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New Apple ‘iPhone 12’ to offer 5G speeds U.S. networks can’t deliver By Reuters

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© Reuters. FILE PHOTO: The Apple Inc. logo is seen hanging at the entrance to the Apple store on 5th Avenue in New York

By Supantha Mukherjee and Kenneth Li

(Reuters) – 5G will finally get its U.S. closeup with the expected debut of Apple Inc (NASDAQ:)’s next iPhone on Tuesday. But the blazing speeds promised will not materialize for most people.

The device, dubbed the iPhone 12 by analysts, can tap into 5G, or fifth generation wireless technology, that theoretically operates as much as 10 to 20 times faster than current 4G wireless networks. [nL1N2H0004]

Using the next iPhone or any 5G enabled device on today’s network, however, will be “like having a Ferrari (NYSE:) … but using it in your local village and you can’t drive to up to 200 miles per hour, simply because the roads cannot maintain those speeds,” explained Boris Metodiev, associate director of research firm Strategy Analytics.

Apple, which is expected to unveil the new phone at a virtual event on Tuesday, will need to walk a tightrope between enticing consumers to upgrade their phones while not over-promising what 5G can do today.

Current 5G U.S. networks mostly use low-band wireless spectrum, or airspace, that is slower than high-band spectrum, but more reliable over longer distances. It will likely take years before the massive speed boost phone carriers promise will make augmented reality and real-time cloud gaming seamless.

Several U.S. telecom operators have deployed networks based on lower spectrum bands, with slightly higher speeds than 4G. A noticeably faster variant of “mid-band” 5G is also being rolled out, but it is unlikely to reach three-quarters of Americans until 2025, estimated longtime Apple analyst Gene Munster of venture capitalist firm Loup Ventures.

The fastest speeds touted by carriers are a type of 5G called millimeter Wave, or mmWave, that work over shorter distances. Verizon Communications Inc (NYSE:) has the largest current mmWave network, available only in limited areas.

Although Verizon 5G users could connect almost 10 times faster than on Sprint and T-Mobile, actual average speeds were far lower, according to research firm OpenSignal’s mobile signal experience report in June.

On average, AT&T Inc and Verizon customers with 5G phones saw only a small bump up from 4G speeds, according to the same study.

In South Korea and in China, faster 5G networks are more pervasive. But Apple will be competing against local brands including Samsung (KS:) in South Korea, which is already on its second line of 5G phones, and China’s Huawei Technologies Co Ltd [HWT.UL], whose sales have surged after the telecom giant was banned in the United States.

The other big letdown is that applications using higher speeds to deliver something new have yet to be created. It is a chicken and egg problem at this part of the tech cycle, executives said, noting that interest in 4G was fueled by Facebook Inc (NASDAQ:)’s mobile apps and Alphabet (NASDAQ:) Inc’s YouTube.

“The applications we will be dazzled by, that will really take advantage of the network, will only be developed once the network and devices are available,” said Morgan Kurk, chief technology officer of CommScope, a telecom equipment maker.

U.S. consumers most motivated to buy a 5G phone would be those who need a new smartphone right now and are looking to protect their investments.

“If you’re buying a phone that you’re going to have for three years, you’re going to want to make sure that it’s going to support the latest networks,” said Geoff Blaber, vice president of research at CCS Insight.

Just know what to expect, Blaber added. “There’s going to be relatively little that you can do on a 5G iPhone you can’t do on a 4G iPhone today.”





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Kimberly-Clark Earnings Miss, Revenue Beats In Q3 By Investing.com

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© Reuters. Kimberly-Clark Earnings Miss, Revenue Beats In Q3

Investing.com – Kimberly-Clark (NYSE:) reported on Thursday third quarter that missed analysts’ forecasts and revenue that topped expectations.

Kimberly-Clark announced earnings per share of $1.72 on revenue of $4.68B. Analysts polled by Investing.com anticipated EPS of $1.75 on revenue of $4.59B.

Kimberly-Clark shares are up 7% from the beginning of the year, still down 7.33% from its 52 week high of $160.11 set on August 12. They are outperforming the which is up 6.34% from the start of the year.

Kimberly-Clark shares lost 2.95% in pre-market trade following the report.

Kimberly-Clark follows other major Consumer/Non-Cyclical sector earnings this month

Kimberly-Clark’s report follows an earnings beat by Procter&Gamble on Tuesday, who reported EPS of $1.63 on revenue of $19.32B, compared to forecasts EPS of $1.41 on revenue of $18.33B.

Coca-Cola had beat expectations on Thursday with third quarter EPS of $0.55 on revenue of $8.65B, compared to forecast for EPS of $0.46 on revenue of $8.36B.

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com’s earnings calendar

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Northrop Grumman Earnings, Revenue Beat in Q3 By Investing.com

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© Reuters. Northrop Grumman Earnings, Revenue Beat in Q3

Investing.com – Northrop Grumman (NYSE:) reported on Thursday third quarter that beat analysts’ forecasts and revenue that topped expectations.

Northrop Grumman announced earnings per share of $5.89 on revenue of $9.08B. Analysts polled by Investing.com anticipated EPS of $5.62 on revenue of $8.87B.

Northrop Grumman shares are down 10% from the beginning of the year, still down 19.90% from its 52 week high of $385.00 set on January 30. They are under-performing the which is up 6.34% from the start of the year.

Northrop Grumman follows other major Technology sector earnings this month

Northrop Grumman’s report follows an earnings matched by Taiwan Semiconductor on October 14, who reported EPS of $0.92 on revenue of $12.4B, compared to forecasts EPS of $0.92 on revenue of $12.4B.

Danaher had beat expectations on Thursday with third quarter EPS of $1.72 on revenue of $5.88B, compared to forecast for EPS of $1.36 on revenue of $5.51B.

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com’s earnings calendar

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Buyers of Thai distressed assets plan big purchases as debt payment holiday ends By Reuters

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© Reuters. FILE PHOTO: Coronavirus disease (COVID-19) outbreak, in Bangkok

By Orathai Sriring and Satawasin Staporncharnchai

BANGKOK (Reuters) – A pandemic-exacerbated surge in Thai bad loans to nine-year highs and the end of a debt payment holiday are prompting buyers of distressed debt to embark on a shopping spree in Southeast Asia’s second-biggest economy.

About 6.89 trillion baht ($221 billion) of outstanding Thai debt – or 42% of total lending – has been under relief programmes that include payment deferment and reduction, interest rate reduction and restructuring.

The most significant of these – a government-mandated six month debt payment holiday – ended on Thursday.

The Bank of Thailand has said it does not expect sudden and large defaults, but its former chief Veerathai Santiprabhob, whose term ended last month, warned in August bad debt could jump as the economy slumped.

The country’s biggest distressed debt manager, Bangkok Commercial Asset Management (BK:), told Reuters it will spend 12 billion baht to acquire sour loans with a face value of about 40 billion baht this year.

“We will focus on buying debt this year and next,” Bunyong Visatemongkolchai, the bank’s executive board chairman said, adding it planned to issue 25 billion baht of bonds to fund purchases.

Its shares are up 11% this year, versus a 23% drop for the main stock index ().

Easy credit for consumers and businesses for years have prompted many warnings about the dangers of the household debt malaise in Thailand. Those are now proving prescient as the pandemic batters businesses, leaving as many as three million people without work.

Thai household debt is among Asia’s highest, at 83.8% of GDP as of June, the highest level since 2003, while the central bank predicts the trade and tourism-dependent economy could shrink by a record 7.8% this year.

Months of protests against the government and the monarchy could further slow a recovery for the economy.

For a graphic on Thailand’s economy and tourism:

https://fingfx.thomsonreuters.com/gfx/mkt/xlbvgjmjepq/Pasted%20image%201601392642559.png

Thailand’s non-performing loans amounted to 509 billion baht as of June, a nine-year high of 3.09% of total lending, versus 2.98% at the end of 2019. Loans with a significant increase in credit risk hit 7.48% of lending, up from 2.79% at the end of last year.

Banks prefer keeping distressed assets in house to avoid expensive write-downs, but sometimes see no option but to sell.

For a graphic on Bad loans at Thai banks:

https://fingfx.thomsonreuters.com/gfx/mkt/xlbpgjmlevq/Pasted%20image%201601390972890.png

“We will sell debt of businesses that have no potential,” said Atipat Asawachinda, first senior vice president of Kasikornbank (BK:), which plans to offload 10 billion baht of bad debt this year.

JMT Network Services (BK:), the biggest buyer of distressed consumer loans, will spend a record 6 billion baht buying debt this year, CEO Sutthirak Traichira-aporn said.

“The amount of debt being sold in the market is so great that we don’t have time to choose,” he said, noting it had acquired debt with a face value of 12 billion baht at an average 84% discount in the first half.

JMT’s shares have surged 66% this year.

Sutthirak said relief measures had only delayed the souring of loans, likening them to holding water behind a dam, “If there is too much, it will break out”.





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