Receive Breaking News updates as they occur
(Reuters) - Apple Inc's smaller-than-expected margin forecast sent the company's shares down nearly 4 percent on Wednesday and raised concerns about its ability to capitalize on high demand for its bigger screen phones that bring in more money. Apple on Tuesday forecast profit margins of 38.0-38.5 percent for the current quarter, below the average analyst estimate of 38.8 percent. Strong demand for the iPhone 7 Plus, which features two cameras, caught Apple off-guard, resulting in a supply crunch that is expected to affect holiday sales.
Jihadists with the Islamic State group were shaving their beards and changing hideouts in Mosul, residents said, as a major Iraqi offensive moved ever closer to the city on Wednesday. With pressure building on the 10th day of the Mosul assault, Western defence chiefs were already looking ahead to the next target -- IS's other major stronghold of Raqa in Syria. Recent advances on the eastern front have brought elite Iraqi forces to within five kilometres (three miles) of Mosul, and several residents reached by AFP said the jihadists seemed to be preparing for an assault on the city itself.
The global gap in earnings between men and women will not be closed for another 170 years if current trends continue, according to a new report from the World Economic Forum. The Switzerland-based forum's ...