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The quarterly report of the German car manufacturer Volkswagen showed a decrease in net profit in the first quarter by 7.5% compared to the same period a year earlier to 3.05 billion euros. As noted in the company's message, deductions to reserves made by Volkswagen in connection with significant legal risks in the amount of 1 billion euros were the main reason for the fall of the indicator. The reduction in operating profit to 3.9 billion euros confirmed the forecasts of economists. Revenue during the earnings period amounted to 60 billion euros, rising by 3.1% over the year. The concern reduced car production by 2.6% to 2.66 million vehicles. The sales rate of 2.58 million vehicles recorded an annual decline of 6.7%. At the same time in the Asia-Pacific region there was a decrease in sales, Western Europe and South America showed their growth.
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, ...
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 ...
American multinational automaker Ford Motor Co. (F.N) announced on Thursday that its vehicle sales increased by 3% from April to June in mainland China. It would be the first time that the company's first quarterly sales rose in the world's ...
German automotive manufacturing company Volkswagen Group (VOWG) announced on Monday that it would gradually resume operations in the states of Puebla and Guanajuato on June 15. The company decided to pause its activities last March due to ...
The National Bank of Canada and Scotiabank reported acceptable second-quarter results on Tuesday. Both banks surpassed analysts’ estimates even though their respective profits suffered from loan-loss provisions due to the novel coronavirus ...
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