Posts From King World News

Apple's momentum 'meltdown' bites investors

Has the “curse of the Dow” finally caught up with Apple? The recent declines have wiped out nearly $100 billion of Apple’s market value – about as much as fellow Dow components Boeing and McDonald’s are worth in total. For CEO Tim Cook, it means his stake of 950,000 shares, worth more than $127 million in late April, is now worth around $109 million.

Oil companies’ spending cuts unlikely to be enough

LONDON—The world’s biggest oil companies have vowed to bring down the costs of big projects in the face of slumping oil prices, but the unrelenting price weakness—with crude below $50 a barrel—suggests they could have to dig deeper still. In the past year, as oil prices plunged 60% from highs of $114 in 2014, U.K. energy giant BP PLC began testing new projects for profitability around $60 a barrel, down

Bjork cancels concerts in European tour

Bjork has cancelled the last three concerts of her European tour because of an unspecified “scheduling conflict”, organisers said Wednesday. The Icelandic singer was pulling out of shows she was meant to have performed at two French music festivals and one in Iceland. “Bjork really wanted to do these concerts”, according to her agent, but had to cancel because of “a scheduling conflict outside her control”, organisers said.

Obama: Iran deal builds on diplomacy that won Cold War

WASHINGTON (AP) — President Barack Obama argued Wednesday that the Iran nuclear accord builds on an American tradition of “strong, principled diplomacy” with adversaries, including the former Soviet Union. He linked those who oppose the pact to politicians who pushed for the 2003 invasion of Iraq.