Month: February 2019

Tata Steel Q3 profit surges 53% YoY and Tata Motors shares plunge most in 26 years after record loss
9. 2. 2019 No Responses

Tata Steel Q3 profit surges 53% YoY and Tata Motors shares plunge most in 26 years after record loss

Tata Steel Q3 profit surges 53% YoY to Rs 1,751 crore, India business revenue up 10%. The revenue has risen 23% to Rs 41,219 crore vs. Rs 33,446.6 crore last year. EBITDA (earnings before interest, taxes, depreciation and amortization) rose 18% to...
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The results of the Finnish experiment with unconditional basic income
9. 2. 2019 No Responses

The results of the Finnish experiment with unconditional basic income

In Finland, at the beginning of 2017, they decided to carry out a long-term experiment with unconditional basic income. Approximately 2000 people received 560 euros each month, no-strings-attached and tax-free. An experiment with unconditional basic income wou...
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More than half of US coal mines have closed since 2008
8. 2. 2019 No Responses

More than half of US coal mines have closed since 2008

Declining coal demand in the US and rising demand for fracked natural gas and renewables have hit coal production and the number of active coal mines in the United States has dropped by more than half since peak coal production...
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The South African President has promised to save the Eskom and divide it into 3 entities
8. 2. 2019 No Responses

The South African President has promised to save the Eskom and divide it into 3 entities

South African power plants Eskom, which produce 95% of electricity in South Africa, are facing $ 30 billion in debt. South African President Cyril Ramaphos announced that Eskom will be divided into three entities. Utility holding Eskom consists of 3...
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German government and EU on collision course
7. 2. 2019 No Responses

German government and EU on collision course

Berlin fury over bid to crush big industry. Germany is on a collision course with the European Union as eurocrats reject a landmark merger between Franco-German rail firms Alstom and Siemens. Peter Altmaier, Berlin’s economy minister, has hit back at Brusse...
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Energy bills to rise by £117 for 15m households as price cap lifted
7. 2. 2019 No Responses

Energy bills to rise by £117 for 15m households as price cap lifted

Around 15m households will see their energy bills increase by £117 a year from April after the regulator Ofgem said it was lifting two price caps because of rising wholesale costs. Big energy suppliers are expected to increase their prices...
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ArcelorMittal profit up, launches negligible buyback
7. 2. 2019 No Responses

ArcelorMittal profit up, launches negligible buyback

ArcelorMittal (symbol: MT) said Thursday that its net profit rose in the Q4 and launched a $113.4 million share buyback. The Luxemburg-based steelmaker reported a quarterly net profit of $1.19 billion, up from $1.04 billion a year earlier, due in part...
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Siemens-Alstom Merger Killed By EU Competition Officials
6. 2. 2019 No Responses

Siemens-Alstom Merger Killed By EU Competition Officials

A merger that was supposed to create a “European champion” with the strength to counter the growing economic clout of China has been killed by the European Union’s top competition official, Margrethe Vestager. On Wednesday, Brussels blocked...
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Toyota warn on profits as car challenges mount
6. 2. 2019 No Responses

Toyota warn on profits as car challenges mount

Toyota, whose net profit last month fell 81%, cut its annual profit expectations for the 12 months to March by 19% to ¥1.87 Trillion. Toyota’s operating profit flatlined in the latest quarter as cost increases and lackluster sales offset a...
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Outrage as Once-Free Drug Now Costs $375,000
5. 2. 2019 No Responses

Outrage as Once-Free Drug Now Costs $375,000

Sen. Bernie Sanders (I-Vt.) is demanding to know why a pharmaceutical company has slapped a $375,000 list price on a drug that patients used to get for free. Sanders accused Patrick McEnany, president and CEO of Catalyst Pharmaceuticals Inc., of...
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Flotilla of tankers with Venezuelan oil stranded in Gulf of Mexico
5. 2. 2019 No Responses

Flotilla of tankers with Venezuelan oil stranded in Gulf of Mexico

The Suezmax sized oil tanker Karvounis lies at anchor stranded off the coast of Louisiana for lack of a bank letter of credit to discharge its cargo of Venezuelan heavy crude, south of Port Fourchon. A flotilla loaded with about...
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Ford sales rise about 7% in January, GM down 7%
4. 2. 2019 No Responses

Ford sales rise about 7% in January, GM down 7%

Ford and GM are no longer announcing monthly sales but Bloomberg sources say Ford was up about 7% and GM down about 7%. Earlier Volkswagen was reported down 6.7% so the consumer is looking a tad soft to start the...
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Ryanair slips into the red
4. 2. 2019 No Responses

Ryanair slips into the red

The low-cost carrier issues a dark outlook and warns that the risk of a no-deal Brexit remains “worryingly high”. Ryanair slipped to a quarterly loss of €19.6m (£17.2m) after competition pushed down air fares across Europe. The company has reite...
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As US Freezes, This Is Where Europeans Can’t Afford To Heat Their Homes
3. 2. 2019 No Responses

As US Freezes, This Is Where Europeans Can’t Afford To Heat Their Homes

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10-year Treasury yield logs largest weekly drop in a month
3. 2. 2019 No Responses

10-year Treasury yield logs largest weekly drop in a month

Bonds contend with a turbulent week. Treasury yields rose sharply Friday as a round of solid economic data from U.S. factories and households helped to pare back the bond-market’s midweek rally, after the Federal Reserve signaled a more dovish policy...
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