Chip machine maker ASML continued to increase sales and profits in the third quarter. Thanks to increased homeworking, technology companies continue to do well in the midst of the coronacrisis, which also stimulates the demand for increasingly sophisticated chips. ASML is a supplier to almost all major chip makers. Sales in the third quarter amounted to almost EUR 4 billion, compared with EUR 3.3...
Mr Lucas Bols acquired the US distribution rights for Pallini Limoncello. The distribution contract starts in mid-december and is expected to add around 3.5 million dollars annually to Lucas Bols USA’s turnover and make a positive contribution to the EBIT. Pallini is a family business founded in 1875 in Abruzzo, Italy. Pallini Limoncello is sold in more than 45 countries, with the United...
The Swedish investor EQT is allegedly interested in acquiring KPN. Bloomberg News Agency reports, based on insider information, that the Swedes are talking to advisers about the possibilities. The telecom company itself and the investor refuse to comment. According to Bloomberg’s sources, the discussions between EQT and the advisors were still in an early phase. As a result, it is not yet...
French authorities detained Mukhtar Ablyazov, a fugitive from Kazakhstan. It was briefly afterwards the businessman and politician got his refugee status confirmed. It may sound strange but fits well into the complicated French laws and even more complicated case of Mukhtar Ablyazov. Mukhtar Ablyazov, Kazakhstan oligarch and politician was detained by French authorities. He is accused of breach...
The French fuel giant Total invests in the US startup Hyzon Motors, which makes hydrogen fuel cells for trucks. Total thus aims to promote the development of cleaner energy sources. It is not known how much money is put into the start-up, but the total investment round, which other companies also participated in, was more than USD 15 million and could rise to USD 20 million, according to the...
The British oil company, Prime Minister Oil, is merging with Chrysaor to form the largest oil and gas producer in the British part of the North Sea. The merger creates a group which produces the equivalent of more than 250,000 barrels of oil every day. The combined company has a stock exchange listing in London. The majority of the merger is owned by Chrysaor. With the deal, Prime Minister Oil...
RBC Capital Markets claims to prefer Shell as a player in the natural gas market. The business bank argues that the gas market is structurally improving and that this improvement can continue in 2021, also through a winter that may become colder than usual. Shell would be well positioned for this. Shell’s advice is on outperform. The bank believes that Shell’s cash flow in the third...
European stock exchanges seem to open lower. The news that American president Donald Trump has been tested positive for the coronavirus creates uncertainty on the trading floor. The opening indicators for the American stock exchanges dropped sharply after the news. Trump tweeted that he and his wife Melania have the coronavirus. They probably contracted the SARSv2 virus through close contact with...
Hennes & Mauritz (H&M) will close 250 shops permanently next year. This will be announced by the Swedish fashion chain on Thursday at the presentation of the quarterly figures. The fashion chain is struggling through the COVID crisis with a record build-up of stock. In total, H&M has more than 5000 stores worldwide. The Swedish company experienced a 16 percent decrease in sales in...
The World Trade Organization (WTO) has authorized the European Union to impose import duties on US products of USD 4 billion. That’s what Reuters news agency reports based on insider information. These charges would allow the EU to retaliate against state aid prohibited by the Americans to the airline group Boeing. These are charges in a long-standing dispute between the US and the EU over...