Daily Management Review
Business & Finance

U.S. watchdog demand that cryptocurrency platforms stop misleading consumers

In a statement, the U.S. Federal Deposit Insurance Corporation (FDIC) urged the five biggest cryptocurrency platforms to avoid deceiving their users and all consumers. The platform's inclusion of the corporation's acronym in the product names was the source of the company's resentment. The FDIC...

Geely's profit loses 35% due to lockdowns

In the first half of the year, the net profit of Chinese automaker Geely decreased by 35% to 1.55 billion yuan ($228 million). As a result, Geely's profit fell far short of forecasts of analysts surveyed by Bloomberg, who expected a profit of 2.77 billion yuan. In this instance, the company's...

Shell to close oil pipeline between the Gulf of Mexico and the US

According to Reuters, the Anglo-Dutch Shell announced plans to shut down a pipeline in the Gulf of Mexico for two weeks in order to carry oil to American refineries. The company announced in a statement that "the Odyssey and Delta pipelines would be closed for scheduled repair in early to...

Volkswagen And Mahindra & Mahindra Expand Their Collaboration On Electric Car Components

Volkswagen AG and Mahindra & Mahindra signed a term contract on Monday under which the German automaker will sell electric components to its Indian counterpart.   According to the firms, the agreement covers components of Volkswagen's open platform for electric cars (EVs), known as MEB,...

Chainalysis Says Losses Due To Cryptocurrency Breaches Rose By 60% Between January And July, Totaling $1.9 Billion

Losses from cryptocurrency thefts increased by nearly 60 per cent in the first seven months of the year to $1.9 billion, fueled by a surge in cash stolen from decentralised finance (DeFi) protocols, according to a blog post published on Tuesday by blockchain analysis firm Chainalysis.  ...

Saudi Aramco boosts profits to record $87.9B

The largest oil producer in the world, Saudi Aramco, reported an 86% increase in net profit in the first half of the year compared to the same time in 2021. Overall, the company’s net profit hit record $87.9B. Compared to $25.5 billion and $47.2 billion in the same periods of 2021, respectively,...

Coca-Cola sales grow in first half 2022

According to a statement from the company, sales at Coca-Cola Hellenic Bottling Company (Coca-Cola HBC) increased 18.1% year over year in the first half of 2022 to 1.33 billion cases, or nearly 7.6 billion liters. Sales in emerging markets increased 20% to 794.1 million cases (about 4.5 billion...

Honda Increases Its Yearly Profit Prediction After Exceeding Its Quarterly Target

Honda Motor Co upped its full-year operating profit forecast on Wednesday due to a cheaper yen, but warned against over-optimism, citing a continued chip shortage and concerns about an economic slowdown.   Honda's mixed reaction reflected a commonly held perception among Japanese automakers...

German retail giant Metro reports net loss for first nine months

Compared to profit before taxes, Metro's net loss for the first nine months was €379 million. According to the company's financial statement, Metro AG, a major German retailer, recorded a net loss of €379 million in the first three quarters of fiscal 2021–2022 as opposed to a profit of €31 million...

Foxconn Is Beginning To Feel The Sting Of Decreasing Smartphone Sales

After reporting revenues that above expectations, Apple iPhone assembler Foxconn issued a cautious prediction for the current quarter, citing decreasing smartphone demand following a pandemic-fueled surge.   The views from the Taiwanese company, the world's largest contract electronics...
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