Daily Management Review
Business & Finance

Toyota's net profit up 27% year on year

Japanese carmaker Toyota Motor Corp.'s net profit for fiscal 2021-2022 (ended March 31) rose 27% to 2.85 trillion yen ($21.8 billion), according to its financial statements. Diluted earnings per share reached 205.23 yen ($1.5) against 158.93 yen ($1.2) last fiscal year. Operating profit rose 36.3%...

French Auto Giant Renault Predicts Double-Digit Margin For Its Mobilize Brand By 2027

French auto giant Renault announced on Tuesday that its new Mobilize brand, which is focused on new mobility and data solutions, will seek a double-digit profit by 2030, representing 20% of Renault's overall company turnover.   Mobilize will concentrate on services such as ride hailing,...

US Big Tech lose over $1T in market cap after Fed's decision

More than $1 trillion in market capitalization was lost by U.S. tech giants in trading after the Federal Reserve raised interest rates. U.S. tech giants have lost over $1 trillion in market value over the past three trading days - May 5, 6 and 9. The sell-off began after the Federal Reserve decided...

Volvo suspends plant operations in southern Sweden

Swedish car manufacturer Volvo Cars is suspending production at its plant in Torslanda in southern Sweden due to problems with the supply of semiconductors, the Göteborgs Posten newspaper reported. It is noted that the halt will last from Tuesday to Friday because of problems with the supply of...

EU Will Give Renewable Energy Projects Clearance In One Year

The European Union executive aims to accelerate the bloc's green transformation and reduce its dependency on Russian resources by permitting some renewable energy projects to acquire permits within a year, said reports quoting information from a draft documents.   Brussels will...

Over 80 Companies, Including China's JD.Com, Added To The SEC's List Of Companies Facing Delisting

During a long-running auditing stalemate between the US and China, the US Securities and Exchange Commission (SEC) has added more than 80 companies to a list of entities facing probable expulsion from American exchanges, including China's JD.com.   The SEC enlarged a...

Shareholders sue Netflix

Netflix shareholders filed a class action lawsuit against the company on Wednesday, accusing its management of providing false information about the reality, Axios writes. According to it, the lawsuit, filed in a San Francisco, California court, alleges that Netflix "concealed slower subscriber...

Analysts note slump in Chinese service sector activity

According to a private indicator, activity in China's services industry plummeted to its lowest level in April since the epidemic began in early February 2020, as rising steps to combat the virus put severe strain on consumer demand. Caixin Media Co. and research firm Markit computed China's supply...

UK’s Boohoo Predicts A Tough Year Ahead As Its Profits Dropping 28%

Boohoo, a British online clothes retailer, announced a 28 per cent drop in yearly core earnings, owing to high freight and logistics cost inflation, and warned that pandemic-related external variables will continue to have an impact this year.   The company reported on Wednesday that...

Volkswagen's profit grows in Q1

The after-tax profit of Europe's largest carmaker, the Volkswagen Group, doubled to €6.724 billion in the first quarter compared with the same period last year, the company said in its financial statements. Operating profit for the reporting period was €8.453 billion, up 1.8 times year on year....
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