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Apple CEO Tim Cook
- Apple reports its Q1 2020 earnings on Tuesday, which will provide some insight into how its iPhone 11 lineup is performing.
- Analysts will also likely be looking at how its wearables and services businesses are doing, and will be listening for clues about Apple’s reported plans for a 5G iPhone.
- Visit Business Insider’s homepage for more stories.
Apple reports its fiscal first-quarter earnings on Tuesday after markets close, giving Wall Street a sense of how the company’s products performed over the critical holiday season. It’ll also provide an indication of how Apple’s iPhone 11 lineup has been selling.
Analysts are also eager to see how Apple’s services and wearables divisions are performing, considering these business sectors helped the company offset slowing iPhone sales over the past year.
While third-party estimates indicate the iPhone 11 lineup has performed well so far, it’s the company’s 2020 iPhones that are expected to bring the company’s smartphone business back to growth after several quarters of declining revenue.
Apple’s next-generation iPhones aren’t expected to launch until September, but analysts will likely be listening for any comments from CEO Tim Cook on the company’s plans for bringing 5G to future iPhones during Apple’s earnings call. They’ll also be looking for comments about how Apple’s new TV service, Apple TV Plus, has been performing.
Wall Street is expecting a better quarter for Apple in Q1 2020 compared to the year-ago quarter, when the company issued a revision to its revenue guidance ahead of its 2019 first-quarter earnings. Last year, the company cited challenges in emerging markets like China as a primary reason for its lower-than-expected results.
Here’s a look at what analysts are expecting, and how Apple performed in the year-ago quarter.
- Fiscal first-quarter (FQ1) revenue: Analysts are expecting $88.37 billion. In the same period one year ago, the company posted revenue of $84.3 billion.
- FQ1 earnings per share (EPS) GAAP: Analysts are expecting $4.55. In the same period one year ago, Apple earned $4.18 per share.
- Fiscal second-quarter (FQ2) revenue guidance: Analysts are expecting $62.33 billion. In the same quarter one year ago, Apple earned $58 billion in revenue.
This story is being updated live. Please refresh for the latest.
Four brands of frozen mango recalled over Hepatitis A contamination | News – Daily Hive
Health Canada is recalling multiple brands of frozen mango because they may be contaminated with Hepatitis A.
The recall for Nature’s Touch, Compliments, Irresistibles, and President’s Choice brand frozen mangoes was issued on July 30.
Health Canada said it has received reports of people becoming sick after eating the recalled products, but did not disclose how many individuals or in which provinces they reside.
The recalled mango should be thrown away or returned to the store where it was purchased. Anyone who thinks they have fallen ill after eating one of the products should call a doctor.
The health authority noted that food contaminated with Hepatitis A may not look or smell spoiled but can still make you sick.
Eating food that has been contaminated by the virus may cause hepatitis, but would not result in a chronic infection or chronic liver disease.
The illness is usually mild, Health Canada said, and starts about 15 to 50 days after the contaminated food is eaten.
Symptoms may include fever, low appetite, nausea, vomiting, diarrhea, muscle aches, and jaundice. Inflammation of the liver is also possible.
According to Health Canada, the illness generally clears up by itself in a week or two, although it can last up to six months in some people.
Business travel isn't expected to return to pre-pandemic levels anytime soon – CBC.ca
Kacey Siskind recently took her first business trip to the U.S. since the pandemic began.
The vice-president of business development at Honk Mobile, a parking app, attended an industry conference in Texas.
“Our team was fully vaccinated and we felt that we could probably make our way and see how it went… we just wanted to take a chance and really be back out in the world,” said Siskind.
But in Dallas, you’d barely know there had ever been a global pandemic. Panel discussions and networking sessions at the conference happened indoors with no masks in sight — just lots of people eager to re-connect.
Siskind said she found the environment unnerving at first, but soon began to appreciate the experience.
“There is really nothing like being in person with somebody,” Siskind said. “There’s nothing like physically seeing them and talking to them.”
Only essential business travel has continued throughout the pandemic; for example, trips related to healthcare issues or critical infrastructure. Work trips related to maintaining or building relationships, making sales or attending conferences had been shut down.
In an online survey of 640 industry professionals, a June poll from the Global Business Travel Association, a U.S.-based industry group, found 91 per cent of companies say they’ve cancelled or suspended most or all international business travel — a huge hit for the industry.
Slow return for business travel in Canada
In Canada, virtual, online gatherings are expected to be the norm at least until the end of the year, event planners said.
“Our friends down in the states are moving a little bit quicker than us,” said Anh Nguyen, an event planner in Calgary. “In Canada, we’re seeing a little bit of a more conservative approach.”
Nguyen’s company, Spark Event Management, organized a number of virtual events over the past year. She believes many organizations — here and in the U.S. — won’t be willing to give up all the benefits that come with going online.
“There’s no such thing as sold out, right? So if you’re a 300-person event you can now reach 5,000-6,000 people if you wanted it to.”
Nguyen adds that with avatars, networking and breakout room software, industry is getting close to being able to replicate much of a real-life event experience online — though it’ll never be quite the same.
“The technology has grown and there’s a lot of money and investments being put into event technology right now,” Nguyen said.
Virtual gatherings may be great in some ways, but industry insiders note that they do next-to-nothing for local economies. Business travellers are often big spenders. They’re often on expense accounts, which benefit hotels, restaurants, taxis, airlines and more.
“Business travel contributes over $40 billion towards our Canadian economy in pre-pandemic numbers,” said Nancy Tudorach, who works with the Global Business Travel Association. “It’s about 2.5 to 3 per cent of our typical pre-pandemic GDP.”
Airlines are hurting
Vik Krishnan, a consultant with McKinsey & Company, said airlines in particular depend on expensive business class tickets.
“The business traveler tends to book late, they tend to travel with higher frequency, and they tend to also buy some of the more expensive fares,” he said. “Business travel for some airlines comprises 50 to 75 per cent of profits.”
A recent report from McKinsey noted that it took six years for airlines to recover from the impact of the Sept. 11 attacks, and that the industry still hadn’t fully recovered from the 2008 global financial crisis when the pandemic hit.
The COVID-19 pandemic has been larger in scale and deeper than any of those prior crises, Krisnan said. But if corporate travel remains curtailed, he said airlines probably won’t make up the difference by charging regular consumers more.
“This is an industry that has faced a lot of competition, has faced fairly relentless pricing pressure and cost pressure, and therefore, it’s no stranger to having to deal with an environment where you don’t have a lot of leeway and flexibility to raise prices.”
The recent emergence of new discount airlines in Canada, such as Flair and Canada Jetlines, could make it difficult for WestJet or Air Canada to charge more.
Business travel may stay depressed
Many of the companies that depend heavily on business travellers are expected to continue to struggle. McKinsey’s report on the airline industry forecasts pre-pandemic travel levels won’t be reached until 2024, and even then will only be at 80 per cent.
Others say the pandemic may have changed the approach to corporate travel forever.
Kacey Siskind suspects all business trips will now be evaluated differently.
“Is it efficient for us to go to a conference? Yes, if we’re going to see hundreds of people, it’s going to make sense for us to be there,” she said. “Is it smart for me to go off to New York for a night to have one meeting? Maybe not so much.”
Union ratifies deal with Bombardier at Downsview; talks with De Havilland continue – CP24 Toronto's Breaking News
TORONTO – Unifor says members of two of its locals have ratified an agreement with Bombardier Aviation at its Downsview plant in north Toronto.
Unifor National President Jerry Dias says in a statement that the three-year collective agreement approved by members of Local 112 and 673 makes “significant progress” on key issues such as pensions, as well as on job protection against outsourcing and the use of contractors.
Workers will see raises of 0.5 per cent in Year 1, 0.75 per cent in Year 2 and one per cent in Year 3.
The workers launched a strike late last month against the business jet manufacturer and De Havilland, which it says had made Dash 8 turboprops at the facility.
Unifor says the ratified deal covers approximately 1,500 Bombardier Aviation workers, and runs from June 23, 2021 to June 23, 2024.
But it says 700 De Havilland workers remain on strike as negotiations between it and the company continue, with a dedicated picket line in operation at the De Havilland area of the facility.
“As the industry recovers from this once-in-a-century pandemic and Bombardier prepares to move production to a new facility at Pearson Airport, these collective agreements will ensure our highly skilled members will maintain wages, pension, benefits and other working conditions that are among the best in the industry,” Dias said in the statement.
The union has said the future of the Dash 8 program is the focus of talks with De Havilland.
De Havilland announced earlier this year that it would no longer produce new Dash 8s at the facility beyond currently confirmed orders. De Havilland indicated two years ago that work will end at Downsview once lease agreements for the land expire.
This report by The Canadian Press was first published July 31, 2021.
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