Vodafone Ireland said yesterday that speculation originating in the US suggesting its parent company as the preferred distributor of Apple’s new iPhone product in Europe, was “pure speculation”.

Stocks in the United States finished a quiet session little changed today as investors’ anticipation of the Federal Reserve’s decision on interest rates muted their reaction to lower oil prices and a trio of acquisitions.

THE world’s biggest chip maker Intel has said first-quarter profit sank 38%, the biggest decline in more than four years, as the company lost market share to Advanced Micro Devices Inc (AMD).

Wall Street surged again today lifting the Nasdaq composite index to its best close in nearly 22 months as investors welcomed reports of strong growth in the nation’s manufacturing sector and a hefty rise in construction spending.