Apple Tumbles On China, Service Revenue Miss

"Results Were Tempered": Pepsi Blames US Snack Slump On Cash-Strapped Consumers PepsiCo blamed the second-quarter slowdown in its North American food unit on consumers tightening their belts. The period was marked by elevated pump prices tied to the US-Iran war, a squeeze that hit lower-income households the hardest and weighed on discretionary snack and beverage purchases. Revenue in the company's North American food unit fell 2%, while volumes remained flat, even as the junk food giant slashed prices on some of its brands by as much as 15% earlier this year...

Kicking The Can On A Ceasefire "Which Does Not Solve Anything" Bas van Geffen, Senior Macro Strategist at Rabobank Both Bloomberg and Axios report that the US and Iran have reached a tentative deal to extend the ceasefire by 60 days as they engage in further negotiations over Iran’s nuclear programme. However, Tasnim reported that the text of the memorandum of understanding had not been finalized. US Vice President Vance said that the two sides are still “going back and forth on a couple of language points,” which reportedly includes the wording on...