Daily Management Review
Business & Finance

Musk's Twitter Antics Have Raised Concerns About Distraction, Investors Sell Tesla Stocks

Tesla investors and analysts are concerned that Elon Musk's offer to buy Twitter may cause the electric automaker to suffer as the CEO is distracted by his takeover bid and likely stock sales to fund the acquisition.   On Thursday, the billionaire entrepreneur, who also runs rocket business...

Citigroup's Q1 profit drops by 46%

Citigroup's net income fell 46% in the first quarter, including due to Russia's invasion to Ukraine. The company set aside an extra $1.9 billion in case risks in Russia increase and the conflict has a greater impact on the economic situation. Citigroup's first-quarter net income fell 46 percent...

Toyota Wants To Revive The 67-Year-Old Crown With An SUV Type: Reports

Toyota Motor Corp planned to release a sport utility vehicle version of its Crown sedan in Japan, China, and North America, reviving a car that has been a showpiece of Japan's market for nearly seven decades, according ot reports quoting sources.   The SUV, which will be available in hybrid,...

French Deezer sets for IPO

French music streaming service Deezer intends to become a public company. French music streaming service Deezer is close to becoming a public company, The Wall Street Journal reported, citing sources. According to the newspaper, Deezer is negotiating a merger with I2PO, an already public company...

New Team Formed By EU To Begin To Jointly Purchasing Non-Russian Gas

As part of its efforts to reduce dependency on Russian fuels and develop a buffer against supply shocks, the European Union has launched a platform for European Union countries to buy gas and liquefied natural gas together.   The invasion of Ukraine by Russia, Europe's biggest gas supplier,...

BMW lowers car sales in Q1

German carmaker Bayerische Motoren Werke AG (BMW) in the first quarter of 2022 reduced car sales by 6.2% year on year to 596.907 thousand cars, while electric car sales doubled, according to the company. "After a strong start to the year in a highly volatile environment, the combined impact of the...

Russian Gas Exports To Europe Are Decreasing In Response To Customer Demands

On Thursday morning, Russian gas supply to Europe via the Yamal-Europe pipeline shifted course, flowing from Germany to Poland, while supplies via Ukraine were also reduced, all in response to customer requests.   After flowing westward overnight, gas flows turned to an eastward direction...

Fitch affirms Hyundai and Kia's ratings at BBB+

Fitch affirmed Hyundai Motor and Kia's long-term ratings at 'BBB+' with a stable outlook. Fitch Ratings affirmed the long-term issuer default ratings (IDR) of South Korean automakers Hyundai Motor and Kia at "BBB+" with a stable outlook, the agency said in a press release. "The rating affirmation...

Tesla delivers record number of cars in "exceptionally challenging" first quarter

American electric car maker Tesla delivered a record 310,048 cars in the first quarter of 2022, Bloomberg wrote with reference to the company's report. The automaker surpassed analysts' expectations that Tesla would ship 309,158 vehicles, the agency said. Meanwhile, the company’s CEO Elon Musk...

Automobile Sales In The United States Likely To Decline As Less Affluent Purchasers Opt Out

The ongoing global shortage of semiconductor chips and the Russian invasion of Ukraine have reduced inventories of car companies in the United States during the first quarter of the current year. This has pushed up prices of new vehicles in the country which has resulted in the less affluent...
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