Activity in Italian industry shrank sharply in March due to the outbreak of the country’s corona virus and government quarantine measures to contain the disease. British market researcher Markit announced this based on his purchasing managers index. That index for the Italian industry plummeted last month to a 40.3 level from 48.7 in February. A level of 50 or more indicates growth, below...
Activity in the Chinese industry recovered sharply in March, after the strongest contraction for China’s industry was seen in February, due to the corona crisis. With this, the world’s second economy appears to be cautiously recovering from the severe blow to the virus outbreak. According to the Chinese statistics agency, the purchasing managers index, which measures industrial...
Christine Lagarde, president of the European Central Bank (ECB) went into temporary isolation last week after being in contact with a person infected with the corona virus. Insiders say it to the Bloomberg news agency. The ECB declined to comment, but said that Lagarde worked from her office this week. Lagarde is holding preliminary video conferences to discuss the ECB’s measures to tackle...
The French government is launching a support program of € 4 billion for start-ups to get through the corona crisis. This was announced by the French secretary of state for digital affairs Cédric O on French radio. This money should prevent starting internet companies from getting into financial difficulties due to the crisis. “We come up with a specific plan to support the liquidity of...
German container transport company Hapag-Lloyd thinks that this year’s growth will be affected by the impact of the corona pandemic. The shipping company expects demand for container transport to fall due to lower economic activity. For the ultimate damage, the container giant still has a big battle to win. The beginning of 2020 went “reasonably”, according to Hapag-Lloyd. The...
Deutsche Post DHL posted a much higher profit last year. The company boosted revenue and benefited from cost-effective reorganisations at the mail and package delivery division in Germany. For this year, the group is warning about the effects of the new corona virus. The profit increased by 26 percent last year to 2.6 billion euros. At 63.3 billion euros, sales were nearly 3 percent higher. For...
The risks of a recession have increased due to the further spread of the new corona virus worldwide. Where the virus outbreak seemed to be primarily a Chinese issue, the disease is now spreading rapidly around the world. This disrupts both the demand for products and the supply, which, according to credit rating agency Moody’s, has increased the risk of economic contraction in many...
The German pharmaceutical and specialty chemicals company Merck warns of a negative impact of the new corona virus on its revenues. The impact of the outbreak on sales is 1 percent, according to the concern. The assumption here is that the number of infections and the death toll in the first quarter peaks. Merck still thinks that it will be able to achieve “solid” revenue growth over...
Kenes Rakishev’s mainstream business is built around the Central Asian metallurgical giant Sat&Company. His efforts to reclaim scattered assets of the BTA bank around the world are also part of his growth strategy. Kenes Rakishev is also a well-known venture investor. He invested in Fastline Ventures, Telegram’s ICO, blockchain-based Finney smartphone project and Net Element, an American...
The stock exchanges in New York closed considerably lower on Friday. Just like a day earlier, sentiment was again depressed by concerns about the new corona virus and the economic consequences of the ongoing outbreak. Investors also focused on, among other things, operating results such as those of tractor builder Deere. The Dow-Jones index closed 0.8 percent lower at 28,992.41 points. The broad...