CategoryCorporate

Atrium fund struggles with strict rules and shop closures

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Real estate fund Atrium is struggling with stricter rules in Poland and Russia to curb the spread of the new corona virus, which means that shops must keep their doors closed. In Poland, Atrium is obliged to cut rents, while in Russia the store closings will take longer. The Polish government has adopted legislation that allows companies to temporarily impose lower rents on retail units in...

Schiphol cancels 2020 profit forecast

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Schiphol Airport company throws the expectations it expressed earlier for 2020 in the trash because of the corona crisis. The company is not venturing into new predictions, the situation is now too uncertain. At the presentation of the annual figures for 2019 in mid-February, Schiphol still assumed limited passenger growth in 2020. Net profit, which amounted to 355 million euros last year, was...

Timur Kulibayev, the man who bought his own oil company

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Timur Kulibayev is one of the richest businessmen of the World. His wealth is dispersed in oil and gas exploration, banking, finance and development projects. Being a son-in-law of the long-time Kazakhstan president Nazarbayev he accumulated unseen wealth and influence. Officially, Nursultan Nazarbaev, has three daughters and no sons. In the Central Asian reality it means that sons-in-law had to...

Sharp fills patent infringement case against Tesla

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Sharp Japanese technology group has filed a patent case against the electric car manufacturer Tesla. According to the company, the American Tesla uses certain communication technology that is subject to Sharp’s patent rights. The case was brought before a Tokyo court. Sharp states that Tesla imports and sells cars in Japan with communications equipment that infringes three patents. The...

Air France – KLM first in line for emergency credit

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Air France-KLM and aircraft manufacturer Airbus are at the front of the queue with the French government to receive special emergency credits for getting through the corona crisis. Airbus is also said to have approached the German government for help. Bloomberg news agency reports this on the basis of insiders. Aviation is one of the hardest hit sectors due to the outbreak of the new corona virus...

Low economic activity will damage container ship transport industry

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German container transport company Hapag-Lloyd thinks that this year’s growth will be affected by the impact of the corona pandemic. The shipping company expects demand for container transport to fall due to lower economic activity. For the ultimate damage, the container giant still has a big battle to win. The beginning of 2020 went “reasonably”, according to Hapag-Lloyd. The...

BMW expects annual profits to drop ‘significantly’

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German auto group BMW expects its pre-tax profit to drop significantly this year as global sales are hit by the corona virus outbreak. The Munich company announced this on Wednesday. According to BMW, the virus will cause declining sales in all major markets this year and deliveries to customers will be considerably weaker than last year. In 2019, there was still a record of more than 2.5 million...

KLM will ground all Boeing 747s immediately

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Due to the impact of the new corona virus, KLM airline company keeps all Boeing 747 aircraft grounded. The sister jets Air France no longer fly the superjumbos of aircraft maker Airbus, the A380. The measures are needed to mitigate the financial impact of the virus. The large aircrafts are usually expensive to operate. Parent company Air France-KLM expects in the coming months a capacity that is...

RTL expects the bright future for its Videoland streaming service

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RTL Group, the parent company of a number of European TV channels, expects to benefit from growth in its streaming services such as Videoland in the Netherlands and TV Now in Germany in the coming years. By 2025, the media group plans to more than triple the number of subscriptions in those two markets to between 5 and 7 million. RTL gained confidence in its streaming services, partly due to the...

Heineken invests in its Brazilian beer factory

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Heineken has invested millions in its Brazilian beer factory. The brewer puts out 865 million real, equivalent to 161 million euros, in the course of this and the coming year. The factory named Ponta Grossa is the third largest factory in Parana. According to experts, Brazil is an even more important market for Heineken’s turnover than Europe or the United States. The investment of Heineken...

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