:00:16. > :00:18.Apple takes yet another giant bite out of its competition,
:00:19. > :00:23.making a profit of over $11 billion in the third quarter of the year.
:00:24. > :00:27.Up up and away, US shares hit a record high for a fifth day
:00:28. > :00:38.We tell you what's driving the astonishing growth.
:00:39. > :00:49.We'll be live in China for the latest on a possible trade
:00:50. > :01:01.Let's start with the world's most valuable company.
:01:02. > :01:04.Apple has published its latest set of results and they show revenue
:01:05. > :01:06.growing to $45.1 billion for the three
:01:07. > :01:11.That combined with a prediction that it will bring in as much as $52
:01:12. > :01:14.billion in the next quarter saw shares rise by up to 6%
:01:15. > :01:22.in after-hours trade to hit a record high.
:01:23. > :01:25.Apple made a pre-tax profit of $11.3 billion in the three months
:01:26. > :01:30.from April to the end of June, a solid rise on the previous year.
:01:31. > :01:33.This year the iPhone is ten years old, but it's not been performing
:01:34. > :01:37.so well in China, where sales this quarter were flat and total Chinese
:01:38. > :01:40.revenue for the company actually fall by 10% compared to the same
:01:41. > :01:49.And Apple increasingly trails its arch rival Samsung
:01:50. > :01:52.in the smartphone market in terms of share right across the globe,
:01:53. > :01:56.which some analysts say is a problem for a company so reliant on handsets
:01:57. > :02:07.One way Apple has tried to decrease its reliance on iPhone
:02:08. > :02:09.sales is its growing range of services.
:02:10. > :02:13.Those grew by 22% year on year in Q3, with the company raking
:02:14. > :02:16.in $7.3 billion from things like its App Store and Apple Pay
:02:17. > :02:32.now from outside Apple's HQ in Silicon Valley.
:02:33. > :02:38.Investors and Apple fans had been concerned that the new iPhone, which
:02:39. > :02:42.is due in September, could be delayed until next year because of
:02:43. > :02:46.production issues but judging by Apple's revenue forecast for its
:02:47. > :02:50.next quarter, it expects the iPhone production to be right on track so
:02:51. > :02:53.you can expect anticipation for the new phone to go into overdrive in
:02:54. > :02:58.what will be the iPhone's 10th anniversary year. Other good news
:02:59. > :03:02.for Apple was better results for its iPad range, which has grown for the
:03:03. > :03:08.first time in more than three years. The tablet, written off by many as a
:03:09. > :03:13.dying form factor, is stronger than ever and eight of the ten strongest
:03:14. > :03:16.are made by Apple. Apple's serviced apartment, things like the App Store
:03:17. > :03:21.and Apple Music, have revenues of $7.3 billion in this last quarter,
:03:22. > :03:26.making it the size of a fortune 100 company. A blip in these results and
:03:27. > :03:31.it's been a big blip for quite now for Apple is the company performance
:03:32. > :03:35.in China were in this quarter the revenue drops. Chief executive Tim
:03:36. > :03:38.Cook told investors he thinks Apple is in a trough in the region and he
:03:39. > :03:44.expects better performance in China soon. Dave Lee, BBC News, Silicon
:03:45. > :03:44.Valley. And a follow-up on a story
:03:45. > :03:49.about apple we were covering Chief Executive Tim Cook has
:03:50. > :03:55.said he would rather not have removed some software
:03:56. > :03:58.from his firm's App Store in China that allows users to access banned
:03:59. > :04:01.parts of the internet. Speaking after the release
:04:02. > :04:04.of the firms results he said Apple was required by the Chinese
:04:05. > :04:26.government to remove the apps. The shares did really well after the
:04:27. > :04:31.day traded and the Dow Jones industrial average closing on a
:04:32. > :04:40.record high. It's the fifth day in a row this has happened, getting
:04:41. > :04:46.closer to 22,000. It's the 48 record highs since Trump was elected. --
:04:47. > :04:50.48. What is behind this long-term trend? -- 48th.
:04:51. > :04:55.This particular run on the Dow has been driven by strong corporate
:04:56. > :05:00.earnings. Banks continue to perform well despite lower trading numbers
:05:01. > :05:05.and oil companies seem to be read gaining some lost ground now oil
:05:06. > :05:09.prices are starting to rebound. -- regaining. Some big companies like
:05:10. > :05:13.Facebook and Netflix have posted strong earnings for the quarter but
:05:14. > :05:18.if you look at the entire year, all of the indices have been breaking
:05:19. > :05:21.records and all of this is happening despite the legislative stalls in
:05:22. > :05:25.Washington. It seems like it may be a while before we see any movement
:05:26. > :05:29.on tax reform or infrastructure spending. But the general sense from
:05:30. > :05:34.Wall Street is that the White House is business friendly and that can
:05:35. > :05:37.only mean good things. Of course there are some other factors
:05:38. > :05:41.contributing to the party. Global growth and a weak dollar are
:05:42. > :05:45.boosting exports and investors were really relieved when the Federal
:05:46. > :05:47.Reserve, America's central bank, promised that it would raise
:05:48. > :05:54.interest rates slowly. Samira who's in explaining the White
:05:55. > :05:55.House's being perceived as business friendly but what about its
:05:56. > :05:58.relationship with China? It's being reported President Trump
:05:59. > :06:02.is close to a decision on how to respond to what he considers
:06:03. > :06:04.China's unfair trade practices. The Reuters news agency says
:06:05. > :06:07.Mr Trump is looking into initiating an investigation of
:06:08. > :06:09.Chinese trade practices. the president to unilaterally impose
:06:10. > :06:15.tariffs. Joining us now from Shanghai
:06:16. > :06:25.is our China correspondent Hi, Robin. This is something that he
:06:26. > :06:30.talked about a lot during the campaign trail, he would slap
:06:31. > :06:36.tariffs on China, so this could possibly become a reality? Yeah,
:06:37. > :06:40.this is the third time President Trump has talked about the prospect
:06:41. > :06:43.of possibly a trade war between Beijing and Washington, DC. You're
:06:44. > :06:46.right, during the campaign it was hugely important for Donald Trump
:06:47. > :06:50.the candidate and he talked in extreme language saying China had
:06:51. > :06:54.raped the United States of jobs. What we're seeing now is reports
:06:55. > :07:01.from both Reuters and Bloomberg, sourced I have to say to anonymous
:07:02. > :07:05.people, the prospect in the coming days is rising of President Trump
:07:06. > :07:10.making a decision to order an investigation under some legislation
:07:11. > :07:13.in the States from 1970s four, a trade act of Ayr, to look at the
:07:14. > :07:20.relationship between China and the US and what they see as a long
:07:21. > :07:27.period of hostile Chinese actions -- 1974 -- a trade act there. Many
:07:28. > :07:32.firms are here in heavy industry. The fact, and we hear this a lot
:07:33. > :07:36.from US firms here, there isn't really reciprocity and a level
:07:37. > :07:38.playing field so what we might get from the President is an
:07:39. > :07:43.investigation although that could possibly be quickly followed by
:07:44. > :07:47.unilateral trade sanctions against China from the United States. I have
:07:48. > :07:50.to say it's not the first time the President-elect has talked about
:07:51. > :07:55.this but I think he has often linked trade to diplomacy, we saw last week
:07:56. > :07:58.I think the failure it is fair to say that America's efforts to force
:07:59. > :08:02.China to do something over North Korea and now we're facing the
:08:03. > :08:06.prospect of a trade war again. It's clear those two things are linked at
:08:07. > :08:11.the White House. Thanks a lot, Robin Brant, who is based in Shanghai.
:08:12. > :08:16.'S political leaders and car industry bosses will be meeting in
:08:17. > :08:20.Berlin today to talk about inner-city pollution in 16 German
:08:21. > :08:23.cities -- Germany's. It's been reported the government will ask for
:08:24. > :08:29.software updates for around 2 million vehicles at a cost of $354
:08:30. > :08:33.million. That's instead of more expensive changes to engines to cut
:08:34. > :08:37.diesel emissions. The meeting comes as the European investment bank
:08:38. > :08:41.announced it is examining claims of Volkswagen use one of its loans to
:08:42. > :08:49.develop a device to evade engine emission tests. In the meantime
:08:50. > :08:52.major US car firms have reported a sharp fall in sales in July, driven
:08:53. > :08:55.down by lower rental fleet sales and weaker consumer demand.
:08:56. > :09:04.Sales were down by 15% at General Motors, 10%
:09:05. > :09:08.at Fiat Chrysler and 7.5% at Ford compared with the year before.
:09:09. > :09:10.Shares in US car companies fell on the news.
:09:11. > :09:15.Let's quickly look at the markets in Asia. Many tech companies riding
:09:16. > :09:20.high today in Asia of the back of the news about Apple. Many companies
:09:21. > :09:26.in Asia supply bits for the iPhone and other elements like the iPad.
:09:27. > :09:31.Let's quickly look at the United States so you can see how the Dow
:09:32. > :09:37.ended. As we mentioned, not far at all from that 22,000 mark. Quite a
:09:38. > :09:42.feat really. The main markets are all higher. Apple shares up 6%.
:09:43. > :09:47.Apple now at a record high as well. Of course, the world's most valuable
:09:48. > :09:51.company in terms of market cap. That's all from me for now, see you
:09:52. > :10:02.in a moment for the news review. Women in their early 60s are ?32
:10:03. > :10:06.a week worse off on average