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Economy & Finances

After seven lean years, Europe looks up

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Seven years into the financial crisis, household incomes in Europe are only now just approaching the 2009 levels, most likely mid this year, according to the Seven fat years, seven lean yearsreport. However, an economic pick-up underway over the past two years will result in incomes exceeding the 2009 level by 4.3% in late 2018. The report said that income inequality between Eurozone countries had increased markedly, during the financial crisis. However, it said the income divergence between European core countries (for example, Germany, ... Read More »

ING Group amends accounting approach for NN Group anchor investment transaction

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The announcement follows a recommendation by the Netherlands Authority for the Financial Markets (AFM) regarding the accounting approach for the anchor investment transaction. In accounting for the anchor investment transaction, ING Group recognized a provision through shareholders’ equity for a foreseeable loss at the time of the NN Group IPO in July 2014. The AFM has informed us that this accounting approach is not in accordance with IFRS. In consultation with EY, ING Group has decided to amend the accounting and will now recognize the write-... Read More »

Tesco customers to enjoy lower diesel prices for the New Year

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Peter Cattell, Fuel Director for Tesco said: “We know our customers really value low fuel prices and having diesel for 99.7p a litre will give our customers a big helping hand for the New Year. This reduction will mean millions of customers save money by shopping at Tesco.” Tesco will continue to review the price of diesel subject to changes in oil markets and foreign exchange movements. Customers will also continue to benefit from a range of offers including Tesco’s Brand Guarantee price-matching service, which means customers will never... Read More »

REG-KONE receives a one-time gain in financing income to be booked in the Q4 2015 result

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KONE will book this one-time financial gain as financing income in the fourth quarter of 2015. Consequently, this one-time financial gain will not have an impact on KONE's outlook for sales and EBIT for the financial year 2015. It will however have a one-time positive impact of roughly EUR 110 million on the company's net income in the fourth quarter of 2015. For further information, please contact: Katri Saarenheimo, Director, Investor Relations, tel. +358 (0)204 75 4705 About KONE KONE is one of the global leaders in the elevator and ... Read More »

2015 North American Box Office Revenue for Christmas Weekend Poised to Be One of Best on Record

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Rentrak (NASDAQ: RENT), the leader in precisely measuring movies and TV everywhere, today announced this holiday weekend is poised to be one of the highest-earning Christmas weekends in North American box office history. Rentrak is the entertainment industry's premier provider of worldwide consumer viewership information, measuring movie and television content everywhere the consumer is watching including box office, multiscreen television and home video. Following the momentum already created by "Star Wars: The Force Awakens" along with "A... Read More »

Hitachi Rail Italy wins a new contract from Ferrovie Nord Milano worth 40 million euro

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FNM has exercised an option in the contract signed by its subsidiary in 2006. Under the new contract, HRI will supply FNM with additional 4 trains with 4 cars each, totalling 16 cars, which will be delivered to the customer between July 2017 and November 2017 with operation due to commence soon after delivery. The cars will operate on several lines around Milan. Following the delivery of these optional units, HRI will have provided a total of 141 cars, consisting of 60 leading cars and 81 intermediate cars to FNM Group. The TSR is a double-d... Read More »

FedEx Corp. Reports Solid Second Quarter Earnings Growth

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This year’s quarterly consolidated earnings have been adjusted for expenses related to the settlement of certain independent contractor litigation matters involving FedEx Ground ($0.09 per diluted share) and the pending acquisition of TNT Express ($0.04 per diluted share). “FedEx Corp. posted solid earnings despite continued weakness in industrial production and global trade, and we are making impressive progress toward our goals to increase margins, earnings per share, cash flows, and returns on invested capital,” said Frederick W. Smith, F... Read More »

2016 Sony Open in Hawaii

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The event is the largest charity golf event in Hawaii and every year all proceeds from this event are channeled back into the Hawaiian community since 1999. In just seventeen years, the Sony Open has emerged as a leader in charitable giving in the state. With a significant start of generating $256,000 for 43 charities in 1999, tournament charity proceeds now surpass the $1million mark annually benefiting more than 150 not-for-profit organizations. Tournament:Sony Open in Hawaii ("Sony Open")Schedule: Thursday, January 14th, 20... Read More »

BMW Group sales achieve new high in November

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Munich. The BMW Group has achieved new record sales for November with a total of 197,480 (+4.9%) vehicles delivered to customers worldwide. This brings the total number of vehicles sold by the company so far in 2015 to 2,033,948 (+6.9%). It’s the first time the company has sold over 2 million vehicles by this stage in the year. "The steady sales growth we’ve shown throughout the year so far reflects the great new products we currently have on the market," commented Dr Ian Robertson, member of the board of management of BMW AG responsible for... Read More »

Songwon Industrial Group releases Financial Results for Q3/2015

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Sales in Q3 totaled 173,897 Mil. KRW Gross profit was 39,898 Mil. KRW Gross profit margin at 22.9% EBITDA increased by 87.5% over Q3/2014 The positive trend set in the first half of 2015 continued in Q3/2015. This was due to lower fuel prices, since early 2015, leading to a higher consumption of fuel and polymers. As a result, demand in the regions remained stable and strong. Songwon’s sales met expectations and its polymer stabilizers business experienced a robust Q3. However, in North, South and East Asia some volume decreases of non... Read More »

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