitHe added: "General merchandise sales grew strongly over the key Christmas weeks and outperformed the market over the quarter. "Sales declined in the quarter due to cautious customer spending and our decision to reduce promotional activity across Black Friday. Clothing performed well, with...