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The market is off on continued global economy fears as eurozone industrial production fell and markets in China sold off. Shares of AAPL are off in early trading as investors worry about estimates for the quarter. Upcoming events include Tim Cook’s keynote at the D10 Conference on May 29 and Apple’s developer conference (WWDC) is slated to start June 11. Investors remain focused on iPhone penetration globally and the anticipated launch of the next generation iPhone in the fall; iPad adoption; market share growth of the Mac business as well as the upcoming refresh; the introduction of the anticipated Apple TV set; and platforms such as Siri, iAd and iBooks. Shares of Apple trade at 9.0x Enterprise Value / Trailing Twelve Months Free Cash Flow (including long-term marketable securities).
David Beckham has topped a list of the richest people in sport in the UK and Ireland.
The LA Galaxy footballer, 37, was in pole position with a fortune of £160m, according to the annual Sunday Times sport rich list.
In terms of the world’s richest athletes, Mr Beckham was only 10th, as golfer Tiger Woods led with £538m.
Tennis player Maria Sharapova was the richest female athlete, with earnings boosted by lucrative endorsement deals.
There were 48 footballers in the top 100 in the UK and Ireland.
But the second place after Mr Beckham went to Paul Caddick, the property and construction entrepreneur who runs rugby league club Leeds Rhinos.
No current British or Irish athletics competitor – that is, a cyclist, track and field athlete or swimmer – made the top 100 in the year of the London Olympics.
Last year, Mr Beckham was number two with Wigan chairman Dave Whelan in first place at £190m.
Globally, in 2012, Mr Woods was followed by German Formula One driver Michael Schumacher and basketball legend Michael Jordan.
Mr Putin will return to the presidency after an absence of four years in which he served as prime minister. The outgoing President, Dmitry Medvedev, was widely seen as an ally of Mr Putin.
He won a third term as president in controversial elections in March.
On Sunday, thousands of protesters opposed to the inauguration clashed with police in Moscow.
Mr Putin will take the presidential oath at the Grand Kremlin Palace, in a hall that was once the throne room of the Russian tsars, the BBC’s Steve Rosenberg in Moscow reports.
If he completes his six-year term, Mr Putin will be the longest serving Russian leader since Joseph Stalin, our correspondent says.
However, Mr Putin faces many problems; the political system he created has been showing cracks, economic growth is forecast to slow, and violence in the volatile North Caucasus continues, he adds.
How he deals with the wave of opposition protests which broke out last December will also be a key test of his administration, correspondents say.
“A change in leadership brings uncertainty because you don’t know exactly what you’re getting into,” said Ryan Detrick, senior technical strategist at Schaeffer’s Investment Research.
“It won’t be a be-all end-all sell signal, but new leadership in France could cause investor jitters that reverberate throughout global financial markets,” said Detrick.
Hollande campaigned on the need to focus more on economic growth to reduce public debt, as opposed to austerity, which has been the main policy prescription for the three year-old European debt crisis.
While it remains to be seen to what extent Hollande will push his growth agenda, his countering approach causes concerns about how he might work with German Chancellor Angela Merkel, the key proponent of austerity.
Even so, many economists and market strategists say Hollande is likely to pursue policies that maintain fiscal discipline and will also make efforts to keep good relations with Germany.
While there could be some “initial friction with Merkel,” Hollande will eventually form his own bond with the German leader, said Antonio Barroso, an analyst at political research firm Eurasia Group.
“Hollande is very pragmatic.” said Barroso. “He knows that Germany is his most important partner. They will have to agree on a solution for the crisis.”
In a victory speech to supporters in Tulle, Hollande declared his win “a great date for our country, and a new start for Europe.” The Socialist challenger promised to govern for all of France.
“Many people have been waiting for this moment for many long years. Others, younger, have never known such a time. … I am proud to be capable to bring about hope again,” he told the cheering crowd.
“Tonight, there are not two Frances. … There is only one France, only one nation that is united with the same destiny,” Hollande said.
The president-elect, who will be the nation’s first left-wing president since Francois Mitterrand left office in 1995, suggested there was a sense of relief in many European countries because of his win.
“Austerity can no longer be something that is inevitable,” he said.
Later, Hollande went to Paris, where he addressed a large crowd at the Bastille. Supporters waved flags and shouted his name.
“I know what many people feel — years and years of wounds, of ruptures, and we have to repair, recover, unite. That is what we’re going to do together,” he vowed.
Hollande congratulated Sarkozy, who earlier conceded to Hollande as results from exit polls and official tallies in the runoff election came in.
Another day of turmoil on world markets saw the FTSE 100 Index close 2 per cent, or 110 points, lower at 5465.5 as attempts to form a coalition government in Greece continued to stutter.
The country is facing the prospect of another election next month after resistance from anti-bailout opponents left president Karolos Papoulias unable to broker a power sharing deal.
Uncertainty over Greece’s future in the eurozone hit financial stocks today as banks and insurers dragged London’s leading shares index to a fresh low for 2012.
Barclays was the biggest faller, down 6 per cent or 13p at 189.8p, while Royal Bank of Scotland dropped 1.1p to 21.9p, and Lloyds Banking Group shed 1.7p at 29.4p.