CategoryCorporate

Rosneft got out of the Druzhba crisis

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The Russian oil company Rosneft has seen a substantial increase in profit in the third quarter. With this, the company recovered from the problems it encountered due to the so-called Druzhba crisis. Rosneft had problems with an oil pipeline to Europe earlier this year. Because oil was contaminated from Russia, parts of the Druzhba pipeline were temporarily closed. Rosneft was therefore forced to...

BMW sold 613,000 cars YTD

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BMW has boosted its profit last quarter. The German automaker owes this, among other things, to increased sales of models with high margins. BMW also reaped the benefits of previously implemented cost savings. The operating profit increased by almost a third to 2.3 billion euros and the net result increased by more than a tenth to 1.5 billion euros. Another factor is that the results in the...

Telefónica posted revenue growth

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Telefónica, Spain, grew revenue in the third quarter, despite fierce competition from rivals with lower telephone service costs. The group managed to attract more customers in its home market for premium products and fiber optics. Turnover increased by 3.4 percent in the measurement period to 11.9 billion euros. That is slightly lower than the experts in general had foreseen. Growth in key...

HelloFresh Q3 results indicating the revenue growth

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Delivery of meal boxes HelloFresh saw the revenue increase in the third quarter. The United States boosted that growth, according to a trade report from the company. HelloFresh saw the revenue from its American branch increase from 170 million euros to 247 million euros. The International division recorded revenue of 194 million euros, compared to 132 million euros a year earlier. The margins for...

Truck builder Traton foresees difficult times

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Volkswagen subsidiary Traton is preparing for difficult market conditions. The truck division recently brought to the market expects to meet its financial targets for this year. But the prospects for next year are less bright, warns CEO Andreas Renschler. Traton, with brands such as MAN and Scania, sold 179,100 vehicles in the first nine months of this year. This makes sales 8 percent ahead of...

Saudi Aramco confirms that biggest IPO ever is on track

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Saudi Aramco goes to the stock exchange in Saudi Arabia. The state oil company confirmed this on Sunday after the news that the Saudi stock market watchdog (CMA) approved the intended IPO. It is “an important milestone in the history of the company,” said Yasir al-Rumayyan, Chairman of the Board. The value of the shares will be determined in the coming weeks, before investors can...

Lower profit for Spanish BBVA

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The Spanish bank BBVA closed the third quarter with a lower profit than a year earlier. This is mainly because the financial services provider sold a Chilean business unit a year ago. If the divestment is not included, the net result will increase. Profit for the past quarter amounted to 1.2 billion euros, compared to 1.8 billion euros a year earlier. Cleaned for the divestment in Chile, there...

Birds and Pigs carried less profits

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Video game maker Rovio Entertainment recorded a lower profit in the past quarter. The Finnish company behind the Angry Birds games had to invest a lot more money to lure players. For that reason, Rovio had already adjusted its forecasts for the entire year downwards last month. Rovio spent more than half more on attracting new players for its games last quarter. The company made those extra...

Tiffany is likely to reject LVMH takeover bid

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The American chain Tiffany will reject the takeover bid of the French luxury goods producer Louis Vuitton Moët Hennessy (LVMH). That is what insiders say. The proposal is said to be worth $ 14.5 billion. Tiffany advisers are currently reviewing LVMH’s proposal, but sources say it would undervalue the company. Various shareholders have already described the price as too low. LVMH has been...

Green light for agreement to end GM strike

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The end of the billions-worth strikes at the American automaker General Motors (GM) seems to be near. Trade union members have agreed to the negotiating result of trade union United Auto Workers (UAW) with GM that was reached last week, according to the automotive news site Auto News. The strikes at GM, the first in twelve years at the group, have been going on for over a month and have cost more...

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