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Appleon Thursday gave a sales forecast for the holiday quarter that missed Wall Street expectations, hurt by weak demand for iPads and wearables, sending its shares down 3.5% in after-hours trading.

Chief ExecutiveTimCookinsisted that the company’s new iPhone 15 models were doing well in China, citing a record September quarter for iPhones in the region and seeking to ease Wall Street worries that Apple was losing market share to a resurgent Huawei and other local smartphone sellers.

On a conference call with analysts, Chief Financial Officer Luca Maestri said sales for the current quarter, when Apple typically has its biggest sales of new iPhone models, will be similar to the previous year. Wall Street was expecting a forecast for sales to rise 4.97% to $122.98 billion.

Apple shares, which have risen 37% so far this year, dropped 3.5% after-hours when the company gave the forecast.

Earlier on Thursday, Apple reported quarterly sales and profit beat Wall Street expectations, helped by an uptick in iPhone sales and a $1 billion boost to services revenue that offset large drops in Mac and iPad sales.

But revenue from China dipped 2.5% and Cook said the company’s new high-end handset models – the iPhone 15 Pro and Pro Max devices – are facing supply constraints.

The Cupertino, California, company has navigated a global smartphone slump better than many of its rivals but faces an uneven economic recovery in China, a key market for Apple.

“While we believe investors should breathe a sigh of relief because sales and profits both exceeded expectations, the upside was small and we were concerned to see weak sales from China,” DA Davidson analyst Tom Forte said.

Apple said sales for the fiscal fourth quarter ended Sept. 30 fell roughly 1% to $89.50 billion but beat analyst estimates of $89.28 billion, according to LSEG data. Net income rose about 11%. Profit per share of $1.46 beat analyst expectations of $1.39 per share, according to LSEG.

Apple is facing tougher competition in the smartphone market this year as Huawei TechnologiesLreturns to the field with new phones powered by Chinese-made chips after being all but shut out of the market for several years by US government trade curbs.

Apple’s sales in China fell to $15.08 billion from $15.47 billion in the fourth quarter a year ago. Apple’s Cook said that after accounting for foreign exchange rates, Apple’s business in China grew year-over-year, driven by iPhone sales and services revenue.

“In mainland China, we set a quarterly record for the September quarter for iPhone,” Cook told Reuters. “We had four out of the top five best-selling smartphones in urban China.”

Cook said Apple was “working hard to manufacture more” iPhone 15 Pro and Pro Max devices. “We do believe that later this quarter, we’ll reach a supply-demand balance,” he said.

Several global trends are also playing in Apple’s favor, with forecasters predicting that the smartphone market has bottomed out and may start to recover in 2024.

In the longer term, investors are eying how Apple responds to the boom in generative artificial intelligence in which systems can follow prompts in human-like ways – an area that has attracted billions in spending by Microsoftand Alphabet’sGoogle. Apple has said it is working on the technology and views it as a way to improve a wide range of products.

For now, the iPhone remains Apple’s biggest seller. Sales of the device were $43.81 billion in the fourth quarter, in line with analyst expectations of $43.81 billion, according to LSEG data.

The personal computer market is also expected to fare better in the coming year. Earlier this week,Apple rolled outnew Mac machines.

Still, Mac sales slumped by a third to $7.61 billion and iPad sales declined 10% to $6.44 billion, compared with expectations of $8.63 billion and $6.07 billion, respectively.

Sales in Apple’s wearables segment, which includes the Apple Watch and AirPods, fell 3% to $9.32 billion, short of estimates of $9.43 billion, according to LSEG data.

Apple has faced several quarters of declining sales of Macs and iPads, and the fourth quarter continued that trend.

Sales in Apple’s services segment, which includes Apple TV+ and which recently closed a deal with global soccer superstar Lionel Messi, rose 16% to $22.31 billion, compared with analyst estimates of $21.35 billion.

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Energy bills to rise again from January but spring falls to come, research firm Cornwall Insight forecasts

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Energy bills to rise again from January but spring falls to come, research firm Cornwall Insight forecasts

Energy bills are to rise again next year, according to a respected forecaster.

Costs from January to March are projected to rise another 1% to £1,736 a year for the average user, according to research firm Cornwall Insight.

The energy price cap, which sets a limit on how much companies can charge per unit of electricity, is also expected to rise, costing typical households an extra £19 a year.

It’s a further increase after energy costs rose 10% from October.

After the latest hike, there were hopes of a fall in the new year, but volatile wholesale gas and electricity markets are still above historic average costs.

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Prices have gone up due to supply concerns arising from Russia‘s war in Ukraine, and maintenance of Norwegian gas infrastructure.

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But spring is expected to herald a reduction as is October 2025, Cornwall Insight said.

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‘Energy prices make me depressed’, pensioner Roy Roots said in August

Every three months energy regulator Ofgem revises the cap based on wholesale costs.

The official January price cap announcement will be made on Friday.

It comes as millions of pensioners lost their automatic winter fuel allowance payment after the government means-tested the benefit.

Meanwhile, Cornwall Insight’s principal consultant Dr Craig Lowrey warned “millions” of households won’t heat their homes to “recommended temperatures, risking serious health consequences” with bills on the rise.

“With it being widely accepted that high prices are here to stay, we need to see action,” he said, suggesting options like cheaper rates for low-income homes, benefit restructuring, or other targeted support for the vulnerable “must be seriously considered”.

The energy price cap system is being reviewed by Ofgem with possible changes to the standing charge coming over the next year.

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The long-lasting solution to high energy bills is the transition to UK-produced renewable power, the firm said.

“While there will be upfront costs, this shift is essential to building a sustainable and secure energy system for the future.”

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Masked burglars ‘raid’ Windsor Castle grounds ‘while William, Kate and children slept at home on estate’

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Masked burglars 'raid' Windsor Castle grounds 'while William, Kate and children slept at home on estate'

Masked burglars have stolen farm vehicles from the Windsor Castle estate while members of the Royal Family are believed to have been asleep nearby.

Two men scaled a 6ft fence on the night of 13 October and used a stolen truck to break through a security gate, The Sun first reported.

The pair then fled with a pick-up and a quad bike that were stored in a barn.

The King and Queen were not in residence.

But the Prince and Princess of Wales, along with their three children George, 11, Charlotte, nine, and six-year-old Louis were believed to have been in their home, Adelaide Cottage, on the estate, according to The Sun.

The family moved there in 2022.

In a statement, Thames Valley Police said: “At around 11.45pm on Sunday 13 October, we received a report of burglary at a property on Crown Estate land near to the A308 in Windsor.

“Offenders entered a farm building and made off with a black Isuzu pick-up and a red quad bike. They then made off towards the Old Windsor/Datchet area.

“No arrests have been made at this stage and an investigation is ongoing.”

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On Christmas Day 2021, a man climbed a fence at Windsor Castle armed with a crossbow and claimed he wanted to kill Queen Elizabeth II.

Jaswant Singh Chail was handed a nine-year custodial sentence for treason, possession of an offensive weapon and making threats to kill.

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UK told to expect ‘disruptive snow’ as warnings cover large parts of country

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UK told to expect 'disruptive snow' as warnings cover large parts of country

The UK is braced for “disruptive snow” as yellow weather warnings cover large parts of the country until Tuesday – with the Met Office saying there is the “potential” for the alerts to be “escalated”.

The forecaster has warned up to 20cm of snow may accumulate in the worst affected areas as the country experiences its “first taste of winter”.

The Met Office has also told people to expect ice, cold temperatures and wintry showers this week.

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A yellow warning for snow and ice is in place for much of the north of the country – covering areas in the East Midlands, Yorkshire, Wales and the north of England – from 7pm on Monday night to 10am on Tuesday morning.

Those in the impacted areas have been told power cuts are possible and mobile phone coverage might be affected.

The Met Office has said there is a “slight chance” some rural communities could be cut off and that bus and train services may be delayed or cancelled.

People are also warned to be careful not to slip or fall on icy surfaces.

The Met Office has said there will be bright spells across northern and eastern areas throughout today, but rain in the south and west will gradually spread northeastwards and turn to snow over northern hills.

Snow in Leeds.
File pic: PA.
Image:
Parts of the UK are experiencing their ‘first taste of winter’, says the Met Office. File pic: PA

Tom Morgan, Met Office meteorologist, said: “We could see some disruptive snow in the Pennine regions, in particular, the Peak District as well, especially Monday night, but we could well see some impacts lasting on until Tuesday morning’s rush hour.

“Even down to lower levels, we could well see some snow as well, so quite a bit of disruption possible by Tuesday morning, and then the week ahead is likely to stay cold nationwide, a windy day on Tuesday, and then winter showers through the week ahead.”

Mr Morgan said that despite a “mild” start to the month, the cold conditions are more typical of “mid-winter to late-winter”.

“What we can say is that it’s going to be very cold for the time of year, there will be widespread overnight frosts, and a few locations where there’s snow on the ground,” he continued.

The yellow weather warnings in place across the UK
Image:
The yellow weather warnings in place across the UK

Meanwhile, a yellow snow and ice weather warning that came into force at 4pm on Sunday will end at 11am this morning.

The warning covers the northern tip of Scotland and people there have been told there may be icy patches on some untreated roads, pavements and cycle paths.

The Met Office has said there is “potential” for both yellow warnings to be “escalated”.

In southern England, a typical maximum temperature for this time of year is 11C (52F), but daytime highs for the week ahead are forecast to be around 5C (41F), while some parts of Scotland will reach “only just above freezing”, Mr Morgan said.

The meteorologist said the public can best prepare for the wintry weather by checking their cars are suitable for icy and potentially snowy conditions and to take extra supplies including food, blankets and a fully charged mobile phone with them on journeys.

He added there were “likely” to be changes to the weather warnings in the coming days, and that “winter flurries” could be seen in the south of England later in the week.

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Despite the cold conditions, the “whole of the UK” will enjoy more sunshine this week, the meteorologist added.

He said: “There’ll be some snow showers in the peripheries of the UK, particularly northern Scotland, and down the east and the west coast, but if you live inland and you live in the south, there’ll be lots of sparkly blue skies on the most days through Tuesday to Friday.”

It comes as a cold weather alert issued by the UK Health Security Agency, which was introduced at 9am on Sunday, will be in place until 9am on Thursday.

It covers a large area of England, north of Northhampton. The alert is triggered when there is a risk that healthcare services might face extra pressure and is designed to prepare those who are “particularly vulnerable” and “likely to struggle to cope”.

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