Stock markets in Asia were mostly down on Thursday. Investors were cautious after new signals that central banks like the US Federal Reserve are looking to step up their efforts to tackle high inflation. There are fears that this could affect economic growth. Furthermore, the financial markets reacted to […]
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McDonald’s has Found a Buyer for 850 Restaurants in Russia
McDonald’s has signed a deal with Alexander Govor, the owner of 25 Siberian fast-food chain franchises, to acquire all of its restaurants in Russia. The American company had closed all restaurants in the country after the Russian invasion of Ukraine. Govor will take over the nearly 850 McDonald’s restaurants […]
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White House Lashes Out at Amazon Boss Jeff Bezos: World’s Richest Men is Against Economic Reform
The White House has struck a chord with Amazon founder Jeff Bezos after he publicly criticized the fiscal and economic policies of President Joe Biden’s administration on Twitter. “It doesn’t take much imagination to imagine why one of the richest men on Earth is against middle-class economic improvements,” said […]
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European Commission: Get Rid of Oil This Year, Hit Russia and Western Helpers
The European Commission wants to ban the import of crude oil from Russia within six months and that of petrol and other oil products by the end of the year. She also proposes to cut off three major banks from the international payment service SWIFT and to tackle European […]
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Higher Sales Prices Beneficial for Mercedes-Benz
The German car group Mercedes-Benz benefited in the past quarter from higher sales prices and good sales of more expensive models. As a result, the company was able to compensate for headwinds caused by, among other things, the chip shortages in the car industry and the war in Ukraine. […]
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Fewer Car Sales But Higher Hyundai Profit Due to Cheap Won
Automaker Hyundai has earned more in the first quarter from the sales of its cars. In particular, vehicles sold abroad yielded Hyundai a lot because the Korean won is currently relatively cheap. Hyundai sells about 70 percent of its cars overseas. Hyundai, which also includes sister company Kia, is […]
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Ericsson Expects New Fines for Bribery
Swedish network equipment maker Ericsson expects to be fined for a bribery scandal in Iraq. Ericsson is said to have paid bribes in that country to gain access to transport routes. Money from the company would also have ended up with the terrorist organization IS. In addition, the company […]
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IEA: Slightly Less Oil Needed Due to Chinese Corona Measures
Due to the corona lockdowns in China, that country’s economy is growing less fast, and slightly less oil is needed worldwide this year. As a result, according to the International Energy Agency (IEA), demand for jet fuel is declining. China is trying to control new corona outbreaks with strict […]
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Sony and Honda Want to Make Electric Cars Together
Electronics giant Sony and car maker Honda are working on a strategic alliance to make electric cars together. The Japanese companies have announced this. On the left is the newly introduced Sony Vision-S 02; on the right is the model S 01 that was already unveiled a year ago. […]
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International Energy Agency Predicts: European Gas Demand will Fall This Year
After a strong recovery in global gas demand in 2021, growth will be weaker this year. This is partly due to the high gas prices. In Europe, demand will even fall. The International Energy Agency (IEA) predicts this on Monday. For Europe, the IEA expects demand to be 4 […]