JPMorgan Chase, the largest bank in the United States, posted more profit in the past quarter. The bank benefited, among other things, from the higher interest rates, which resulted in a substantial increase in interest income. However, the financial group had to save more money for bad loans. These loans […]
Business
The German concern Volkswagen (VW) sold fewer vehicles in 2022 for the third year in a row. Group sales totalled 8.26 million vehicles, the lowest level in eleven years, VW announced on Thursday. Sales of cars (with brands such as Volkswagen, Audi, Skoda, Seat and Porsche), buses and trucks (MAN, […]
The American technology group Apple has hired staff for its first stores in India. This was informed by the British business newspaper Financial Times. Apple wants to open so-called Flagship stores in major Indian cities such as Mumbai and New Delhi. In addition to store staff, Apple is also looking […]
The CEO of Stellantis, the car group behind Opel, Peugeot and Fiat, is afraid that Europeans will buy Chinese cars en masse in the future. At the Consumer Electronics Show (CES) in Las Vegas, he called on the European Union to better protect the European car industry against emerging competition […]
Global food prices fell for a ninth consecutive month in December, the United Nations Agriculture Organization (FAO) reported. The FAO’s food price index, which tracks five major commodities, fell 1.9 percent in December from a month earlier. Due to the decline, global food prices are 1 percent below the level […]
Oil prices have risen again in the past year. Despite the large fluctuations and unrest in the oil market due to the war in Ukraine, the price increase was much lower than in 2021. Last year, the demand for fuel already increased considerably due to the economic recovery from the […]
The British economy contracted more than expected in the third quarter by 0.3 percent. This is probably also the beginning of a prolonged recession. Earlier, the British statistics office assumed a contraction of 0.2 percent for the past three-month period. The economy in Great Britain was mainly depressed by a […]
Ten American gamers want to block the planned takeover of games studio Activision Blizzard by tech group Microsoft. They, therefore, went to court in California. The American competition watchdog FTC had also started a case to prevent the merger. The ten gamers claim in their complaint that the acquisition of […]
The European Commission is satisfied with several commitments from the online shopping platform Amazon to better comply with European competition rules. The deal means Amazon escapes a potential billion-dollar fine. The American company promises not to use other sellers’ data to improve its brands and stop favouring some sellers. Amazon’s […]
Facebook is abusing its power to market its advertising platform Marketplace, concludes the European Commission. If that provisional conclusion remains valid, billions of fines threaten Facebook. Facebook automatically gives its billions of users access to Marketplace, where they can advertise stuff or place classified ads. Whether they are waiting for […]
