A major market milestone has been reached on Wall Street. Tech giant Apple, following a 70% share-price surge this year, has eclipsed the value of the entire US energy sector, says Robin Wigglesworth on ft.com.
Apple now boasts a market capitalisation of almost $1.2trn, while the S&P 500 Energy index stands at $1.12trn.
Oil prices have been hampered by signs of slowing global demand, while Apple has shrugged off fears that trade tensions would dent sales and profits thanks to a strong performance from its wearables division: Apple Watches and Airpods helped give revenue an unexpected fillip in the third quarter.
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Apple has regained its position as America's most valuable listed company from Microsoft, worth $1.16trn.
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Henderson Far East Income Trust
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Frozen thresholds could push ‘tax freedom day’ to latest date this centuryTax freedom day is the point in the year you stop earning for the taxman and start earning for yourself. A rising tax burden could push it to 12 June this year – the latest date since 1982.
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Family left with £20k IHT bill because of out-of-date tax adviceFrozen tax thresholds and dated guidance helped drag the estate into an inheritance tax liability despite extensive use of gifting to avoid a bill
