The silver price has reached its highest level since October 2013, while the gold price is also on the rise. The demand for the precious metals is increasing because investors are looking for safe havens to invest in because of the turmoil caused by the corona crisis. The price of a troy ounce of silver (31.1 grams) climbed to $ 22.83 on Wednesday morning. The silver price is also rising due to...
The German car industry has been hit hard by the crisis. The virus outbreak even caused production to stop for a while. Mercedes-Benz therefore recorded a significant loss in the past quarter, it was announced on Thursday based on preliminary quarterly figures. That is why it is necessary to cut costs further anyway. Daimler, the parent company of Mercedes-Benz, is likely to cut up to 20,000 jobs...
Inflation in the United States was 0.6 percent year-on-year in June, down from 0.1 percent in April. That made the American government known. The increase in the average price level corresponded to the expectations of economists. So-called core inflation, excluding fluctuating energy and food prices, came in at 1.2 percent, as in May. On a monthly basis, US consumer prices rose by 0.6 percent...
Import prices in Germany rose by 0.3 percent in May compared to a month earlier. This was announced by the German statistical office.
Economists expected an average increase of 0.4 percent. Import prices fell by 1.8 percent in April. Prices fell by 7 percent year-on-year in May.
Qantas fires 6,000 employees, about a fifth of the workforce. Like other airlines, the Australian airline has been hit hard by the corona crisis. A large part of the fleet has been grounded for some time and the majority of the employees had already been sent on temporary leave. Recently, the Australian government decided to close the country’s borders longer due to the corona virus. As a...
The American oil and gas group Chevron is starting a sales process for its interest in a large liquefied natural gas (LNG) project in Australia. It is the North West Shelf project. Chevron has an almost 17 percent stake in that project and has already been approached by potential buyers. Other participants in North West Shelf are BP, Shell, BHP, Woodside Petroleum and Japan Australia LNG. The...
Friday there will be new strikes at Tata Steel in IJmuiden. The shippers of sea containers have put down the work, just like some of the warehouse staff. FNV chose these departments, because the union fears that this work may be outsourced abroad in the future, says director Roel Berghuis. About a hundred employees are involved in Friday’s actions. On Wednesday, employees of the ore...
Volkswagen’s global sales fell sharply again in May due to the corona crisis. Compared to the same period last year, the German auto group sold nearly 34 percent fewer cars, after dropping more than 45 percent in April. In total, the parent company of brands such as Volkswagen, Seat, Audi, Skoda and Porsche sold 609,000 vehicles worldwide. Sales fell sharply in all regions, except in China...
Just Eat Takeaway meal delivery company can take its first step in the United States, where the company has so far had no presence, with an acquisition of the American industry partner Grubhub. News channel CNBC reported on Friday based on insiders that the Dutch-British company has expressed its interest among the Americans. The German Delivery Hero would also like to take over Grubhub. Tech...
The German economy is likely to recover significantly from the deep recession of the corona crisis next year and the following year. The German central bank wrote it in an official release. By 2020, the Bundesbank expects the economy to shrink by 7.1 percent. But by 2021, the largest economy in Europe should rebound by 3.2 percent and by 2022 by 3.8 percent. In addition, the Bundesbank assumes...