Honda Motor Co slashed its annual profit and global sales outlook to a four-year low, citing a firmer yen and bleak&nbsp;business&nbsp;in both India and its main market of North America, even as it unveiled plans to buy back $915 million shares.

The dour outlook comes at a time when Honda is struggling to shore up its automobile operations, with its profitability down more than half in the past two years due to a series of quality-related issues constraining its financial firepower to invest in new vehicle technologies.

Japan's third-largest automaker now expects an operating income of 690 billion yen for the year to March, lowest since the year ended March 2016, from 770 billion yen previously.

It sees the yen averaging 107 versus the dollar over the period, from a previous assumption of 110 yen. A stronger currency eats into profits because exports become more expensive and the value of overseas earnings decreases.

Honda said it had also been hit by an almost 20 per cent&nbsp;slide in motorcycle sales over the six months to September in India. The world's No 4 auto market has gone into a tailspin this year amid tight liquidity, high taxes and a weak rural economy.

"The Indian market is contracting at a very rapid rate," said Honda Executive Vice President Seiji Kuraishi.

"I must say, we are struggling there."

While Honda's vehicle sales were overall flat in its main market of North America in the first half, it expects a "moderate" decline over the course of the fiscal year.

The company cut its outlook for global group auto sales to 4,975,000 vehicles, versus a previous forecast of 5,110,000, for the current financial year.

For a graphic on Honda's operating profit, vehicle sales.

Honda joins compatriots Suzuki Motor Corp, Subaru Corp, Mazda Motor Corp and Mitsubishi Motors Corp in slashing profit projections in recent days.

Toyota bucked the trend and retained its forecast on Thursday. Flush with cash after a stellar second quarter, it also announced a $1.8 billion share buyback.

Honda has said it will buy back up to 33 million shares worth up to 100 billion yen over the rest of the fiscal year.

Nissan Motor is due to report results on Tuesday.

Honda shares closed 1.9 per cent&nbsp;higher ahead of the results announcement. They plumbed a near 7-year low in August and are up 6.3 per cent&nbsp;so far this year.

Honda Motor Co slashed its annual profit and global sales outlook to a four-year low, citing a firmer yen and bleak business in both India and its main market of North America, even as it unveiled plans to buy back $915 million shares.

Honda Motor Co slashed its annual profit and global sales outlook to a four-year low, citing a firmer yen and bleak business in both India and its main market of North America, even as it unveiled plans to buy back $915 million shares. The dour outlook comes at a time when Honda is struggling to shore up its automobile operations, with its profitability down more than half in the past two years due to a series of quality-related issues constraining its financial firepower to invest in new vehicle technologies. Japan's third-largest automaker now expects an operating income of 690 billion yen for the year to March, lowest since the year ended March 2016, from 770 billion yen previously. It sees the yen averaging 107 versus the dollar over the period, from a previous assumption of 110 yen. A stronger currency eats into profits because exports become more expensive and the value of overseas earnings decreases. Honda said it had also been hit by an almost 20 per cent slide in motorcycle sales over the six months to September in India. The world's No 4 auto market has gone into a tailspin this year amid tight liquidity, high taxes and a weak rural economy. "The Indian market is contracting at a very rapid rate," said Honda Executive Vice President Seiji Kuraishi. "I must say, we are struggling there." While Honda's vehicle sales were overall flat in its main market of North America in the first half, it expects a "moderate" decline over the course of the fiscal year. The company cut its outlook for global group auto sales to 4,975,000 vehicles, versus a previous forecast of 5,110,000, for the current financial year. For a graphic on Honda's operating profit, vehicle sales. Honda joins compatriots Suzuki Motor Corp, Subaru Corp, Mazda Motor Corp and Mitsubishi Motors Corp in slashing profit projections in recent days. Toyota bucked the trend and retained its forecast on Thursday. Flush with cash after a stellar second quarter, it also announced a $1.8 billion share buyback. Honda has said it will buy back up to 33 million shares worth up to 100 billion yen over the rest of the fiscal year. Nissan Motor is due to report results on Tuesday. Honda shares closed 1.9 per cent higher ahead of the results announcement. They plumbed a near 7-year low in August and are up 6.3 per cent so far this year.

Honda cuts profit, sales outlook to four-year low; unveils $915 million buyback

Japan's Sharp Corp, an Apple supplier, posted a profit that beat expectations and was its first rise in five quarters, driven by the strength in the laptop business it bought from Toshiba.

Sharp, which makes sensors, camera modules and screens for Apple's iPhones, posted an operating profit of 22.3 billion yen ($206.54 million) for the second quarter ended September, up from 22.2 billion yen a year prior.

That compared with a 19.65 billion yen average of 4 analyst estimates compiled by Refinitiv.

Sharp, a unit of Taiwan's Foxconn, maintained its profit forecast for the year ending March at 100 billion yen, versus a consensus estimate of 82.23 billion yen from 10 analysts.

Sharp took over Toshiba's loss-making laptop unit last year and turned it around, making it a major profit contributor, in a push to regain global presence.

The outlook for Sharp's electronic devices business is also improving as sales at its key customer Apple appear to be stabilising.

While iPhone sales fell 9 per cent&nbsp;in the three months ended September, it was smaller than the drop in recent quarters and better than analyst expectations.

Sharp, which Foxconn, formally known as Hon Hai Precision Industry Co, acquired control of in 2016, is aiming to expand globally by launching high-definition 8K television sets and return to the US&nbsp;TV market.

The Osaka-based firm cut back its overseas TV business and licensed China's Hisense to use its brand in the Americas in 2015 when massive losses at its core display panel unit put its survival at risk. But earlier this year, Sharp said it had effectively regained the license sold to Hisense.

Japan's Sharp Corp, an Apple supplier, posted a profit that beat expectations and was its first rise in five quarters, driven by the strength in the laptop business it bought from Toshiba.

Japan's Sharp Corp, an Apple supplier, posted a profit that beat expectations and was its first rise in five quarters, driven by the strength in the laptop business it bought from Toshiba. Sharp, which makes sensors, camera modules and screens for Apple's iPhones, posted an operating profit of 22.3 billion yen ($206.54 million) for the second quarter ended September, up from 22.2 billion yen a year prior. That compared with a 19.65 billion yen average of 4 analyst estimates compiled by Refinitiv. Sharp, a unit of Taiwan's Foxconn, maintained its profit forecast for the year ending March at 100 billion yen, versus a consensus estimate of 82.23 billion yen from 10 analysts. Sharp took over Toshiba's loss-making laptop unit last year and turned it around, making it a major profit contributor, in a push to regain global presence. The outlook for Sharp's electronic devices business is also improving as sales at its key customer Apple appear to be stabilising. While iPhone sales fell 9 per cent in the three months ended September, it was smaller than the drop in recent quarters and better than analyst expectations. Sharp, which Foxconn, formally known as Hon Hai Precision Industry Co, acquired control of in 2016, is aiming to expand globally by launching high-definition 8K television sets and return to the US TV market. The Osaka-based firm cut back its overseas TV business and licensed China's Hisense to use its brand in the Americas in 2015 when massive losses at its core display panel unit put its survival at risk. But earlier this year, Sharp said it had effectively regained the license sold to Hisense.

Japan's Sharp beats second-quarter profit expectations on laptop business

H&amp;M, the world's second-biggest fashion retailer, reported on Thursday its first quarterly rise in pretax profit in over two years and said efforts to meet rapid changes in its industry were on track.

<a href="https://www.wionews.com/world/hm-suspends-brazil-leather-purchases-over-amazon-fires-247906">H&amp;M</a> has been spending heavily on reviving its business in the face of years of falling profits and growing inventories due to slowing sales at its core brand's stores amid tougher competition and changing shopping habits.

Its shares have spiked 46 per cent this year, and 58 per cent from the 13-year low seen in 2018, on hopes it is getting back on track.

But they are still at just half of their 2015 record level.

Pretax profit in the June through August period beat expectations, growing to 5.0 billion crowns from a year-ago 4.01 billion.

Analysts had on average forecast a rise to 4.93 billion crowns, according to Refinitiv data.

The increase was the Swedish group's first since the second quarter of 2017.

Profit growth was helped by accelerating sales growth on the back of strong demand for summer collections and market share gains.

"The continued development of more full-price sales and reduced markdowns contributed to a 26 per cent increase in operating profit in the third quarter, all while maintaining a high level of activity in our transformation work," CEO Karl-Johan Persson said in a statement.

The operating profit margin rose to 8.0 per cent from 7.1 per cent.

Inventories increased 9 per cent to 42.0 billion crowns at the end of the third quarter, equivalent to 18.5 per cent of sales.

However, H&amp;M said that measured in local currencies, they shrank by 1 per cent while the composition of the stock had kept improving.

Markdowns decreased for a fourth straight quarter, by 2 percentage point in relation to sales.

H&amp;M had in June predicted a 1.5 percentage point decrease.

The company broke the habit by not providing an outlook for markdowns in the current quarter.

H&amp;M said sales in September, the first month of its fourth quarter, grew 8 per cent in local currencies.

H&M, the world's second-biggest fashion retailer, reported on Thursday its first quarterly rise in pretax profit in over two years and said efforts to meet rapid changes in its industry were on track.

H&M, the world's second-biggest fashion retailer, reported on Thursday its first quarterly rise in pretax profit in over two years and said efforts to meet rapid changes in its industry were on track. H&M has been spending heavily on reviving its business in the face of years of falling profits and growing inventories due to slowing sales at its core brand's stores amid tougher competition and changing shopping habits. Its shares have spiked 46 per cent this year, and 58 per cent from the 13-year low seen in 2018, on hopes it is getting back on track. But they are still at just half of their 2015 record level. Pretax profit in the June through August period beat expectations, growing to 5.0 billion crowns from a year-ago 4.01 billion. Analysts had on average forecast a rise to 4.93 billion crowns, according to Refinitiv data. The increase was the Swedish group's first since the second quarter of 2017. Profit growth was helped by accelerating sales growth on the back of strong demand for summer collections and market share gains. "The continued development of more full-price sales and reduced markdowns contributed to a 26 per cent increase in operating profit in the third quarter, all while maintaining a high level of activity in our transformation work," CEO Karl-Johan Persson said in a statement. The operating profit margin rose to 8.0 per cent from 7.1 per cent. Inventories increased 9 per cent to 42.0 billion crowns at the end of the third quarter, equivalent to 18.5 per cent of sales. However, H&M said that measured in local currencies, they shrank by 1 per cent while the composition of the stock had kept improving. Markdowns decreased for a fourth straight quarter, by 2 percentage point in relation to sales. H&M had in June predicted a 1.5 percentage point decrease. The company broke the habit by not providing an outlook for markdowns in the current quarter. H&M said sales in September, the first month of its fourth quarter, grew 8 per cent in local currencies.

H&M posts first quarterly profit rise in over two years

ICICI Bank Ltd, India`s second-largest private lender, reported a quarterly profit on Saturday compared with a loss a year earlier, helped by lower provisions and higher retail loan growth.

Net profit for the quarter ended June 30 was 19.08 billion rupees ($277.04 million), compared with a loss of 1.20 bln rupees in the same period a year ago, the bank said in a statement.

But the profit fell slightly short of the average forecast of 20.87 billion rupees from 19 analysts, according to Refinitiv data.

ICICI, which has been under pressure lately due to rising bad loans, said net non-performing assets at the end of the June quarter were down 51% to $1.17 billion.

Quarterly provisions fell to $507 million from $865 million a year ago.&nbsp;

Net interest margin, a key indicator of the bank`s profitability, was 3.61% in the quarter, compared with 3.19% in the year-ago quarter.

Earlier in the week, ICICI's peer Kotak Mahindra Bank Ltd also reported a profit that fell marginally shy of estimates and joined the country`s largest private lender HDFC Bank in warning of the slowing pace of domestic growth.&nbsp;

The warnings from the private lenders in Asia's third-largest economy, which have been dealing with a large pile of stressed loans, have spooked investors.

ICICI Bank Ltd, India`s second-largest private lender, reported a quarterly profit on Saturday compared with a loss a year earlier, helped by lower provisions and higher retail loan growth.

ICICI Bank Ltd, India`s second-largest private lender, reported a quarterly profit on Saturday compared with a loss a year earlier, helped by lower provisions and higher retail loan growth. Net profit for the quarter ended June 30 was 19.08 billion rupees ($277.04 million), compared with a loss of 1.20 bln rupees in the same period a year ago, the bank said in a statement. But the profit fell slightly short of the average forecast of 20.87 billion rupees from 19 analysts, according to Refinitiv data. ICICI, which has been under pressure lately due to rising bad loans, said net non-performing assets at the end of the June quarter were down 51% to $1.17 billion. Quarterly provisions fell to $507 million from $865 million a year ago. Net interest margin, a key indicator of the bank`s profitability, was 3.61% in the quarter, compared with 3.19% in the year-ago quarter. Earlier in the week, ICICI's peer Kotak Mahindra Bank Ltd also reported a profit that fell marginally shy of estimates and joined the country`s largest private lender HDFC Bank in warning of the slowing pace of domestic growth. The warnings from the private lenders in Asia's third-largest economy, which have been dealing with a large pile of stressed loans, have spooked investors.

Lower provisions help ICICI bank swing to first-quarter profit

Shares of InterGlobe Aviation, the parent company of<a href="https://www.wionews.com/business-economy/indigo-forecasts-strong-year-as-jet-airways-collapse-boosts-profit-222065"> IndiGo airline</a>, rallied over 3 per cent in early trade Tuesday, a day after the company posted a five-fold jump in profit after tax to Rs 589.6 crore for March quarter.

The company had posted a profit of Rs 117.6 crore in the corresponding period of 2017-18. On the BSE, the stock opened on a positive note at Rs 1,705 and jumped 3.18 per cent to Rs 1,716 over its previous close. The scrip opened at Rs 1,698 and further rose 3.23 per cent to Rs 1,716 on the NSE.

InterGlobe Aviation Monday said that its annual net profit for 2018-19 stood at Rs 156.1 crore, which was 93 per cent less than Rs 2,242.4 crore for the 2017-18 fiscal.

IndiGo CEO Ronojoy Dutta said, "Fiscal 2019 was a tough year for the airline industry in India because of high fuel prices, weak rupee and intensely competitive environment."

"However, it is a tale of two halves for IndiGo, with the first half of the year incurring losses and the second half of the year experiencing a sharp recovery," he added.

Shares of InterGlobe Aviation, the parent company of IndiGo airline, rallied over 3 per cent in early trade Tuesday, a day after the company posted a five-fold jump in profit after tax to Rs 589.

Shares of InterGlobe Aviation, the parent company of IndiGo airline, rallied over 3 per cent in early trade Tuesday, a day after the company posted a five-fold jump in profit after tax to Rs 589.6 crore for March quarter. The company had posted a profit of Rs 117.6 crore in the corresponding period of 2017-18. On the BSE, the stock opened on a positive note at Rs 1,705 and jumped 3.18 per cent to Rs 1,716 over its previous close. The scrip opened at Rs 1,698 and further rose 3.23 per cent to Rs 1,716 on the NSE. InterGlobe Aviation Monday said that its annual net profit for 2018-19 stood at Rs 156.1 crore, which was 93 per cent less than Rs 2,242.4 crore for the 2017-18 fiscal. IndiGo CEO Ronojoy Dutta said, "Fiscal 2019 was a tough year for the airline industry in India because of high fuel prices, weak rupee and intensely competitive environment." "However, it is a tale of two halves for IndiGo, with the first half of the year incurring losses and the second half of the year experiencing a sharp recovery," he added.

IndiGo shares rise 3% post Q4 results

Interglobe Aviation Ltd, owner of Indian budget airline IndiGo, forecast a strong year ahead after the collapse of Jet Airways&nbsp;helped the company report a fivefold jump in fourth-quarter profit.

IndiGo, the country's largest airline by market share, gained passengers in recent months after Jet Airways shut down operations in April, having been forced to ground its fleet since early this year.

IndiGo also gained by optimising its domestic network and growing its international routes, Chief Executive Ronojoy Dutta said on an analyst call.

"Jet Airways' cessation of service helped our performance in the last week of February and the whole of March," Dutta said.

Interglobe shares set a record closing high, up 2.5% at 1,662.15 rupees in a broader Mumbai market which ended up 0.7%.

Dutta said the shutdown at Jet increased revenue per available seat kilometre by between 3% and 4%. That number, a measure of the carrier's operating earnings, rose 5.9% in total to 3.63 rupees in January through March.

Jet's troubles have allowed IndiGo and other carriers such as SpiceJet to raise prices on some routes, offsetting some of the losses they faced last fiscal year because of high fuel prices and intense competition.

IndiGo's passenger yield, a measure of airfares, rose 12% during the quarter.

Higher fares

CEO Dutta said Jet's grounding helped IndiGo raise fares, but it will see the boost ease by June except in some international markets. "By and large international routes are doing well. We are happy with the utilisation and profitability," he said.

Available seat kilometres, a measure of the airline's passenger carrying capacity, is expected to rise 30% in the current fiscal year, with half of that in the domestic market and the other half in international, Dutta said.

The airline said that while it is studying the use of wide-body planes on international routes, it does not plan to place an order imminently. It will, however, take deliveries of 53 narrow-body Airbus planes and 11 ATR turboprops in the current fiscal year.

IndiGo has also seen significant improvements over the past year in the performance of engines made by Pratt &amp; Whitney (part of United Technologies), troubles with which had forced it to ground planes in the past, Wolfgang Prock-Schauer, the airline's president and chief operating officer, said on the call.

"For most of the issues resolutions have been found and implemented," Prock-Schauer said, adding the group is working with Pratt on two areas, one of which is expected to be fixed in engines to be delivered from June and the other by September.

Until then the airline has sufficient spare engines, he said.

InterGlobe's profit for the quarter rose to 5.9 billion rupees from 1.18 billion a year earlier.

Interglobe Aviation Ltd, owner of Indian budget airline IndiGo, forecast a strong year ahead after the collapse of Jet Airways helped the company report a fivefold jump in fourth-quarter profit.

Interglobe Aviation Ltd, owner of Indian budget airline IndiGo, forecast a strong year ahead after the collapse of Jet Airways helped the company report a fivefold jump in fourth-quarter profit. IndiGo, the country's largest airline by market share, gained passengers in recent months after Jet Airways shut down operations in April, having been forced to ground its fleet since early this year. IndiGo also gained by optimising its domestic network and growing its international routes, Chief Executive Ronojoy Dutta said on an analyst call. "Jet Airways' cessation of service helped our performance in the last week of February and the whole of March," Dutta said. Interglobe shares set a record closing high, up 2.5% at 1,662.15 rupees in a broader Mumbai market which ended up 0.7%. Dutta said the shutdown at Jet increased revenue per available seat kilometre by between 3% and 4%. That number, a measure of the carrier's operating earnings, rose 5.9% in total to 3.63 rupees in January through March. Jet's troubles have allowed IndiGo and other carriers such as SpiceJet to raise prices on some routes, offsetting some of the losses they faced last fiscal year because of high fuel prices and intense competition. IndiGo's passenger yield, a measure of airfares, rose 12% during the quarter. Higher fares CEO Dutta said Jet's grounding helped IndiGo raise fares, but it will see the boost ease by June except in some international markets. "By and large international routes are doing well. We are happy with the utilisation and profitability," he said. Available seat kilometres, a measure of the airline's passenger carrying capacity, is expected to rise 30% in the current fiscal year, with half of that in the domestic market and the other half in international, Dutta said. The airline said that while it is studying the use of wide-body planes on international routes, it does not plan to place an order imminently. It will, however, take deliveries of 53 narrow-body Airbus planes and 11 ATR turboprops in the current fiscal year. IndiGo has also seen significant improvements over the past year in the performance of engines made by Pratt & Whitney (part of United Technologies), troubles with which had forced it to ground planes in the past, Wolfgang Prock-Schauer, the airline's president and chief operating officer, said on the call. "For most of the issues resolutions have been found and implemented," Prock-Schauer said, adding the group is working with Pratt on two areas, one of which is expected to be fixed in engines to be delivered from June and the other by September. Until then the airline has sufficient spare engines, he said. InterGlobe's profit for the quarter rose to 5.9 billion rupees from 1.18 billion a year earlier.

IndiGo forecasts strong year as Jet Airways collapse boosts profit

Twitter, driven by strong growth overseas, swung to a profit during the first quarter of the year, its second profitable quarter ever after a strong finish last year.

Shares climbed 4 per cent before the market open on Wednesday.&nbspThe company can now say that those good numbers weren't a blip, since it has now notched a first-quarter profit of $61 million. That's down a little from the $91 million it made in the previous three months, but the news is good enough to get the champagne corks popping in San Francisco.

Revenue increased sharply to US $664.9 million from US $548.3 million, bolstered by a 53 per cent jump in international revenue. The performance easily beat the US $609.9 million in revenue that analysts projected.

Daily active users increased 10 per cent, but that's down from 12 per cent growth in the fourth quarter and 14 per cent growth a year ago. It had 336 million monthly average users in the quarter, up from the 330 million in the previous quarter and the 319 million users a year earlier.

Twitter attributes this growth to a number of factors, including the addition of several new products like bookmarks and video timestamps. Efforts to create "new, curated timelines of tweets around breaking news events," are also helping to drive engagement, and eyeballs.

The company is also saying that it's seeing results in its information quality and safety work: euphemisms for a crackdown on malicious bot-and-troll activity.

Twitter's been dealing with several broader problems. It's struggled to get people to sign up, despite the attention President Donald Trump's no-holds barred tweets have drawn to the company.&nbsp

Part of the issue is that anyone can read tweets without signing up. As a result, Twitter's user base pales compared with Facebook and the Facebook-owned Instagram.

Twitter has also wrestled with hate speech and abusive comments, fake accounts and attempts by Russian agents to spread misinformation on the site.&nbsp

Revenue increased sharply to US $664.9 million from US $548.3 million, bolstered by a 53 per cent jump in international revenue. The performance easily beat the US $609.9 million in revenue that analysts projected

Twitter, driven by strong growth overseas, swung to a profit during the first quarter of the year, its second profitable quarter ever after a strong finish last year. Shares climbed 4 per cent before the market open on Wednesday.&nbspThe company can now say that those good numbers weren't a blip, since it has now notched a first-quarter profit of $61 million. That's down a little from the $91 million it made in the previous three months, but the news is good enough to get the champagne corks popping in San Francisco. Revenue increased sharply to US $664.9 million from US $548.3 million, bolstered by a 53 per cent jump in international revenue. The performance easily beat the US $609.9 million in revenue that analysts projected. Daily active users increased 10 per cent, but that's down from 12 per cent growth in the fourth quarter and 14 per cent growth a year ago. It had 336 million monthly average users in the quarter, up from the 330 million in the previous quarter and the 319 million users a year earlier. Twitter attributes this growth to a number of factors, including the addition of several new products like bookmarks and video timestamps. Efforts to create "new, curated timelines of tweets around breaking news events," are also helping to drive engagement, and eyeballs. The company is also saying that it's seeing results in its information quality and safety work: euphemisms for a crackdown on malicious bot-and-troll activity. Twitter's been dealing with several broader problems. It's struggled to get people to sign up, despite the attention President Donald Trump's no-holds barred tweets have drawn to the company. Part of the issue is that anyone can read tweets without signing up. As a result, Twitter's user base pales compared with Facebook and the Facebook-owned Instagram. Twitter has also wrestled with hate speech and abusive comments, fake accounts and attempts by Russian agents to spread misinformation on the site.

Twitter is profitable again in 1st quarter, grows overseas

Farmers in Bihar's Rohtas on Sunday dumped tomatoes on roads and ran vehicles over them in a bid to protest over insufficient profits from the produce.&nbsp

Farmers stated that they hardly earn the profit and did not get fair and adequate prices from the produced tomatoes.&nbsp

The farmers said that they are not even getting wholesale rate of Rs&nbsp1 per kilogram for tomatoes and whereas the cost to bring tomatoes to the market comes at Rs&nbsp2 per kilogram.

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Rohtas based farmers threw away tomatoes on road & ran a vehicle over them alleging they didn't get fair and adequate prices for the product in the market said, 'we haven't even met our expenses & that's why we are protesting on road' <a href="https://twitter.com/hashtag/Bihar?src=hash&ref_src=twsrc%5Etfw">#Bihar</a> <a href="https://t.co/nYCqwyyUxJ">pic.twitter.com/nYCqwyyUxJ</a>
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A farmer said, "I spent Rs. 50000 per acre to produce tomatoes and now I am not even getting Rs. 500 for tomatoes produced in an acre. We don't have any other option left than destroying tomatoes here only."

To register their protest, the farmers spilled tomatoes on road near Post Office square and ran their tractor trolleys over it. Some of them were seen crushing tomatoes with their feet.

The farmers said that they are not even getting wholesale rate of Rs 1 per kilogram for tomatoes and whereas the cost to bring tomatoes to the market comes at Rs 2 per kilogram

Farmers in Bihar's Rohtas on Sunday dumped tomatoes on roads and ran vehicles over them in a bid to protest over insufficient profits from the produce. Farmers stated that they hardly earn the profit and did not get fair and adequate prices from the produced tomatoes. The farmers said that they are not even getting wholesale rate of Rs&nbsp1 per kilogram for tomatoes and whereas the cost to bring tomatoes to the market comes at Rs&nbsp2 per kilogram. Rohtas based farmers threw away tomatoes on road & ran a vehicle over them alleging they didn't get fair and adequate prices for the product in the market said, 'we haven't even met our expenses & that's why we are protesting on road' #Bihar pic.twitter.com/nYCqwyyUxJ — ANI (@ANI) April 22, 2018 × A farmer said, "I spent Rs. 50000 per acre to produce tomatoes and now I am not even getting Rs. 500 for tomatoes produced in an acre. We don't have any other option left than destroying tomatoes here only." To register their protest, the farmers spilled tomatoes on road near Post Office square and ran their tractor trolleys over it. Some of them were seen crushing tomatoes with their feet.

Bihar: Farmers dump tomatoes on roads over inadequate prices

Apple on Thursday said its earnings in the final three months of last year set new records, with sales of its flagship iPhone X topping its expectations.

The California-based technology giant reported that profit climbed to $20 billion on revenue that increased 13 percent to $88.3 billion during the period.

&quot;We&#39;re thrilled to report the biggest quarter in Apple&#39;s history, with broad-based growth that included the highest revenue ever from a new iPhone lineup,&quot; said Apple chief executive Tim Cook.

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<h5>However, Apple reported that overall iPhone sales in the quarter of 77.3 million were about a million fewer than the same period a year earlier</h5>
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&quot;iPhone X surpassed our expectations and has been our top-selling iPhone every week since it shipped in November.&quot;

However, Apple reported that overall iPhone sales in the quarter of 77.3 million were about a million fewer than the same period a year earlier.&nbsp;

But iPhone revenues rose 13 percent from a year ago, suggesting its newer models were gaining traction.

The earnings -- for the first quarter of Apple&#39;s financial year -- come amid concerns over weak demand for the newest and most expensive iPhone X, the 10th anniversary edition of the iconic smartphone.

Revenue growth from iPhone sales rose in all regions, and it was the top-selling smartphone overall in mainland China, according to Cook.

&quot;It was a stellar quarter for iPhone,&quot; Cook said.

&quot;iPhone X was the most popular.&quot;

Apple also forecast revenue of between $60 billion and $62 billion in the current quarter, an outlook less rosy than analysts had expected.

Apple shares dipped and then rose more than three percent to $173.40 in after-market trades that followed release of the earnings figures.

Spotlight off iPhone 
Despite Apple&#39;s spectacular trajectory in the decade since the introduction of the iPhone, the California technology titan is facing challenges on whether it can continue growth.

Apple&#39;s image has been bruised by revelations that it updated its mobile software to slow the performance of old iPhones as batteries weaken from age.

While the iPhone delivered the bulk of revenues, $61.6 billion in the quarter, the key segment of services saw revenue growth of 18 percent to $8.5 billion.

The &quot;other product&quot; segment which includes the Apple Watch and Apple TV, increased 36 percent to $5.5 billion.

Cook spent much of an earnings call with analysts playing up increasing revenue from Apple services, digital content, subscriptions, and products other than iPhones.

The number of Apple devices being used in the world as of January is at an all-time high of 1.3 billion, the ranks having grown 30 percent during the past two years, according to Apple.

&quot;That number speaks to the strength of the product; the loyalty of the customer, the strength of the ecosystem; it also obviously fuels the services business,&quot; Cook said.

While iPhone sales are at the heart of Apple&#39;s money-making machine, the company has taken to spotlighting revenue from the App Store, iCloud, Apple Music, iTunes and other content and services people tap into using its devices.

Where&#39;s the wow? 
Neil Saunders, managing director of research firm GlobalData Retail, saw &quot;worrying trends&quot; behind Apple&#39;s record-breaking quarterly earnings.

The number of iPhones sold declined, and people overall seem to be waiting longer to upgrade to new smartphones, the analyst noted. He saw the slowdown in iPhone sales as a sign that Apple isn&#39;t coming up with the kind of innovations that &quot;wow&quot; consumers.

&quot;We believe that the clear blue water that once existed between Apple and rivals is much diminished,&quot; Saunders said.

&quot;The company has time to reopen the gap, but to do so, it needs to pull something new and unique out of its hat sooner, rather than later.&quot;

Apple said its cash pile grew to $285 billion, with much of that stashed overseas.

The company said last month it would bring back most of its profits from abroad to take advantage of a favorable tax rate in legislation approved by Congress last year.

The repatriation will result in a tax bill of about $38 billion, but also would free up big chunks of money for investment.

The tech giant reported that profit climbed to $20 billion in the final three months of last year

Apple on Thursday said its earnings in the final three months of last year set new records, with sales of its flagship iPhone X topping its expectations. The California-based technology giant reported that profit climbed to $20 billion on revenue that increased 13 percent to $88.3 billion during the period. "We're thrilled to report the biggest quarter in Apple's history, with broad-based growth that included the highest revenue ever from a new iPhone lineup," said Apple chief executive Tim Cook. However, Apple reported that overall iPhone sales in the quarter of 77.3 million were about a million fewer than the same period a year earlier × "iPhone X surpassed our expectations and has been our top-selling iPhone every week since it shipped in November." However, Apple reported that overall iPhone sales in the quarter of 77.3 million were about a million fewer than the same period a year earlier. But iPhone revenues rose 13 percent from a year ago, suggesting its newer models were gaining traction. The earnings -- for the first quarter of Apple's financial year -- come amid concerns over weak demand for the newest and most expensive iPhone X, the 10th anniversary edition of the iconic smartphone. Revenue growth from iPhone sales rose in all regions, and it was the top-selling smartphone overall in mainland China, according to Cook. "It was a stellar quarter for iPhone," Cook said. "iPhone X was the most popular." Apple also forecast revenue of between $60 billion and $62 billion in the current quarter, an outlook less rosy than analysts had expected. Apple shares dipped and then rose more than three percent to $173.40 in after-market trades that followed release of the earnings figures. Spotlight off iPhone Despite Apple's spectacular trajectory in the decade since the introduction of the iPhone, the California technology titan is facing challenges on whether it can continue growth. Apple's image has been bruised by revelations that it updated its mobile software to slow the performance of old iPhones as batteries weaken from age. While the iPhone delivered the bulk of revenues, $61.6 billion in the quarter, the key segment of services saw revenue growth of 18 percent to $8.5 billion. The "other product" segment which includes the Apple Watch and Apple TV, increased 36 percent to $5.5 billion. Cook spent much of an earnings call with analysts playing up increasing revenue from Apple services, digital content, subscriptions, and products other than iPhones. The number of Apple devices being used in the world as of January is at an all-time high of 1.3 billion, the ranks having grown 30 percent during the past two years, according to Apple. "That number speaks to the strength of the product; the loyalty of the customer, the strength of the ecosystem; it also obviously fuels the services business," Cook said. While iPhone sales are at the heart of Apple's money-making machine, the company has taken to spotlighting revenue from the App Store, iCloud, Apple Music, iTunes and other content and services people tap into using its devices. Where's the wow? Neil Saunders, managing director of research firm GlobalData Retail, saw "worrying trends" behind Apple's record-breaking quarterly earnings. The number of iPhones sold declined, and people overall seem to be waiting longer to upgrade to new smartphones, the analyst noted. He saw the slowdown in iPhone sales as a sign that Apple isn't coming up with the kind of innovations that "wow" consumers. "We believe that the clear blue water that once existed between Apple and rivals is much diminished," Saunders said. "The company has time to reopen the gap, but to do so, it needs to pull something new and unique out of its hat sooner, rather than later." Apple said its cash pile grew to $285 billion, with much of that stashed overseas. The company said last month it would bring back most of its profits from abroad to take advantage of a favorable tax rate in legislation approved by Congress last year. The repatriation will result in a tax bill of about $38 billion, but also would free up big chunks of money for investment.

Apple says it sold fewer iPhones but made record profit

Samsung Electronics on Thursday flagged its biggest operating profit in more than two years, boosted by cost-cutting efforts and solid sales of its latest flagship smartphone. 
 
In an earnings estimate, the South Korean electronics giant - also the world&#39;s top handset maker - predicted an operating profit of 8.1 trillion Won ($7 billion) for April to June, up 17 per cent from 6.9 trillion Won a year back. 
 
It is the biggest operating profit since the first quarter of 2014 and beat estimates of 7.4 trillion Won among analysts surveyed by Bloomberg News. 
 
Analysts attributed the better-than-expected figures to the firm&#39;s aggressive cost-cutting efforts and brisk sales of the Galaxy S7 - the latest version of its high-end flagship smartphone.&nbsp; 
 
&quot;Samsung&#39;s mobile unit is believed to have performed well thanks to robust sales of Galaxy S7s as well as an overhaul of its low and mid-end handset line-up,&quot; said Peter Lee, analyst at NH Investment &amp; Securities. 
 
He estimated the firm had sold more than 16 million units of the S7, introduced in March ahead of new launches by competitors including Apple. 
 
Samsung&#39;s mobile business accounts for a lion&#39;s share of the firm&#39;s overall profit, which has been increasingly squeezed by competition both from Apple&#39;s iPhone in the high-end market and by lower-end devices from Chinese rivals like Huawei. 
 
Samsung&#39;s aggressive cost-cutting in marketing played a key role in the strong profit forecast, Greg Roh of HMC Investment said, warning of more competition from Apple later this year. 
 
&quot;With Apple releasing new products in the latter half of the year... I think (Samsung&#39;s) earnings may drop in the second half of this year,&quot; he said.&nbsp; 
 
(AFP)

Estimated earnings predicted an operating profit of $7 billion for April to June, 2016

Samsung Electronics on Thursday flagged its biggest operating profit in more than two years, boosted by cost-cutting efforts and solid sales of its latest flagship smartphone. In an earnings estimate, the South Korean electronics giant - also the world's top handset maker - predicted an operating profit of 8.1 trillion Won ($7 billion) for April to June, up 17 per cent from 6.9 trillion Won a year back. It is the biggest operating profit since the first quarter of 2014 and beat estimates of 7.4 trillion Won among analysts surveyed by Bloomberg News. Analysts attributed the better-than-expected figures to the firm's aggressive cost-cutting efforts and brisk sales of the Galaxy S7 - the latest version of its high-end flagship smartphone. "Samsung's mobile unit is believed to have performed well thanks to robust sales of Galaxy S7s as well as an overhaul of its low and mid-end handset line-up," said Peter Lee, analyst at NH Investment & Securities. He estimated the firm had sold more than 16 million units of the S7, introduced in March ahead of new launches by competitors including Apple. Samsung's mobile business accounts for a lion's share of the firm's overall profit, which has been increasingly squeezed by competition both from Apple's iPhone in the high-end market and by lower-end devices from Chinese rivals like Huawei. Samsung's aggressive cost-cutting in marketing played a key role in the strong profit forecast, Greg Roh of HMC Investment said, warning of more competition from Apple later this year. "With Apple releasing new products in the latter half of the year... I think (Samsung's) earnings may drop in the second half of this year," he said. (AFP)

Samsung's operating profit jumps 17% due to S7 sales and cost-cutting

Chinese e-commerce giant Alibaba Group Holding Ltd said on Tuesday that it expects to nearly double its transaction volumes by 2020, signalling it still expects rampant growth as Executive Chairman Jack Ma pledged to intensify a crackdown on fake goods. 
 
At an investor conference at its headquarters in Hangzhou, Zhejiang province, Alibaba said it expects to record 6 trillion yuan ($912 billion) in gross merchandise volume (GMV) in fiscal 2020, nearly double 3.09 trillion yuan in fiscal 2016. 
 
Echoing that growth, Ma said Alibaba expects to have 2 billion consumers on its books by 2036, up from 423 million active buyers in 2016. 
 
Addressing concerns about the company&#39;s efforts to remove counterfeit products from its online platforms, Ma said Alibaba will do &quot;anything to stop the fake products&quot;. The company has been dogged for years by accusations that its shopping platforms were conduits for counterfeiters. 
 
&quot;I promise you guys that counterfeits, fake products, and intellectual property theft - we are more and more confident than ever that we can solve the problem,&quot; he said.

Executive Chairman Jack Ma was even more hopeful long term, stating they'd have 2 billion annual consumers by 2036

Chinese e-commerce giant Alibaba Group Holding Ltd said on Tuesday that it expects to nearly double its transaction volumes by 2020, signalling it still expects rampant growth as Executive Chairman Jack Ma pledged to intensify a crackdown on fake goods. At an investor conference at its headquarters in Hangzhou, Zhejiang province, Alibaba said it expects to record 6 trillion yuan ($912 billion) in gross merchandise volume (GMV) in fiscal 2020, nearly double 3.09 trillion yuan in fiscal 2016. Echoing that growth, Ma said Alibaba expects to have 2 billion consumers on its books by 2036, up from 423 million active buyers in 2016. Addressing concerns about the company's efforts to remove counterfeit products from its online platforms, Ma said Alibaba will do "anything to stop the fake products". The company has been dogged for years by accusations that its shopping platforms were conduits for counterfeiters. "I promise you guys that counterfeits, fake products, and intellectual property theft - we are more and more confident than ever that we can solve the problem," he said.

Alibaba expects to record $912 billion by 2020, even amid concerns it sells counterfeit products

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