In the second quarter, the Australian economy fell by 7% to the first quarter amid a coronavirus pandemic. In the previous quarter, the decline was 0.3%. Thus, Australia has entered a recession for the first time in 30 years.
The quarterly decline in GDP has been the highest since the beginning of observations in 1959. Analysts expected a smaller reduction in the indicator – by 5.9%.
In annual terms, Australia’s GDP fell by 6.3%.
Consumer spending fell by 12.1% last quarter compared to the previous three months (down 1.2% in the first quarter). The costs for services fell by 17.6%.
Business investment fell to a record 4.9% since the fourth quarter of 2000, after falling 0.5% three months earlier.
However, government spending increased by a maximum in the fourth quarter of 1995 2.9% after rising by 2.1% quarter earlier.
Imports of goods and services in the second quarter fell by 12.9% (after a decrease of 6.7%), while exports fell by 6.7% (after a decrease of 4.4%).
By the end of this year, the German airline Lufthansa intends to reduce its foreign staff by 20 thousand people, as well as sell its LSG division, which deals with on-board catering, which employs 7.5 thousand people. Lufthansa subsidiaries Eurowings, Swiss, Austrian and Brussels Airlines are reducing the frequency of flights, fleets and staff amid […]
Company representatives, who engaged in the design, construction and equipment for solar power plants, note a significant decline in demand for their services. This is due to instability of the industry and growing debts for “green” electricity. “We are talking about 1260 MW of RES generation that has been launched in the first three quarters […]
German automaker Volkswagen will invest about 73 billion euros over the next five years in electrification, hybrid powertrains and digital technology, the company said in a statement following a meeting of the supervisory board. In particular, about 35 billion euros are planned to be spent on electric cars on battery power, about 11 billion – […]
Shares of General Motors, down by 3.7% since the beginning of the year, rose by 3.9% in trading after the company announced the results of the 3rd quarter, which ended on September 30. General Motors reported earnings per share increase of 65% to $ 2.83, which was higher than analysts expected $ 1.38. The amount […]
Shares of Peloton, which rose nearly 346% since the beginning of the year, rose 2% during trading on Friday after the company published the results of the first quarter of fiscal 2021, which ended September 30. Peloton, which went public a little over a year ago, reported earnings per share for the second quarter in […]
Shares of Netflix fell after the company released a quarterly report on October 20 with only 2.2 million new subscribers. At the same time, over the last week, stock growth has resumed and since the beginning of the year, the share price of Netflix has risen by 59%. The company’s management and analysts cited the […]
Shares of Starbucks recovered from losses of February and March due to the pandemic and rose by 19.7% over the past 6 months. But shares fell again after the publication of the quarterly report, which ended September 30. Starbucks revenue and profit for the 4th quarter of fiscal 2020 showed a strong jump in growth […]
American chipmaker Advanced Micro Devices Inc (AMD) is buying rival Xilinx Inc for $ 35 billion under a deal that it will be paid for in full by AMD shares. According to a press release from AMD, the operation will create a company worth about $ 135 billion. “The acquisition of Xilinx will allow AMD […]
Antimonopoly Committee of Ukraine has approved the deal Cyprus company Fundamentum KCG Limited with representative of national business OOO Development Foundation. The decision was published on the official website of the Ukrainian regulator on January, 27 of this year. According to publicly available information, the foreign conglomerate will carry out the acquisition of a controlling […]Next
The subject of raiding remains urgent and at the same time very painful for Ukraine, especially for foreign investors. It isn’t accepted to speak about it openly. The victims of similar captures in rare instances make public the fact of their entities occupation. Syutkin & Partners Law Firm together with USUBC, the Ministry of Justice […]Next
Shares of Lyft, which fell 16.2% since the beginning of the year but jumped 37.4% over the past week, rose 5.8% amid investor reaction to the company’s quarterly report. Lyft reported a loss for the third quarter (ended September 30) at $ 1.46, which is worse than analysts’ forecasts at – $ 0.91 loss per […]Next
Business assessments of economic growth in Ukraine have improved for the first time since the first quarter of 2020 – the index of business expectations of enterprises returned to a positive value of 108.4%. This is evidenced by the results of a survey of company executives conducted by the National Bank of Ukraine in the […]Next
The European regulator on personal data protection has sent a preliminary order to American Facebook to stop the transfer of data of its users in the United States, according to the Wall Street Journal, citing sources familiar with the situation. “The EU’s privacy regulator has sent a preliminary order to Facebook for suspending the transfer […]Next
Until quite recently, the Petcube took the lead position in the Ukrainian niche of gadgets for pets. But a startup team of the Moggie project proved their importance. The company is developing a smart collar for cats and mobile application, which in pairs or individually will allow owners to monitor the health of their pets, […]Next
The Bloomberg News agency estimated the yield a wide range of assets in 2015, ranging from currencies and stock indexes, to commodities and junk bonds. It is in the segment of junk bonds (junk, high-yield bonds) determined the most profitable asset last year – Eurobonds of Ukrzaliznytsia with maturing in May 2018. Investments in this […]Next
The Tesla Motors will conclude the bargain with the Grohmann Engineering GmbH complex. The representatives of the American company which are engaged in a construction of electro cars intend to redeem 100% of the systems European developer shares for batteries release. They are going to close the deal until the end of 2017. The cooperation […]Next
According to news agency Bloomberg, citing informed sources, a large Irish pharmaceutical company Shire is buying its rival company Baxalta Inc. This will create a new global biotech giants. The acquisition price is approximately $ 32 billion by shares and cash, not including the payment of debts. Precise details of the purchase are not currently […]Next
The new Ukrainian low-cost carrier Bees Airline registered its first two aircraft in Ukraine – a Boeing 737-800. “This is a Boeing 737-800 with flight numbers of the Ukrainian register UR-UBA and UR-UBB. The State Aviation Service issued registration certificates for them on February 22 and 23, 2021,” the statement reads. It is noted that […]Next
Shares of General Motors, down by 3.7% since the beginning of the year, rose by 3.9% in trading after the company announced the results of the 3rd quarter, which ended on September 30. General Motors reported earnings per share increase of 65% to $ 2.83, which was higher than analysts expected $ 1.38. The amount […]Next
Japanese company Hitachi has announced the purchase of American developer GlobalLogic for $ 9.6 billion, according to Reuters. The American company has several offices in Ukraine and is one of the three largest IT employers in the country. GlobalLogic owns 45% in equal shares of Canada Pension Plan Investment Board and Swiss investment company Partners […]Next
The Uber company, specializing in the online service personal drivers, announced that on June 30 presents will launch of its project in Kiev. According to the company’s press service, the visit the Ukrainian capital of European leadership, however, the details of the visit aren’t informed. The mass-media reported that Uber can expand its service to […]Next
Next year, Ukraine may face a number of macroeconomic risks that will greatly affect economic growth. The Ministry of Finance listed these risks. In particular, Ukraine may lose 0.6-0.8 percentage points of GDP growth due to too low grain yields, due to which the budget will not receive UAH 8.5 billion. At the same time, […]Next
Authorities in the United States and the European Union have agreed to end a long-running trade dispute over the aerospace concerns Boeing and Airbus, which has resulted in mutual tariffs of more than $ 10 billion, said Catherine Ty, the US representative at the trade talks. “The US-EU agreement marks significant progress in reaching a […]Next
Mail.ru stops to deliver a traffic in points of a traffic exchange in Ukraine. “Liga.net” published this information on its web-site. Mikhail Polovinka, UA-IX director on Ukrainian point of exchange of a traffic reported that Mail.ru had sent them the notification according to which the group of companies stopped delivery of a traffic to Ukraine […]Next