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Wednesday 22.05.2019 | Name days: Emīlija

China's government doubles investments in major Japanese companies

In 2010, China's government-wealth investors doubled their investments placed in major Japanese companies. The combined stakes now make up 19.4 billion dollars.

GM posts 10-year-high profit – 4.7 billion dollars

Almost two years have passed since General Motors (GM) barely avoided bankruptcy, and now the company is announcing its last fiscal year’s profit, which is the biggest in the decade, linked to GM’s success in the car market, as well as to new car models the company has launched.

Boeing acquires 35 billion dollars worth Air Force agreement

The state of Washington and Kansas is celebrating the approval of Boeing’s contract, whose value amounts to 35 billion US dollars. The aim of this agreement is to build approximately 200 aerial refuelling tankers.

Porsche shares fall due to postponed merger with VW

Sports car manufacturing company Porsche shares value at Frankfurt Stock Exchange dropped 10%, after it became known the merger with the major German cooperation Volkswagen is postponed or even might not take place at all.

Toyota withdraws 2.17 million cars in US

The carmaker Toyota Motors has recalled 2.17 million vehicles in the US, based on the accelerator pedal defect due to which it can get stuck in driver's side carpeting.

Libya unrest boosts Brent crude above 113 dollars

Protests in Libya threatening to contaminate also other oil producing countries of the region have boosted Brent crude above 113 US dollars, which is 29 months high.

Bank of America credit-card subsidiary writes off 20 billion dollars

The largest bank in the US the Bank of America's (BoA) credit-card subsidiary FIA Card Services NA is reformulating its financials of eight quarters marked with a 20.3 billion US dollars write-down over deteriorating credit and stricter regulations, according to the statement published by the bank.

Nokia announces its new strategy

Mobile phones manufacturer Nokia has come up with a new strategy, including changes in leadership that are not yet publicly announced. This way the company is trying to boost its performance among competitors, according to Nokia statement.

Ryanair’s ex-CEO interested in Brasil’s discount carrier market

The former chief executive of the airline Ryanair Charlie Clifton intends to invest 500 million US dollars in the airline Webjet, in this way developing the flight route network inBrazil, which would be similar to the services provided by Ryanair in Europe.

Unrests keep boosting oil price

Oil price gains reached more than a dollar per barrel in the morning of January 21, following ongoing unrest in OPEC member states spreading also to Middle East and North Africa. Moreover, protests endanger oil supply across the region.

Japan acquires Airbus A380 planes

The Japanese airline Skymark Airlines has reached a definitive agreement on four Airbus A380 aircraft – the world’s biggest airliner – purchase, indicates the statement published by Airbus.

Finland in threat of doubling IT sector unemployment

Job cuts at Nokia are threatening to double the number of the jobless in the information and technology sector in Finland. Currently there are 100 000 people working in the Finnish IT sector.

Foreign investments surge at Russian banks

On January 1, 2011, foreigners’ investments at the Russian banks equity capital amounted to 28.1% of the total volume, which is by 3.5 percentage points more than last year.

Imprisonment for bribery replaced with 500 million rubles fine

Russia’s President Dmitry Medvedev has submitted a Bill to the Council, stipulating sharp increase in the fines for all involved parties in commercial bribery.

Dell’s quarterly profit boosts its share value

On Thursday, February 17, the value of Dell Inc. shares rose 11% after the world’s second largest PC manufacturer announced about the high quarterly profits, thus, reducing concerns about the sustainability of its margins.

EC turns to court against Greece on free capital flow restriction

The European Commission has decided to start legal proceedings against Greece, who has allegedly violated the European Union legislation on free capital flow.

Tension in East nears oil price to 85 dollars

On February 17, the price of oil in Asia came close to 85 US dollars per barrel. Investors are increasingly worried about the political developments in the Middle East, which could escalate and hamper crude oil supplies.