CategoryCorporate

Volkswagen is concerned about chip shortage, hasn’t built at least 100,000 cars because of it

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Volkswagen remains concerned about the shortage of semiconductors. This is shown in an interview by Handelsblatt with the head of purchasing of the car manufacturer. Given that the expansion of capacity by the chip manufacturers can take up to two years, Volkswagen expects a shortage of 10 percent of semiconductors in the long term. Volkswagen believes that the current low point has been reached...

Google settles the competition authority case in France

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Google has reached a settlement of 220 million euros with the French watchdog in France. The tech company pays the settlement after the authority filed a complaint for abuse of power in the advertising market. The French Competition Authority says that Google is abusing its monopoly position in the sale of online ads. Google’s tool to help websites and apps sell advertising would have given...

Kenes Rakishev sent an IPO application for Battery Metals Technologies

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One of the key directions of Kenes Rakishev activity is environmentally responsible mining. He pioneered leaching as a non-destructive and low-energy consuming ways to mine metals underground, without the need to massively disrupt the surface of Earth. Now Kenes Rakishev comes with a bold project: he plans to develop nickel and cobalt mining in the Eastern Kazakhstan. The initial test results are...

Microchips’ shortage is a result of panic ordering – Elon Musk

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Elon Musk from Tesla sees the current disruptions in the supply chain as the biggest challenge. This is what the entrepreneur said on Twitter. In particular, a shortage of so-called microcontroller chips called Musk a major challenge. I’ve never seen anything like it. The fear of shortages causes companies to order much more than they need, as we have seen in supermarkets with toilet paper...

ArcelorMittal target set at 32 euro

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On Monday, Kepler Cheuvreux raised the target price for ArcelorMittal from 30.00 to 32.00 euro with an unchanged purchase recommendation. Kepler’s analysts pointed out that ArcerorMittal’s EBITDA in the first quarter was the best result in a decade. The steel giant benefited from favourable market developments. Kepler expects favourable trends to continue in the second and third...

Climate change activists find their way to infiltrate the boards of big oil companies

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The stock exchanges in New York went out on Wednesday with small profits. Oil and gas groups ExxonMobil and Chevron were able to count on above average interest after activist investors with climate demands stirred up at the annual meetings. Investors did not seem impressed, as was the case with Shell earlier in Amsterdam. ExxonMobil closed the session with a profit of 1.2 percent. An activist...

Mere chain begins the British expansion

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‘Russian Lidl supermarket chain’ opens its doors in the UK and claims to be the cheapest A supermarket chain nicknamed “Russian Lidl” is opening its first stores in the UK this summer and claims to be cheaper than all other stores. Svetofor, which was founded in Siberia in 2009 but is on the market in Europe under the name Mere, says it is up to 30% cheaper than other...

BMW report shows profits rising

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BMW saw a sharp increase in profits in the first quarter. The German automaker announced this on Friday. Net profit increased from 554 million euros last year to 2.8 billion euros last quarter, thanks to higher deliveries and better pricing. Revenue rose from 23.3 to 26.8 billion euros. BMW confirmed the previously announced EBIT of 2.2 billion euros in the automotive sector, with a corresponding...

Half a million users pre-ordered Starlink internet

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SpaceX

More than half a million people have pre-ordered Starlink, the internet offered via satellites of SpaceX, CNBC reports Tuesday. Elon Musk does not expect problems due to the surge of subscribers, he writes on Twitter. According to Musk, the challenge only increases when millions of people sign up. “The only limitation we have is the high population density in urban areas,” he writes...

Dutch Green Business Group suffered a loss in 2020, yet it is smaller than expected

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DGB suffered a loss in 2020, although the loss was much smaller than in 2019. This was demonstrated by the annual figures presented this weekend. On a turnover of 1.7 million euros, a profit after tax was recorded of 308,000 euros. Taking into account the share of the result of the participation, DGB suffered a net loss of 12,000 euros. A year earlier, DGB suffered a loss of nearly 3.4 million...

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