The German car manufacturer Daimler in the second quarter of 2019 recorded a net loss of $1.6 billion. According to the results of the same period a year earlier, the automobile company reported a net profit of 2.6 billion euros. Defective airbags manufactured by Japanese Takata and installed in Daimler car models caused these cars to be revoked in many regions of the world, including Europe. This led to an increase in the cost of the German automaker to almost 1 billion euros. In addition, the company had to increase the expenses by 1.6 billion euros due to the diesel scandal. Among the factors that had a negative impact on quarterly figures, the company also cites the reduction in the cost of the Mercedes-Benz Vanz division by 0.5 billion euros, which was caused by the revision of the grocery package.
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 ...
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, ...
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
Indonesia on Wednesday rolled out a 100 trillion Rupiah ($6.92 billion) loan guarantee scheme for prioritized businesses to keep them afloat as the COVID-19 situation continued to worsen around the world, the country’s finance minister ...