Apple’s weakening dominance in profits is partially due to the popularity of its cheaper models, as well as the stronger performance of rivals. “This is the first time the cumulative profits of Chinese brands crossed US$1.5 billion in a single quarter,” said Counterpoint associate director Tarun Patha. “Usually all the profits have been shared by just two brands – Samsung and Apple – however, Chinese brands have made inroads here.” Source South China Morning Post
Exxon Mobil has evacuated all of its foreign staff from Iraq’s West Qurna 1 oilfield and is flying them out to Dubai, a senior Iraqi official and three other sources told Reuters on Saturday. Source: Reuters
The latest round of tax cuts and handouts announced by the Greek government mean that Europe’s most indebted state will probably miss an agreed target for a budget surplus excluding interest payments, the head of the euro-area’s crisis fund said. The shortfall will deteriorate further next year, Klaus Regling warned after a meeting of the bloc’s finance ministers in Brussels. Source: Bloomberg
A tanker carrying Iranian fuel oil in violation of U.S. sanctions has unloaded the cargo into storage tanks near the Chinese city of Zhoushan, according to ship tracking data on Refinitiv Eikon. Source: Reuters
