Stock markets take a bath after Intel profit warning
Article Abstract:
Computer chip manufacturer Intel Corp has warned that its revenues for the fourth quarter of 1997 may be 10% lower than the original estimate of $6.5 billion. There was a negative reaction on stock markets across the world to this announcement. High technology stocks were badly affected, with companies such as Siemens and SGS-Thomson Microelectronics seeing a sharp fall in their share price. Intel attributes its weakened financial performance mainly to unexpectedly low demand for chips from the PC industry.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1998
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World markets spooked by fresh S Korean crisis
Article Abstract:
A new financial crisis has emerged in South Korea, with the won declining by its maximum daily limit of 10% to a record low against the dollar. South Korea's credit ratings have been substantially reduced by Moody's and Standard and Poor's. The problems in South Korea, sparked off by concerns that the International Monetary Fund's rescue programme will not be sufficient to fulfill South Korea's short-term debt obligations, have prompted a sharp fall in stock markets worldwide.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1997
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