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Hourglass Cufflinks

Federal Reserve Chairman Jerome Powell on Friday said he would not resign even if President Donald Trump asked him to do so, a clear assertion of the U.S custom cufflinks edmonton. central bank’s independence in the face of Trump’s strident criticism of the Fed’s rate hikes. Legal experts say it is not clear whether Trump could in fact dismiss Powell. After the Fed’s decision in mid-December to raise rates for a fourth time in 2018, reports surfaced that Trump had discussed with his advisors the feasibility of firing Powell..

SEOUL (Reuters) – Samsung Electronics surprised the market on Tuesday with an estimated 29 percent drop in quarterly profit, blaming weak chip demand in a rare commentary issued to “ease confusion” among investors already fretting about a global tech slowdown. The South Korean firm also said profit would remain subdued in the first quarter due to difficult conditions in memory chips, but that the market is likely to improve in the second half of the year as customers release new smartphones custom cufflinks edmonton.

Weaker earnings at the world’s biggest maker of smartphones and semiconductors adds to worries for investors already on edge after Apple Inc last week took the rare move of cutting its quarterly sales forecast, citing poor iPhone sales in China custom cufflinks edmonton. China boasts the world’s biggest smartphone market, but a slowing economy, exacerbated by a trade war with the United States, has seen demand for gadgets drop across the tech sector. Growing support for domestic champions has also impacted foreign brands, with Samsung’s market share falling to 0.9 percent from a high of 18.2 percent in 2013..

Still, the South Korean firm’s chips power the handsets of most major makers, including Apple and China’s market leader Huawei Technologies Co Ltd [HWT.UL] custom cufflinks edmonton. Its memory and processor chips account for over three-quarters of overall profit and about 38 percent of sales. For October-December, Samsung estimated operating profit of 10.8 trillion won ($9.67 billion), missing the 13.2 trillion won average of 26 analyst estimates in an I/B/E/S Refinitiv poll. It also estimated an 11 percent fall in revenue at 59 trillion won..

Samsung routinely releases estimated earnings figures before posting detailed results and elaboration toward the end of the month. For the just-ended quarter, however, it issued its first commentary since late 2014, when mobile phone profit dropped. It said weaker-than-expected demand from data center customers adjusting inventories drove down chip prices and hurt earnings in the face of rising macro uncertainty. It did not disclose the customers or elaborate on the macro uncertainty. Data center demand – mostly from the United States – currently accounts for as much as nearly 30 percent of demand for Samsung’s DRAM chips compared with 5 percent five years ago, said analyst Kim Yang-jae at KTB Investment & Securities custom cufflinks edmonton.