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Wednesday, 1 February 2017

Earnings season in America dominates international business headlines

It’s earnings season in America, with top global names reporting yesterday including Apple and Under Armour. The season in Egypt also kicked off yesterday as CIB filed 4Q/FY2016 results, but don’t look for a crush of Egyptian filings until late February through March. Among the international business headlines making news on a day in which the world remains transfixed by The Donald:

  • Strong demand for the iPhone 7 Plus and the Mac’s return to growth helped fuel better-than-expected sales at Apple, CNBC reports in a comprehensive roundup of the tech giant’s results. Business Insider drills into the numbers and has a live-blog of Apple’s earnings call.
  • Shares of “athleisure” maker Under Armour tanked yesterday, falling as much as 28% before closing the day down just over 25% after the sportswear company guided on 2017 sales growth that was about half what analysts had expected, Reuters reports.
  • China’s corruption crackdown is back in the headlines: “A Chinese bn’aire with connections to top Beijing leaders has been abducted from the Four Seasons Hotel in Hong Kong by Chinese public security agents and taken to the mainland, according to two people familiar with the investigation,” CNBC notes.

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