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German carmaker BMW reported a lower profit forecast for the current year amid a deterioration in the automotive market caused by the US trade war with China, which is BMW's largest market. Specialists of BMW note the strengthening of price pressure in several automobile markets. The German company produces premium SUVs for China at its largest plant in the US. According to BMW estimates, in 2018 pre-tax profit will decrease moderately, the profitability will decrease to 7% from 8.9% of revenue. During trading on Tuesday, BMW shares fell in price by more than 5%. This is the fastest rate of decline for 3 months.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
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