CategoryCorporate

Volkswagen will restart the Wolfsburg factory

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Automaker Volkswagen will restart its factories in hometown Wolfsburg this week. As a result, approximately 8,000 employees of the company can return to work. The Wolfsburg plant will reach 10 to 15 percent of its maximum production this week. 40 percent should be reached by the end of next week. Last week VW also opened factories in Zwickau, where the electric ID.3 is off the production line...

Lufthansa wants Brussels Airlines takeover to be subsidized

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Lufthansa

The German aviation giant Lufthansa hopes to receive support from the Belgian government to prevent the bankruptcy of its Belgian subsidiary Brussels Airlines. According to the Belgian news channel LN24, the Germans are aiming for a loan of 290 million euros. The Belgian Minister of Finance Alexander de Croo is said to be discussing an emergency package with the airline company. The Belgian...

Pharmaceutical companies thrive on medical emergency

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Pharmaceutical Sanofi has increased its turnover in the first three months. The French company also benefited from European consumers who took diabetes medicines for the corona lockdown. In the United States, sales of non-prescription drugs rose sharply. Sales of the drug Dupixent also performed well. Sanofi wants to introduce relatively new drugs, which can be used for asthma and skin...

Volvo truck sales fell 15 percent y/y

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The Swedish truck and bus manufacturer Volvo Group was affected in the first quarter by the corona crisis in its sales and production. This put pressure on the results. According to Volvo, there was a strong impact from mid-March due to supply chain disruptions and production shutdowns at most plants due to government measures to address the outbreak. Sales fell by 15 percent to SEK 91.4 billion...

Randstad’s turnover fell 33 percent y/y

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Employment giant Randstad achieved nearly a 33 lower turnover in the second half of March than a year earlier. Because lockdown measures were in place in Europe and the United States, important markets for the group, the agency work allowances plummeted. CEO Jacques van den Broek expects even more difficult circumstances in the current second quarter, but much is still unclear. Sales in the first...

Past quarter was kind to IBM, but annual result are uncertain

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The American technology group IBM continued to grow with its cloud division in the past quarter. Under pressure from the corona crisis, however, results across the board declined. The company has also withdrawn its financial forecast for the whole of 2020 due to the great uncertainty in the market. International Business Machines, as IBM is called in full, saw cloud revenue grow 19 percent to $ 5...

KLM ‘s Pieter Elbers regrets the untimely salary increase request

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KLM is refraining from the intended increase in the variable salary of CEO Pieter Elbers. The agenda at the upcoming shareholders ‘meeting was that this long-term remuneration would increase from 75 percent to a maximum of 100 percent of Elbers’ base salary of 525,000. However, due to the turmoil caused by the proposal, the item has now been dropped from the agenda, KLM reported. The...

ASML gets a good forecast from BofA

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The impact of the corona pandemic on the profit of chip machine manufacturer ASML has already been largely discounted. At the same time, the company may rise in the second half of the year to improve demand and investor sentiment. Bank of America analysts are therefore increasing their advice of the stock from neutral to buy. The earnings per share for ASML in 2020 that analysts expect in average...

China weight on merge of two largest security brokers

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China is investigating the feasibility of a merger between the two largest securities brokers in the country, Citic Securities and CSC Financial. Bloomberg reports it based on the authority of insiders. If the merger continues, a stock market giant worth $ 67 billion will emerge. The Chinese government, which is opening up its financial markets further, wants to create a company with the...

Two Renault factories to be opened after quarantine

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French car maker Renault plans to reopen two factories in Spain. That reported the newspaper El Norte de Castilla. Those factories were closed earlier because of the corona crisis. These are the factories in Seville and Valladolid. The idea is to start with one service, said the chairman of Renault in Spain. According to him, those factories are mainly focused on the export of cars to outside...

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