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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...
I-T department allows manual filing by resident, NRI taxpayers for nil or lower TDS certificate

I-T department allows manual filing by resident, NRI taxpayers for nil or lower TDS certificate

Finance
NEW DELHI: The income tax department Monday allowed manual filing of form by resident and NRI taxpayers wanting to apply for deduction of taxes at a lower or nil rate on total income. The Income Tax Act, 1961, provides that if a taxpayer considers that his total income warrants deduction of income tax at lower/ nil rate, he may apply to the assessing officer (AO) requesting for lower withholding certificate. Such application was to be e-filed by filling up Form 13. However, to remove "genuine hardship" being faced by certain applicants in filing online application in Form 13, the tax department has allowed non-resident Indians (NRIs) to file manual application before the TDS officer or in ASK Centres till March 31, 2019, a finance ministry statement said. Also, resident applicants can file...
Cheaper food drives UK inflation lower in September

Cheaper food drives UK inflation lower in September

Business
The UK inflation rate fell more than expected in September after hitting a six-month high in August.The Office for National Statistics said the fall to 2.4%, down from 2.7%, was largely driven by lower prices for food and non-alcoholic drinks.The Consumer Prices Index figure surprised economists who had been expecting inflation to fall to 2.6%.The result is expected to ease pressure on the Bank of England to raise interest rates in the near future.Andrew Wishart, UK economist at Capital Economics, said: "With inflation in line with the Bank of England's forecast, and measures of domestically generated cost pressures, such as core inflation and services inflation falling back, this reduces any pressure on the MPC to act again before it can assess the likel...
Europe stocks sharply lower after US and Asia sell-off

Europe stocks sharply lower after US and Asia sell-off

Business
European stocks were sharply down in morning trade after concerns about a trade war and higher US bond yields stoked global investor concerns.In London, the FTSE 100 index of leading UK shares was down more than 1.7% at 7,020.Markets in Asia had plunged to a 19-month low after US shares suffered their worst losses in eight months.The global sell-off came as IMF head Christine Lagarde said stock market valuations have been "extremely high". In Paris, the Cac 40 share index was down 1.6% at 5,122 points, while in Frankfurt the Dax index fell nearly 1.5%.The FTSE 100 and the Cac 40 have fallen to their lowest levels since April, while the Dax is at its lowest since early 2017. ...
Public pensions are paying higher fees for lower returns, Pew study finds

Public pensions are paying higher fees for lower returns, Pew study finds

Finance
Public pension plans are spending more than $ 2 billion a year in fees on high-cost, risky investments to boost returns. But those bets haven't been paying off, according a report Wednesday from the Pew Charitable Trusts. The higher cost comes as public pension fund managers try to make up for a steep shortfall brought by years of underfunding and lackluster investment returns. As of fiscal 2016, the latest data available, state pension funds tracked by Pew had a combined $ 1.4 trillion deficit – up $ 295 billion from 2015 and the 15th annual increase in pension debt since 2000. State public pension plans have assets of...