AuthorMaurice Eisma

Maurice Esma, a co-founder of EconomicInform is a freelance journalist with the expertise in international finance and corporate rights. The author can be reached by email [email protected]

Virus fears broke the French PMI

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The confidence of French entrepreneurs has been hit hard by the corona crisis. The index measuring confidence shows the strongest decline ever before March, the French statistics agency reported. The indicator dropped to a reading of 95 out of 105 in February. This is the sharpest decrease since the measurements started in 1980. French entrepreneurs are particularly pessimistic about future...

Fraport airport operator records 75 percent air traffic plunge

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Lufthansa

The number of passengers at Frankfurt airport has fallen sharply due to the crisis surrounding the corona virus. According to airport operator Fraport, the number of processed travelers at the airport plummeted by nearly 75 percent to 331,353 between March 16 and 22. The number of flight movements at Germany’s largest airport shrank by more than 58 percent to 3,960. In freight transport...

Great Britain’s economy shows stagnation in January

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The economy of Great Britain remained unchanged in January compared to a month earlier. The British National Statistical Office reported this. Economists generally expected the economy to grow by 0.2 percent on a monthly basis, after a plus by 0.3 percent in December. The British central bank came earlier in the day with an interest rate cut and other measures to stimulate growth. The economy of...

Prosus invested in emerging Brazil IT projects

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Prosus is entering a joint venture in Grupo ZAP, owner of various sites and databases for the real estate market. OLX Brazil, in which the tech investor has a 50 percent interest, buys the company for 2.9 billion Brazilian real, equivalent to 57.5 million euros. In addition to Prosus, technology investor Adevinta also has an interest in the online marketplace OLX Brazil. Grupo ZAP is, according...

Russia willing to shrink oil production

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Russia is willing to pump up less oil to counteract the fall in prices caused by the new corona virus. That is what Russian President Vladimir Putin has said. This increases the chance that oil-producing countries of the OPEC oil cartel and allies will decide on further production cuts later this week in Vienna. Putin did emphasize that Russia has no problem with current prices. Oil prices showed...

Delta joins the no-flight-to-China club

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The American airlines Delta Air Lines and American Airlines have also stopped their flights to China for the time being. Concerns about the spread of the new corona virus in that country prompted companies to take this measure. Delta was the first American airline to follow the example of KLM, Air France and British Airways, among others. American Airlines announced the same decision moments...

December US home sales fall m/m, still strong

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The number of home sales handled in the United States fell by 4.9 percent in December compared to a month earlier. The American branch association of brokers reported this. It is the largest decrease since May 2010, partly because fewer homes were put up for sale. On average, economists had expected an increase in the number of provisional sales by 0.5 percent. In November these upcoming home...

Semiconductor companies enjoy Intel better-than-expected report

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The European chip sector may move on Friday after the better-than-expected results of the American chip company Intel. The company benefited from the increasing demand for chips for data centers last quarter. Partly as a result, the chip maker turned its strongest year ever in terms of turnover. Intel also set ambitious plans for 2020. Investors were pleased with the results. In the so-called...

Hugo Boss sales figures increased 4 percent in Q4 2019

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The German fashion house Hugo Boss posted a higher profit and turnover in the fourth quarter of 2019. The company mainly benefited from better sales performance in Europe and in particular in Great Britain and France. Sales also increased in mainland China, but business in the United States declined. Revenue adjusted for exchange rate effects, on the basis of preliminary figures, increased by 4...

Jet Airways is transferring its Dutch activities to KLM

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The bankrupt Indian airline Jet Airways is transferring its Dutch activities to KLM. Jet reported this in a statement to the Indian stock market regulator. There was no mention of the assets in question. Jet did, however, say that when the deal is completed, it only concerns the sale of parts and that the shareholder structure is not affected. Jet was once the largest airline company in India...

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