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The Chinese company Geely, specializing in the production of cars of well-known brands, said that it expects weak financial indicators for the first half of the year, which is explained by the weakening of the Chinese automobile market. According to its estimates, net profit will fall by 40% from 6.7 billion yuan from the same period last year. The company also predicts that at the end of the earnings period, sales of its cars will be reduced by 15% compared to the same period a year earlier. Geely plans to publish its financial results for the first half of August. During trading in Hong Kong, Geely shares lost 3.8%. Its capitalization amounted to 110.8 billion Hong Kong dollars, a decrease of 15.2% from the beginning of the year.
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 dollar sat near two-year lows on Wednesday as the United States struggled to control the coronavirus outbreak, breaking hopes for a fast economic recovery. The gloomy outlook for the U.S. economy is expected to urge the Federal Reserve ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
The second quarter had seen South Korea slipping into recession. This came to be the country’s sharpest economic downturn in more than two decades as the novel coronavirus crisis weighed on exports and social distancing measures halted ...
Renault SA (RENA.PA) announced on Monday that its global car sales fell by 34.9% in the first half of the year due to the impact of the coronavirus pandemic. However, the company said that it had seen some signs of recovery in June. The French ...
KYC Policy