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The European Union introduces a new standard for harmful emissions at the level of 95 grams of CO2 per kilometer traveled, which automakers will adhere to starting in 2021. By this time, the largest automakers in Europe should reduce emissions by about 20% from today's levels. According to analysts at UBS, automakers' spending on these goals will reduce their profits by 7,400 million euros. UBS calculations showed that Peugeot could suffer the greatest losses, profits of which would be reduced by 25% per share. Earnings per share for Fiat Chrysler will be 20%, for Volkswagen - 13%, for Renault - 10%. The new rules provide for non-compliance with this norm fines of 95 euros for each exceeding gram of CO2, multiplied by the number of cars sold in Europe.
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, ...
On Tuesday, Tesla Inc.’s (TSLA.O) Chief Executive Officer Elon Musk announced that the automotive company would start to open its licensing software to supply powertrains and batteries for other car manufacturers. “Tesla is open ...
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 ...
Britain on Wednesday signed a supply deal for up to 60 million doses of a possible COVID-19 vaccine that is being developed by pharmaceutical companies GlaxoSmithKline (GSK) and Sanofi. The financial details of the agreement were not disclosed. However, ...
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 ...
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