Business News

Uber and EVgo team up for promoting EV adoption among rideshare drivers

Uber and EVgo team up for promoting EV adoption among rideshare drivers

A memorandum of Understanding (MoU) has been signed by the Uber ride-hailing service and the EVgo fast-charging network to promote the adoption of electric vehicles (EVs) by rideshare drivers.

Germany: Porsche creates 500 new positions in EV production at its HQ

Germany: Porsche creates 500 new positions in EV production at its HQ

German automaker Volkswagen’s sports car brand Porsche has revealed in a recent press information that it has created 500 new positions in electric vehicle (EV) production at its headquarters in St

Indian Government relaxes norms for Indian Retail Sector

Indian Government relaxes norms for Indian Retail Sector

The government is on a roll and is making concerted efforts to bring India’s economic growth back on track.

Chemical giant BASF reports 1st quarter slump in earnings

Chemical giant BASF reports 1st quarter slump in earningsMannheim, Germany - Shares in German chemical giant BASF surged Thursday - despite the company reporting a steep drop in 2009 first quarter sales and profits, as the economic slowdown began to bite.

At 12.2 billion euros (16.1 billion dollars), sales were 23 per cent lower than in the first quarter of 2008, primarily due to persistently weak demand, the company said in a statement.

Exposed Austrian bank sees profits drop by a quarter

Exposed Austrian bank sees profits drop by a quarterVienna - Austria-based Erste Group Bank saw its net profits drop 26.5 per cent in the first quarter of 2009, the bank said Thursday, reflecting its high exposure to loans to central and Eastern Europe.

The bank, one of Central and Eastern Europe's biggest lenders, made a net profit of 232.1 million euros (306.7 million dollars) in the first three months of the current year, down from 315.6 million euros in the same period of the previous year.

With the exception of the Ukraine, all of Erste's Central and Eastern European operations were profitable.

Ericsson first-quarter net income drops 30 per cent

Ericsson first-quarter net income drops 30 per cent Stockholm - Swedish telecommunications giant Ericsson on Thursday posted an increase in first-quarter 2009 sales - but net income fell dropped dramatically due to losses attributed to its joint venture Sony Ericsson.

Pre-tax income in the quarter totalled 3.3 billion kronor (400 million dollars), a 25 per cent decline year-on-year but better than analysts had predicted.

Net income - after losses and restructuring charges - dropped 30 per cent to 1.8 billion kronor while sales increased 12 per cent to 49.6 billion kronor, Ericsson said.

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