European companies producing industrial goods began to feel negative consequences because of the US trade conflict with China and other countries, reports Reuters. This can be explained by the fact that the new tariffs push up costs of spare parts and raw materials, as well as lead to new supply disruptions. Manufacturers of equipment that use thousands of parts from around the world - from the...

The US manufacturer of electric vehicles and solar panels Tesla Inc completed the quarter with a record loss once again, but its revenue exceeded forecasts, and the founder and head of the company Elon Musk said that he expects to receive profit in the near future. As reported in the company's press release, the net loss in April-June increased to $ 718 million, or $ 4.22 per share, compared to $...

President of Iran has been summoned to the country's parliament. MPs gave Hassan Rouhani a month to prepare a report on the economic situation in the country. In particular, they want to know why Iranian banks are denied access to international financial systems, despite Tehran's signing of a nuclear deal that provided for the lifting of sanctions. The question was voiced less than a week before...

The Swiss bank Credit Suisse Group AG increased its net profit in the second quarter of 2018 more than twice thanks to higher revenues. As reported in the bank’s press release, net profit in April-June rose to 647 million Swiss francs ($ 652.5 million) from 303 million francs for the same period in 2017. Quarterly revenue of the bank increased from 5.21 billion to 5.6 billion francs. ...

The company's profit decreased for the first time in 7 quarters. However, the South Korean company is still optimistic and hopes for stability in the production of semiconductors. Samsung Electronics published an optimistic forecast for the coming months, citing the strong chip business. The forecast is somehow contrary to the fact that the technology giant reported its first decline in profits...

Head of the largest Swiss watch-manufacturing group owned by the Hayek family, Swatch Group CEO Nick Hayek said that he intends to withdraw all watch and jewelry brands from the Basel Fair next year. This is a blow to Baselworld, a gift to its competitors and, at the same time, a sign of profound changes in the marketing strategy of luxury groups. Nick Hayek told about his decision journalists of...

A 20-percent stake in 50 Hertz, which was put up for sale, will be acquired by the German state bank KfW. The government of the Federal Republic of Germany explained its actions by considerations of the security policy. Once again, China failed to acquire a stake in 50Hertz company, one of the key operators of the transmission system in Germany. The state bank KfW on behalf of the government in...

Facebook’s shares fell by 24% after publication of regular financial statements. This even indicates that investors are waiting for the company to have uniquely successful results. Facebook’s revenue grew 42% and profit – by 31%, but these results did not suit investors, as they were below expectations of analysts. In addition, they were concerned by forecasts of a slowdown in growth for the...

The largest Chinese payment systems Alipay (belongs to Alibaba Group) and Tenpay (owned by Tencent holding company) are fined $ 90,000 each for violations of the rules for controlling foreign exchange operations, says a statement on the website of the state currency control department of the PRC. It is noted that Alipay was fined for filing a declaration with incorrect data on the balance of...