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Tag: Worst

Manufacturing in worst decline for six years as economy fears deepen

Manufacturing in worst decline for six years as economy fears deepen

Business
By John-Paul Ford Rojas, business reporter Britain's manufacturing sector suffered its worst month since 2013 in June as it endured a hangover from Brexit stockpiling earlier in the year, according to new figures.The downturn - also blamed on reduced exports amid a global slowdown - prompted factory employers to cut jobs for the third month in a row and added to fears over the wider economy. It comes after the Bank of England recently cut its UK growth forecast for the second quarter to zero, as no-deal Brexit fears and the US-China trade war weigh on demand.Other forecasters think UK GDP is likely to have shrunk in the April-June period.The latest reading of 48.0 from the closely-watched IHS Markit/CIPS manufacturing purchasing managers' index (PMI) ...
Climate change: England flood planners ‘must prepare for worst’

Climate change: England flood planners ‘must prepare for worst’

Science
England’s flood planners must prepare for the worst on climate change, the Environment Agency has warned.Its chairwoman, Emma Howard Boyd, said on current trends, global temperature could rise between 2C and 4C by 2100 and £1bn a year would need to be spent on flood management.She said some communities may even need to move because of the risk of floods.The government said it would be seeking evidence for its own flood policy in the autumn.Ms Howard Boyd, launching the consultation on the agency’s flood strategy, said government policy should ensure that all publicly-funded infrastructure is resilient to flooding and coastal change by 2050. “We can’t win a war against water by building away climate change with infinitely high fl
Apple sees iPhone sales recovery ahead despite worst decline

Apple sees iPhone sales recovery ahead despite worst decline

Business
By James Sillars, business reporter Apple shares have surged after the iPhone maker raised its forward guidance amid early signs of a recovery in premium handset sales.The tech firm said that while iPhone sales declined at their sharpest rate in the second quarter of its financial year - by 17% on a year earlier - a resurgence of sales in China towards the end of the period gave it more confidence. It reported iPhone revenue of $ 31bn between January and March - a figure that was still above Wall St estimates while its main area of growth, from services such as Apple Music and the App Store, hit $ 11.45bn - a rise of 16%.Total revenue came in at $ 58bn, a decline of 5%, reflecting the weaker iPhone sales. Image: App...
Mattel has worst day in nearly 20 years after undercutting analysts' 2019 estimates

Mattel has worst day in nearly 20 years after undercutting analysts' 2019 estimates

Finance
Toymaker Mattel had its worst trading day in nearly 20 years on Friday after the company posted weaker-than-expected full-year 2019 guidance during an analyst meeting in New York. Shares of the company finished the day down more than 18 percent. The company said it expects adjusted EBITDA to be in a range of $ 350 million to $ 400 million for 2019, below analysts' expectations of $ 551.6 million, according to FactSet data. The company also expects sales to be flat in 2019 when adjusted for currency. "Either they are super lowballing or the company is falling apart," Lin...