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 […]
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Apple Becomes the First Company Ever Worth More Than $3 Trillion
Apple became the first company ever to reach a market cap of $3 trillion. Converted, it concerns a value of 2,260 billion dollars. In 2018, the American technology company was the first to cross the threshold of USD 1,000 billion in market capitalization. In August 2020, the iPhone maker […]
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Increased Energy Prices Cause the Highest Inflation Since 2002
Goods and services became 3.4 percent more expensive for consumers in October than a year earlier. That is the most substantial increase since April 2002, reports the Central Bureau of Statistics (CBS). Gas and electricity, among other things, became considerably more expensive last month, causing inflation to rise. Prices […]
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ECB Decides Again on Support Measures for Eurozone
The European Central Bank (ECB) will make another interest rate decision on Thursday. Due to the rising inflation in the eurozone, policymakers at the central bank probably have a lot to discuss. But economists generally assume that the ECB will not develop an accelerated phasing out of support measures yet. […]
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US to Close US Branch of China Telecom
The United States has banned the activities of the US branch of China Telecom. FCC regulator says the telecom company is controlled by the Chinese government and is, therefore, a threat to US national security. The FCC has given China Telecom Americas 60 days to stop its service. The […]