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Chinese automaker Geely in 2018 increased its net profit by 18%

Chinese car manufacturer Geely Automobile Holdings at the end of 2018, reported net profit growth to a record level of 12 billion 550 million yuan. A year earlier, the profit was 10 billion 630 million yuan. According to experts, the profit ...
22.03.2019

Citigroup will sell Venezuelan gold in compensation of outstanding loan

Citibank of the international financial conglomerate Citigroup announced its intention to sell part of the Venezuelan gold held as collateral for a loan of $1,600 million, Reuters writes, citing informed sources. On March 11, Venezuela was ...
22.03.2019

CNOOC doubled its net profit in 2018

China's third largest national oil and gas company, CNOOC, reported that in 2018 its net profit was 52 billion 690 million yuan, which is 2.1 times higher than in 2017. The growth rate contributed to a significant increase in gas production, ...
22.03.2019

Production activity in Philadelphia recovered in March after falling in February

The Federal Reserve Bank of Philadelphia reported an increase in the index of manufacturing activity in the region to 13.7 points in March from 4.1 points in the previous month. Economists had not predicted such a significant increase in the ...
22.03.2019

The Bank of England did not change the value of the base rate and stated that its further change would depend on the Brexit process

Following the results of the meeting in March, the Bank of England left the base interest rate unchanged at the level of 0.75% and stated that in the future it would consider changing the rates depending on the Brexit process. Uncertainty about ...
22.03.2019

Georgia's GDP grew by 4.7% in 2018

The National Statistics Office of Georgia published updated data, according to which the country's GDP grew by 4.7% in 2018, slowing down compared with a 4.8% rise in 2017. The nominal GDP of 41 billion 77.5 million lari exceeded its volume ...
22.03.2019

UK retail sales rose 0.4% in February

In February, retail sales in the UK increased by 0.4% compared to January, the data of the ONS showed. Compared to a 0.9% rise in the previous month, retail sales slowed growth in February. The index coincided with the estimates of economists. ...
22.03.2019

Tencent's net profit declined sharply in the fourth quarter

The world's largest Chinese investment Internet company, Tencent Holdings, at the end of the fourth quarter of last year, reported a decrease in net profit by 32% to 14 billion 230 million yuan. Experts had expected a decline to 17 billion ...
22.03.2019

Norges Bank raised key rate to 1%

Following the results of the meeting in March, Norges Bank decided to raise the key interest rate from 0.75% to 1% per annum. This is the second rate increase since September last year. Until September, there have been no changes for seven ...
22.03.2019

China Mobile increased net profit by 3.1% in 2018

The world largest in terms of the number of subscribers communications service provider, China Mobile, following the results of 2018, reported the net profit growth of 3.1% to 117 billion 800 million yuan. The one-time profit from the IPO of ...
22.03.2019

BMW warned of a possible reduction in pre-tax profit by more than 10% in 2019

German automaker BMW said that in the current year, pre-tax profits could fall by more than 10% amid the transformation of the automotive industry. Compared to a decline of 7.8% in 2018, the rate of decline in this indicator may accelerate ...
21.03.2019

Japanese government has worsened the assessment of the state of the economy for the first time in 3 years

The Cabinet of Japan in the March review pointed to the gradual recovery of the country's economy, noting, however, signs of weakness in production and exports. Fears caused by the upcoming consumption tax in October and the consequences of ...
21.03.2019

The head of UBS made a gloomy forecast of financial results for the first quarter

Sergio Ermotti, CEO of UBS, a Swiss bank, speaking at a conference for investors in London, called the first quarter of 2019 one of the most difficult for the bank in recent years. He expects weak financial results for the quarter against the ...
21.03.2019

Inflation in the UK was 1.9% in February

In February, UK inflation accelerated to 1.9% from 1.8% in January, the Office for National Statistics reported. Experts predicted that consumer prices in February would maintain an annual growth of 1.8%. In monthly terms, consumer prices increased ...
21.03.2019

French fashion house Hermes in 2018 increased its net profit by 16%

French fashion house Hermes International reported on the results of 2018. During the earnings period, its net profit rose by 16% to 1 billion 410 million euros, while economists had predicted it at the level of 1 billion 370 million euros. ...
21.03.2019

The construction of a coal mine in the UK was approved for the first time in 30 years

The construction of a deep coal mine was unanimously approved by the council of the British county of Cumbria, the Financial Times reported. The decision to build a coal mine was made in the UK for the first time in more than 30 years. The ...
21.03.2019

FedEx fiscal performance was worse than expected

FedEx Express Delivery Corporation reported a net profit decline in the quarter that ended in late February to $739 million from $2 billion 70 million in the same quarter of the previous fiscal year. A year earlier, net income included a one-time ...
21.03.2019

Walt Disney completed the takeover of 21st Century Fox

Walt Disney, one of the world largest entertainment industry, announced the completion of the acquisition of the 21st Century Fox assets for $71 billion. The agreement on the purchase of these assets, concluded in 2017, estimated the transaction ...
21.03.2019

Insta360 plans to hold an IPO in 2020

J. K. Liu, CEO of Chinese camera manufacturer Insta360, said in an interview with CNBC about plans to hold an initial public offering of shares in 2020 with the goal of attracting investment to introduce innovations in camera production. It ...
21.03.2019

Fitch lowered global growth forecast for 2019-2020

According to the new forecast of the international rating agency Fitch, in 2019 global GDP will grow by 2.8%, and in 2020 its growth will be at the level of 3.1%. In December, agency experts expected the global economy to grow by 3.1% in 2019, ...
21.03.2019
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