AuthorNicholas de Kramer

Nicholas de Krammer, а self-taught economic analytic with heave mathematical background. Math behind the economics (and economics behind math) is the strong side of the author. Contact him at [email protected]

Harley-Davidson is cruising in the sea of green numbers

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In the second quarter of 2021, in contrast to last year, Harley-Davidson wrote green figures again and did better than expected. This was apparent on Wednesday from the results of the American manufacturer of motorcycles. Over the second quarter, net income rose from $ 92.22 million negative to $ 206.3 million positive, or an adjusted $ 1.41 per share. The forecast was $ 1.21. Sales at Harley...

Euro and pound are out for summer

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On Wednesday, the euro was still below $ 1.18 in a market that is concerned and risk-averse. This is due to the increasing incidence of coronavirus infections and the fear that the economic recovery will be more difficult. That is also the reason for the expected rise in British coronavirus infections, but within the Bank of England the monetary sound has become somewhat milder and that too is...

US crude reserves grow for ninth week in a row

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Crude oil stocks in the United States increased last week, after nine weeks in a row. This was shown on Wednesday by figures from the US Energy Agency EIA. In the week ending 16 July crude oil stocks increased by 2.1 million barrels to 439.7 million barrels. Gasoline stocks fell by 0.1 million barrels to 236.4 million barrels. Stocks of fuel oil and diesel fell by 1.3 million barrels to 141.0...

ASML chip machine maker reports a strong quarter

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ASML has issued a very strong quarterly update. This was stated by ING analyst Marc Hesselink on Wednesday. “The results were as expected [ … ] gross margin was higher thanks to more software upgrades. This resulted in a 7 percent windfall for the EBIT”, says Hesselink. He also stressed the inflow of 8.3 billion euros in orders, a record. “All in all, the tone is very...

BMW and Volkswagen got fines, Daimler got critics

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The European Commission has fined BMW and Volkswagen Group a total of € 875 million for breaching European rules in their cooperation in developing technology to bring emissions from new diesel cars within the legal standard. This was reported by Brussels on Thursday morning. “The five car manufacturers Daimler, BMW, Volkswagen, Audi and Porsche had the technology to reduce harmful...

German production levels decreased in May

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Production in the German industry decreased in May compared to the previous month. This was shown on Wednesday by figures from Destatis, the German statistical office. Production, adjusted for seasonality and working days, was 0.3 percent lower in May than in April. Economists were counting on an increase of 0.5 percent. On an annual basis, however, industrial production was 17.3 percent higher...

Chinese Industry sentiment index still positive

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Chinese industry and services continued to slow down in June. This was shown on Wednesday by figures from the Chinese government. The industry index fell from 51.0 in May to 50.9 in June, but it was better than the expected 50.7. It is now the third month in a row that growth is slowing down. The index measuring the activity of the Chinese service sector reached 53.5 in June compared to 55.2 in...

Pershing Square Holdings agreed to buy 10 percent of UMG shares

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Pershing Square Holdings, through its subsidiary Tontine Holdings, has entered into an agreement with Vivendi to acquire a 10% stake in the activities of Universal Music Group of Vivendi. This was announced by Vivendi on Monday. The participation amounts to approximately EUR 3.5 billion. Previously, there seemed to be an amount of EUR 4.0 billion. The transaction is still subject to approval...

ArcelorMittal departs from Cleveland-Cliffs project

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ArcelorMittal sells its remaining 38.2 million shares in Cleveland-Cliffs and the proceeds are used to buy its own shares. This was announced by the steel giant on Friday morning. ArcelorMittal is setting up a new $ 750 million stock purchase program. The programme will start immediately. Earlier this year Mittal also sold shares in Cleveland-Cliffs. A total of $ 1.9 billion will be paid out to...

Chinese economic data: retail sales 12.4 percent up, industrial output 8.8 up

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Retail sales in China also increased sharply in May, but less than in previous months. This was shown on Wednesday by government figures. Sales increased 12.4 percent year-on-year in May. The first months of this year saw increases of more than 30 percent, after which in April the increase dropped to 17.7 percent. The annual increase in May is below the expectations of economists of 13.6 percent...

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