Most recently, Tesla CEO Elon Musk has expanded its stake in the electric car maker and acquired $ 25 million in shares. What he intends to do with his Tesla shares, the billionaire now gives a first concrete hint.
Elon Musk can not complain about too little work : In addition to his work as CEO of Tesla , he also leads the fortunes of a second multi-billion dollar company: SpaceX. This dual role has recently led to discussions at the shareholders’ meeting, as Musk has two more irons in the fire with the tunnel boring company The Boring Company and the neurotechnology company Neuralink, which are calling for his attention.
Continue reading “Billions for Space: Tesla boss Elon Musk wants to populate Mars”
YouTube gives video providers on its platform ways to earn extra money with subscription fees and the sale of fan merchandise.
YouTube channel operators with more than 100,000 subscribers are expected to be able to sell memberships for $ 4.99 or Euro per month in Europe. Paying viewers can then gain access to additional content such as livestreams. In the US, video providers will also be able to sell fan merchandise directly from YouTube. The Google video service cooperates with the online trading platform Teespring.
YouTube is the number one online video player with more than a billion users, but is competing with authors, including Instagram. The Facebook- based service also cracked the 1 billion-user mark and announced this week its first platform for longer videos with IGTV.
Continue reading “YouTube allows subscription fees and fan merchandise sales”
The Zurich subsidiary of the French group Rothschild & Co posted a net outflow of 211 million Swiss francs in 2017. “This development did not meet our expectations,” said bank chief Laurent Gagnebin on Friday in an interview with the French-French newspaper “l’Agefi”. The main reason for the decline was outflows from two specialized funds.
Nonetheless, the assets under management of the Zurich Private Bank increased, mainly due to the good development on the financial markets. At the end of December, they grew by 3.4 percent to CHF 12.2 billion.
Taking into account the Swiss business managed by Rothschild & Co’s London subsidiary, the volume on the Swiss platform of the group amounted to 26 billion euros. Inflows were mainly from England, Germany and Switzerland, it was said.
2018 “very good” start
The Rothschild Bank has changed the reporting in 2017 to the calendar year, after completing the financial year before each March. Overall, Gagnebin was satisfied with the 2017 business review.
The Rothschild Bank has improved its profitability. In addition, the year 2018 started “very well”. The increased market volatility of recent months has led to an increase in customer activity, says Gagnebin.
The fierce clashes between the US and China, according to the board of directors of the Apple supplier Foxconn, Terry Gou turn to technology.
“They are not really fighting a trade war, it’s a technology war,” Gou said at the General Assembly on Friday.
For his company, the conflict was the biggest challenge in the company’s history. Various plans have been worked out to react, said Gou, without giving any details.
Foxconn has become known as Hon Hai Precision . The company has more than one million employees, most of them in China.
The dispute between the US and China has rocketed up recently. US President Donald Trump announced on Monday that he would impose new tariffs on Chinese goods worth $ 200 billion should the government in Beijing implement retaliatory tariffs on previous US import restrictions. Analysts also believe that this is disrupting the supply chains for the technology and automotive industries, for which Foxconn produces for the most part.
Following the profit warning from Daimler, BMW is sticking to the outlook for the current year.
The business outlook of the company is unchanged, as the Munich premium manufacturer announced. In view of the discussion about additional tariffs in world trade, BMW continues to evaluate different scenarios and possible strategic options. The forecasts for 2018 assume that the global economic and political conditions will “not change significantly”.
Daimler had announced a profit warning on Wednesday due to higher Chinese import duties on vehicles manufactured in the US surprisingly. Due to import tariffs, the Group’s SUV sales in the important Chinese market are likely to decline. In addition to the trade dispute, the diesel scandal and the new WLTP exhaust and consumption test process are taking their toll on the Stuttgart-based company.
Continue reading “BMW confirms outlook for 2018”
The startup blacksmith Rocket Internet started the new year with black numbers.
The holding company of the brothers Samwer was able to earn a consolidated profit of 75 million euros, as the company announced on Tuesday in Berlin. By contrast, 2017 was a year of losses for the company, which has been listed in the MDAX since March. In the first quarter of the previous year, Rocket Internet had still suffered a deficit of 86 million euros. Sales climbed from 9 to 10 million euros year-on-year.
Continue reading “Rocket Internet starts the new year with black numbers”
Maersk, the world’s largest shipping group, announced immediate austerity measures following a disappointing first quarter.
“Our result, especially in the ocean division (container freight and port terminals) was insufficient,” said company boss Søren Skou on Thursday. On balance, Maersk posted a profit of 2.75 billion US dollars (currently about 2.3 billion euros). However, this was heavily influenced by the sale of the oil business. All sales excluding the loss increased significantly to $ 239 million.
“Given the current challenging market conditions, we will launch a number of short-term initiatives to improve profitability,” announced Skou.
The turnover of the Danish shipping company Giant grew in the first quarter by 30 percent to about 9.25 billion dollars. Two thirds of the increase was accounted for by the takeover of the shipping company Hamburg Süd. The sale of the oil business spilled $ 2.6 billion into the coffers. Maersk wants to evolve from being an oil and shipping giant to becoming a transport and logistics company.
Continue reading “Reederei giant Maersk announces austerity measures”
The market environment for luxury goods manufacturers has brightened over the past twelve months, from which the Geneva-based group Richemont also profited in the 2017/18 financial year. Although repurchases from the warehouses of watch dealers worldwide could cloud the development a bit. Overall, however, local currency analysts still expect at least a high single-digit percentage growth.
It is unclear to what extent the stock repurchases impair the operating result. This has also led to a relatively wide range of analyst estimates. Despite the burden, however, the operating margin is likely to make huge strides towards the 20 percent mark. The basis for this is the highly profitable jewelry business and the increase in profitability in the watch business.
Analysts are also hoping for answers to the question of whether the group-owned and recently refurbished leather brand Lancel is now being sold. In March, the Italian Piquadro group had registered their interest. Questions also arouse among analysts the surprisingly abrupt departure of Chief Technology Officer Jean-Jacques Van Oosten and the potential impact on the Group’s e-commerce strategy.
Continue reading “Outlook Richemont: annual sales of 11.2 billion euros expected”
The US retailer Walmart suffered a profit slump in the first quarter due to a one-off effect.
However, the operating result remained stable and Walmart increased its sales more than expected. The stock was in the Thursday trading with discounts and finally went down 2.01 percent at $ 84.40 from the trade.
Net income for the quarter as at the end of April was down 30 percent year-over-year to $ 2.13 billion. Due to a change in accounting, the Group had to report an investment in the online retailer JD.com as unrealized loss. On an adjusted basis, earnings per share increased 14 percent to $ 1.14. Analysts had expected by consensus with 2 cents less.
The operating result of $ 5.15 billion remained almost at the previous year’s level. In contrast, sales increased by 4.4 percent to 122.7 billion dollars. Here, the analysts had predicted 120.5 billion. Like-for-like sales in the US increased by 2.1 percent.
The recently announced acquisition of a $ 16 billion majority interest in the Indian startup Flipkart will reduce earnings per share for the current fiscal year 2018/19 by 25 to 30 cents should the deal be completed by the end of the second quarter. The company will publish an updated outlook with the second quarterly report.
FRANKFURT (Dow Jones)
Continue reading “Walmart exceeds expectations in the first quarter – share had to give up”
Until recently, the message service Twitter has been in the black for the second quarter in a row.
Finally, the reconstruction work of co-founder Jack Dorsey, who returned to the Twitter top two and a half years ago, finally took hold .
Twitter was also able to record a noticeable increase in the number of users. At least once a month, 336 million users were active – in the previous three months, the number had stagnated at 330 million.
This growth was mainly outside the US with a jump from 262 to 267 million users. In the home market, however, Twitter is stuck for over a year just below the mark of 70 million users. The number of daily active users increased worldwide by ten percent – but Twitter does not traditionally put them.
Continue reading “Twitter stock turns negative: keeps itself in black”