UBS recorded a lower profit in the third quarter. The Swiss bank feels low interest rates and had to look for restructuring. At the same time, the assets that the financial services provider manages on behalf of wealthy clients rose to a record high of 2.5 trillion dollars. The net result amounted to almost $ 1.1 billion, a decrease of 16 percent compared to the same period a year earlier...
The German payment processor Wirecard has instructed accountancy firm KPMG to conduct independent investigations into allegations of accounting fraud. Last week, Financial Times put documents of the company online which, according to the business newspaper, would show that Wirecard has fraudulently jacked up profit and revenue figures. Wirecard already firmly denied accounting fraud last week...
A crew and passengers who are constantly screened, scientifically justified tricks to combat jet lag and enough kerosene to reach the final destination: welcome aboard the first non-stop flight from New York to Sydney. The Australian airline Qantas made the journey, 16,200 kilometers in 19 hours and 16 minutes, to see if such flights are feasible, and how the journey can be illuminated for...
Aircraft manufacturer crashed hard on the stock exchange in New York on Friday, after a message that employees may have misled supervisors by withholding certain information. Investors on Wall Street processed further disappointing figures about the Chinese economy and the quarterly results of Coca-Cola, among others. Boeing lost nearly 7 percent in market value. A pilot would have had technical...
The other European stock exchanges seem to be starting Friday with losses. Investors are waiting for the British House of Commons to examine the Brexit agreement of Prime Minister Boris Johnson and the European Union on Saturday. In addition, the mood is being depressed by a disappointing growth in the Chinese economy. Johnson is very confident that British parliamentarians will support the...
Chip manufacturer Taiwan Semiconductor Manufacturing Company (TSMC) achieved more profit and revenue in the third quarter, helped by strong chip sales for the latest iPhones. TSMC is one of the world’s largest makers of smartphone chips for companies such as Apple, Samsung and Huawei. The group is also an important customer of the Dutch chip machine manufacturer ASML. The turnover amounted...
French beverage producer Pernod Ricard is suffering from declining demand in Asia. Sales growth slowed down considerably compared to a year earlier, but this was already taken into account. Turnover increased by 4 percent in the first quarter of the broken financial year, helped in part by exchange rate effects, to just under 2.5 billion euros. Growth was 1.3 percent on a comparable basis. A year...
Food producer Nestlé increased its turnover on its own in the first nine months of the year compared to a year earlier. The counterpart of Unilever did good business and benefited from a collaboration with Starbucks, among other things. In addition, it announced that it would reward its shareholders with a share buy-back program of 20 billion Swiss francs, equivalent to 18.2 billion euros. In the...
The Swiss pharmaceutical company Roche has tightened its sales forecast for the entire year. The company did so after strong sales of newer medicines in the third quarter. The outlook for the pipeline of new products is also positive, the company said. Roche is now counting on revenue growth of around 9 percent. Previously a bandwidth of approximately 5 to 9 percent was mentioned. The result is...
The provider of shared workspaces WeWork would rather opt for a billion-dollar credit than a rescue plan where SoftBank takes over control. The Bloomberg news agency reports this based on insiders. Now that the IPO of parent company The We Company is canceled, the company urgently needs other forms of financing. The loss-making company might otherwise be out of money next month. The borrowing...