AuthorLeah Kunze

Leah Kunze just graduated MBA and is proud of it. She is interested in automotive industry and innovations. She well be glad to receive a mail to [email protected]

Visma invites new major shareholder

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The Norwegian software company Visma has acquired TPG Capital and Warburg Pincus as new shareholders. Existing investor CPPIB also acquires more shares in an investment round where the company has been valued at USD 12.2 billion, some EUR 10 billion. That is more than three times as much as during the last investment round in 2014. The fast-growing Visma is active in Europe, where it recently...

TUI revenues fall down to almost nothing

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TUI, the tour operator and airline, have generated virtually no revenue in the last quarter. Because travel restrictions were imposed worldwide to prevent the spread of the coronavirus, it was not possible to offer holidays. TUI operates hotels, flights and cruises and sells travel package through its travel agencies. All these activities came to a standstill because of the pandemic. Turnover in...

Gold and silver prices set records

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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...

Daimler to cut 20.000 jobs in two coming years

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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...

Money press and GDP big dive hasn’t induced inflation

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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...

Germany reports rising import prices

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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 6000 employees, 15000 more are on forced leave

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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...

Chevron begins divesting from LNG project in Australia

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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...

Tata Steel workers fear for their jobs

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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...

China is the least affected sales region for VW

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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...

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