The results of the German chemical group BASF fell sharply in the second quarter, due to lower demand for its products from the car industry due to the corona crisis. BASF reported this on the basis of provisional figures. The company also suffered from the drop in oil and gas prices. In the past period, turnover amounted to 12.7 billion euros, compared to 14.5 billion euros a year earlier. That...
Rabobank will work as an insurance broker under the name Rabo Assurantie Makelaardij. As of October, the bank is expanding its insurance services for business customers. In the current insurance market, it is becoming increasingly difficult to insure specific sectors and risks, says the financial group. According to Rabobank, many insurers are opting for more standardization and less complexity...
Deutsche Post DHL performed above expectations in the past quarter due to a sharp rise in demand for parcel delivery. The German logistics and postal giant wants to have its 500,000 employees share in the profit, and gives them a bonus of 300 euros. Operating profit rose 16 percent in the second quarter to around 890 million euros, the company reported on the basis of preliminary figures. Due to...
German industrial production rose by 7.8 percent in May compared to the previous month. In April there was an unprecedented contraction in industrial production, due to corona measures that led to factory closures. Economists generally expected a stronger recovery. They expected an industrial production increase of 11.1 percent on a monthly basis. Industrial production declined by an adjusted 17...
Uber Technologies, the company behind meal delivery company Uber Eats, is taking over American Postmates. Bloomberg news agency writes based on sources that Uber pays nearly $ 2.7 billion for the company. The deal may be announced later on Monday. Uber and Postmates declined to comment on the news. Earlier, Postmates thought about an IPO. The company registered its stock market plans early last...
Aggressive bidding is unlikely at the 5G auction that starts Monday in the Netherlands. Analysts at KBC Securities say that only three parties have indicated that they are bidding: KPN, VodafoneZiggo and T-Mobile. The chance that another company will participate in the auction is small because the barriers to participation are relatively high. For example, the minimum amounts that the State wants...
The low interest rates that the Netherlands currently pays on its government debts ensure that they remain sustainable. Partly for this reason, the credit rating of Netherlands remains at the highest possible rating (Aaa) despite the corona crisis, according to credit rating agency Moody’s in a survey. According to the credit bureau, the biggest challenge lies in the future: the Netherlands...
ING has made an obvious choice with the appointment of its risk director Steven van Rijswijk. With many years of service with the bank, he is a veteran at ING, just like his predecessor Ralph Hamers. In addition, regulators will be satisfied that the risk director will take charge of ING, KBC Securities analysts argue. “His appointment is a safe choice.” The acceptance of Van Rijswijk...
Global oil demand will not return to pre-corona crisis levels until 2022 at the earliest. This was reported by the International Energy Agency (IEA) in a new report on the oil market. Demand for oil has come under severe pressure from the crisis and measures to address the coronavirus outbreak. The organization says that the drop in oil demand was somewhat less than feared due to the lockdown...
Import prices in the United States increased by 1 percent in May compared to the previous month. This is evident from figures from the United States government. Economists generally expected an increase of 0.6 percent. US export prices rose 0.5 percent on a monthly basis, in line with economists’ average expectations. Americans’ confidence in the economy increased slightly in June...