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Economy & Finances

American Honda Sets New April Sales Record: Honda Division Posts Best Ever April Sales

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American Honda Motor Co., Inc. today reported a new April sales record of 148,829 Honda and Acura vehicles, an increase of 14.4 percent for the month. Year to date American Honda sales reached 506,532, up 9.2 percent. The Honda Division set a new monthly record with 132,623 units sold in April, an increase of 15.1 percent compared to April 2015 with year to date sales up 10.5 percent. Acura Division sales totaled 16,206, an increase of 9 percent in April with year to date sales reaching 54,081. Honda With strong and balanced demand across t... Read More »

State aid: Commission gives final approval to existing guarantee ceiling for German HSH Nordbank

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This decision is based on new commitments by Germany to split HSH Nordbank (HSH) into two parts and to sell the operational business without additional state aid. It enables the bank's core activities to remain in the market if the sale process is completed successfully and the resulting entity is viable. This follows the agreement in principle reached between Commissioner Vestager and German authorities in October 2015. Commissioner Margrethe Vestager, in charge of competition, said: "Today's decision puts an end to the investigation into H... Read More »

Vice-President Georgieva welcomes European Parliament approval of 2014 EU Budget implementation

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Vice-President Kristalina Georgieva, responsible for budget and human resources, said: "I am grateful to the Members of the European Parliament for their vote of confidence, and to the rapporteurs for their substantive work. The message is clear: we must continue to improve the quality of spending from the EU budget together with all actors concerned and that means both emphasis on performance and on compliance with the rules. Speedy action on urgent issues like the refugee crisis and humanitarian aid must go hand in hand with controls. The EU ... Read More »

Interest rates: final vote to ensure robust and transparent benchmark setting

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"This law should put an end to manipulation of benchmarks and I am delighted it has now been passed. These indices are important for people with mortgages, but are also used to establish the price of petrol and the Euro exchange rate and should therefore be fully trustworthy. I am proud that Europe is the first continent to regulate this", said lead MEP Cora van Nieuwenhuizen (ALDE, NL). The law was passed by 505 votes to 113, with 31 abstentions. Benchmark categories The law creates three categories of benchmarks, subject to different su... Read More »

Boeing Reports First-Quarter Results and Reaffirms 2016 Guidance

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Table 1. Summary Financial Results First Quarter (Dollars in Millions, except per share data) 2016 2015 Change Revenues $22,632 $22,149 2% Non-GAAP* Core Operating Earnings $1,694 $2,132 (21)% Core Operating Margin 7.5% 9.6% (2.1) Pts Core Earnings Per Share $1.74 $1.97 (12)% GAAP Earnings From Operations $1,788 $2,019 (11)% Operating M... Read More »

First quarter 2016 results

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Bob Dudley, BP group chief executive, said: “Despite the challenging environment, we are driving towards our near-term goal of rebalancing BP’s cash flows. Operational performance is strong and our work to reset costs has considerable momentum and is delivering results. Furthermore, development of our next wave of material upstream projects is well on track.” The Brent oil marker price averaged $34 a barrel in the quarter, compared with $44 in 4Q 2015 and $54 in 1Q 2015, and refining margins were at the lowest quarterly average for over five... Read More »

P&G Announces Third Quarter Fiscal 2016 Results

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CINCINNATI--(BUSINESS WIRE)--The Procter & Gamble Company (NYSE:PG) reported third quarter fiscal year 2016 diluted net earnings per share of $0.97, an increase of 29%. Core earnings per share were $0.86, a decrease of three percent, while currency-neutral core earnings per share were unchanged versus the prior year. Core operating profit margin increased 300 basis points driven primarily by productivity savings in gross margin. Net sales were $15.8 billion, a decrease of seven percent versus the prior year including a five percent negative... Read More »

Interim Report 1st Quarter 2016

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On April 29, 2016, you can obtain further information from the internet at the following addresses: Interim Report (from 7:00 a.m. CEST)  basf.com/interimreport (English)  basf.com/zwischenbericht (German) News Release (from 7:00 a.m. CEST)  basf.com/pressrelease (English)  basf.com/pressemitteilungen (German) Live Transmission – Telephone Conference for analysts and investors (from 8:30 a.m. CEST)  basf.com/share (English)  basf.com/aktie (German) Live Transmission – Speech Dr. Kurt Boc... Read More »

Finance ministers meeting in Amsterdam

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The finance ministers of all the EU’s 28 member states discussed, among other things, ways to strengthen the European Banking Union, the Panama Papers and the financial sector´s contribution to a sustainable and stable economy. The discussion of Banking Union considered the risk of countries in financial stress dragging down banks with significant holdings of sovereign debt. The Netherlands Presidency had placed this issue on the agenda. ‘We discussed the issue in depth,’ said Mr Dijsselbloem. ‘It’s reassuring to note that everyone recognise... Read More »

Financial re-integration trend moderates, but ambitious capital markets union will boost benefits of integration

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Retail bank lending rates continued to converge across countries, for example. However, the trend has slowed since spring/summer 2015, partly due to offsetting developments in different market segments. Some divergence in bond yields can be explained by increasing risk aversion in global financial markets and countries’ fundamentals. The report highlights a series of policy actions that support the financial re-integration trend. In addition to the ECB’s expansionary monetary policy, the Single Resolution Fund became operational this year. E... Read More »

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