Opening Bell: Ireland's economic warning, Apple's tough quarter, Twitter's fading relevance

Get up to speed with today's breaking Irish and international business news

The Department of Finance says Ireland faces threats from growing uncertainty in the global economy.

It issued the warning in a report sent to the EU commission - despite the fact that economy here is expected to grow by 4.9% this year.

The Department also says that global economic uncertainty is higher than at any stage since the 2008 financial crash.

It also highlights uncertainty about China and the possibility of a Brexit as major concerns.

The State's tax take is also improving as consumers spend more, and Ireland's recovery gathers speed outside of the capital.

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Apple has reported its first year-on-year decline in quarterly revenue in more than a decade as sales of the iPhone fell for the first time.

The technology giant said it sold 51.2 million iPhones in the first three months of 2016 - that was down on the 61 million sold a year earlier.

It reported revenues of $50.6bn for the first quarter - that's 13% less than last year.

Apple CEO Tim Cook said that the "team executed extremely well in the face of strong macroeconomic headwinds."

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Twitter has failed to get advertisers onside, and has reported weaker than expected revenue for its first quarter.

The microblogging site's revenue dropped by 11% after the publication of the results.

Its number of total average monthly active users rose from 305 million to 310 million during the final quarter of last year - this was slower-than-expected growth.

“This is our first quarterly update after laying out our long-term strategy and priorities. As a reminder, we have five priorities for the year: refining our core service, live-streaming video, creators and influencers, safety, and developers," the company said in a statement.

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Many flights to and from Germany are being hit by a strike today.

Public sector workers in baggage handling and airport security are holding half-day strikes at a number of airports.

Aer Lingus has cancelled today's scheduled flights to and from Berlin and Munich.

German carrier Lufthansa has cancelled 900 flights.