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In the third quarter, the largest automaker in South Korea, Hyundai Motor, reduced its operating profit 4.2 times compared to the same period last year to 288 billion 900 million won, which was the most significant drop in the index since 2010. The quarterly net profit of 269 million won was also the minimum in 7 years. Only revenue showed growth in the third quarter, having increased by 1% to 24 trillion 400 billion won. In South Korea, Hyundai sales decreased by 1.4%, in the global market – by 0.4%. The company expects the first since 2008 decline in sales for the entire year to less than 4 million cars.
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 ...
Spain’s unemployment rose to 15.33% for the second quarter of 2020, according to Tuesday’s data from the National Statistics Institute amid the worsening COVID-19 situation in the country. The unemployment rate surged past the ...
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