CategoryCorporate

Kenes Rakishev drove Petropavlovsk from the imminent collapse to the fully functional state

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Talk-Finance.co.uk reported that Petropavlovsk mining company was sold. Roman Trotsenko has sold it to another Russian businessman Konstantin Strukov. It was a hugely successful deal for Trotsenko, but the very foundation of the asset growth was laid by another Petropavlovsk ex-owner: Kenes Rakishev Kenes Rakishev always had an eye for good investment opportunities. His involvement may be viewed...

KLM stops all flights to China until 15 March

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KLM will not be flying to China until 15 March due to the new corona virus. The airline has announced that it will not fly to Beijing and Shanghai until 15 March. Due to the virus’s outbreak, KLM had temporarily suspended flights to China since early February. From 16 March, KLM will again fly to Beijing and Shanghai, so that there is a daily KLM connection between Amsterdam and the country...

CNOOC goes on partial quarantine

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The Chinese state oil and gas company CNOOC has stopped accepting supplies of liquefied natural gas (LNG) due to the outbreak of the new corona virus. Sources reported this to Bloomberg news agency. CNOOC would invoke force majeure. According to the insiders, CNOOC has informed LNG suppliers such as Shell and Total not to purchase LNG for the time being. The state-owned company is the largest...

Neways factory closed by authorities, hopes to reopen in a week

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Producer of electronic components Neways will close its production site in the Chinese city of Wuxi, near Shanghai, until at least 8 February due to the new corona virus. Neways says this is being ordered by the authorities. The company hopes to be able to restart the factory on 10 February. Neways does not yet know the exact impact of the temporary closure. The company now anticipates that...

Carlsberg beer managed to increase sales

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Carlsberg Breweries has sold slightly more beer last year. The specialty beers (craft) in particular experienced strong growth. In addition, more alcohol-free beer was also sold. Beer from the Carlsberg brand was less popular. The Danes also warned about the impact of the new corona virus on the results this year. Craft experienced volume growth of 16 percent on an annual basis. The number of...

Delta joins the no-flight-to-China club

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The American airlines Delta Air Lines and American Airlines have also stopped their flights to China for the time being. Concerns about the spread of the new corona virus in that country prompted companies to take this measure. Delta was the first American airline to follow the example of KLM, Air France and British Airways, among others. American Airlines announced the same decision moments...

SAP 2020 forecast has been revised as 2019 exceeds expectations

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The German software giant SAP has increased its profit expectation for 2020. The company did this after the publication of the figures for the closing quarter last year. SAP expects an operating profit of € 8.9 billion to € 9.3 billion this year. Previously, a maximum of 9.1 billion euros was expected. In the past quarter SAP managed to increase its operating profit by 12 percent to 2.8 billion...

Just Eat expects EBITDA at £ 200 million level in 2019

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The British meal delivery company Just Eat, which is being taken over by the Dutch company Takeaway.com, probably met the previously stated forecast for the underlying operating result for last year. The British announced this on the basis of provisional figures. Just Eat expects to be able to record an underlying operating result (EBITDA) of £ 200 million for 2019. That falls within the...

Large German bus order came to VDL

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Industrial group VDL has received a large bus order from public transport company KVB Cologne. The Germans ordered a total of 53 electric buses. Financial details were not disclosed. According to VDL, this is a follow-up job. A few years ago, KVB also ordered electric buses from the Dutch group, which made such vehicles for numerous transport companies in Europe. In the Netherlands alone, more...

Hong Kong market collapse causes ripples in luxury industries

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Beverage producer Rémy Cointreau continues to be bothered by the ongoing protests in Hong Kong. Because of the chaos, many tourists stay away from the autonomous Chinese city-state, while they are an important target group for the luxury drinks seller. Due to the poor performance in the current financial year, Rémy Cointreau threw his financial goals overboard. The beverage maker saw comparable...

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