Apple Inc posted its third successive quarter of declining iPhone sales on Tuesday and forecast slimmer-than-expected profit margins over the upcoming holiday season even as it projected record sales, sending its shares down. "In essence, in China and elsewhere, while Apple’s products are still seen favorably, the distance between Apple and its competitors is nowhere near as great as it once was," Neil Saunders, head of retail research firm Conlumino, wrote in a note. Apple shares fell 2.8 percent to $114.99 in after-hours trading.
By David Shepardson WASHINGTON (Reuters) - A U.S. judge on Tuesday approved one of the biggest corporate settlements on record, Volkswagen AG's $14.7 billion deal arising from its diesel emissions cheating scandal, and the German automaker said it would begin buying back polluting cars in mid-November. U.S. District Judge Charles Breyer in San Francisco signed off on VW's settlement with federal and California regulators and the owners of the 475,000 polluting diesel vehicles in a pivotal moment for the world's No. 2 automaker as it tries to move past a scandal that has engulfed it for more than a year. VW admitted in September 2015 to installing secret software in its diesel cars to cheat exhaust emissions tests and make them appear cleaner in testing than they really were.