The Japanese giant Mitsubishi car is always in trouble. Along the lines of what happened to the German manufacturer Volkswagen, the fixing scandal emissions in order to pass the tests with each passing day takes a turn increasingly heavy. Mitsubishi has admitted that he resorted to an improper use of tests on anti-smog emissions in the Japanese market since 1991. During a press conference held in Tokyo, Mitsubishi Motors said it had plans to establish a special committee internal investigation - consisting of external experts, three former prosecutors - who will communicate the results of the investigation after three months of study of the case. The company has meanwhile submitted to the Ministry of Transportation emissions data from 1991 to the present. The title has collapsed on the stock exchange of another 10%, a loss that is in addition to the -35% of the total of the last sessions.
Royal Philips appears poised to quote its lighting division to focus on health and wellness segment. "Given the improvement in financial markets, compared to the first two months of the year, an IPO (Initial public offering) now seems the most likely solution," said the Dutch company in a statement explaining that the crucial decision will be taken shortly . According to Frans van Houten, Philips number one, it is still necessary that tenders are assessed by individual investors, but at this point the way stock exchange seems down.
With the ratification, Switzerland joined the Asian Investment Bank for infrastructure (AIIB). The Swiss government will from now on participate in the Board of Governors and to sit on the Board of Directors of the Bank and early participation in the institute's founding process. Switzerland is the 37th country to have formalized the all'AIIB membership along with China, India and Russia as a major shareholder. Of non-regional countries have so far ratified the accession of Austria, Denmark, Finland, Germany, Iceland, Israel, Luxembourg, Malta, Norway, the Netherlands and the United Kingdom. The participation capital of Switzerland amounted to 706.4 million dollars, of which 141.3 are actually paid. His voting share reaches 0.87 percent.
BP, british oil company, reported an 80 percent year on year fall in core earnings for the first quarter but the result was better than analysts had expected. BP's net income was $532 million (367 million pounds) in the first three months of 2016. "Market fundamentals continue to suggest that the combination of robust demand and weak supply growth will move global oil markets closer into balance by the end of the year," Dudley said in the results statement.
The government of Saudi Arabia is ready for the creation of a sovereign wealth fund that would make it independent from oil, Mohammed ben Salmane, the deputy crown prince, revealed in an interview with Al-Arabiya television, which include measures. They will be realized by 2030: almost 15 years when the whanabita regime wants to create "the world's largest sovereign wealth fund", with a budget that exceeds $ 2 trillion (about 1780 billion Euros). In the case of the amount of achievement, would beat the "treasure" that accompanies the Norway's sovereign fund, which currently has just under 870 billion dollars of investments around the world.
Gannett Co., USA Today's publisher and another hundred warheads, made an offer of 815 million dollars (about 724 million euro at current exchange rates) to acquire 100% of Tribune Publishing Company, which he published the Los Angeles Times and the Chicago Tribune, along with nine other newspapers. Both companies are listed and, as a buyer's specific note, the offer is worth $ 12.25 per share Tribune. The total value also includes 390 million in debt. "The offer to $ 12.25 also represents a substantial premium over the price of $ 8.5 which Tribune recently issued shares and warrants to shareholders a cash value certain and immediate," said Gannett.
After 150 years Goldman Sachs opens its doors to depositors. As reported by the Financial Times, the institution has decided to change strategy, according to even the demands of regulators to diversify funding sources. Goldman last week launched the GSBank.com online platform, inherited along with a block of 16 billion deposits from the acquisition of GE Capital, and to open an account will be sufficient even a single dollar. "The Goldman's decision to apply to the mass market comes at a time when the bank is under pressure to find new forms of financing," explains the newspaper City. "The results of the first quarter of the major US banks have highlighted the difficulties faced by their investment divisions ahead of volatile markets and stricter regulations."
The Ifo index, which measures business confidence in Germany, fell in April to 106.6 points from 106.7 in March. It is a minimal decline, which, however, confirms the overall resilience of the confidence in the German economy enterprises, is the Monaco Institute comments.
Bets have turned decisively towards a favorable vote by the British to stay within the European Union after the warning by US President Barack Obama, who warned London the risks caused by 'Brexit'. The implied probability of a vote to remain in the union during the referendum of 23 June rose by several percentage points to 75% share, according to Betfair, known British betting agency. According to Ladbrokes however, which is based on live betting, are 73% chances that Britain votes to stay in the European Union.
Fiat Chrysler Automobiles points to a "significant double-digit growth" for sales of Jeeps in China this year, according to Mike Manley, Coo for the Asia-Pacific region. The manager told reporters during Beijing Motor Show that the pressure on prices will continue in the market for sports vehicles in China. Also according to Manley, also the difficult moment will continue on the largest Chinese car market throughout 2016, with increased pressure on passenger vehicles.
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2 evenings to find out about the latest from the digital industry & 2 days to find ideas and to crea
ICDA will return this year to its alpine home for the 38th Bürgenstock Meeting.
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