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Finnish tech start-up Swappie says high inflation, interest rates
... requires a large amount of capital as all the phones it buys for refurbishing and all spare parts needed for the refurbishments are incorporated into its balance sheet, as Swappie operates in 15 countries and has annual net sales of more than 100 million euros. Helsingin Sanomat said the company has invested heavily in marketing and brand recognition. In February, it announced it had raised 108 million euros in funding to support its growth. Recent media reports show that startups are finding it harder ...
Updated: 08/11/2022
Nokian Tyres to rebuild without presence in Russia
... well as many long-standing customer and supplier relationships built over the past 17 years. The depreciation of its assets in Russia will cause a 300 million-euro asset impairment in the second quarter, leaving Nokian Tyres with about 400 million euro of assets in Russia and Belarus in May. The company has seen its share price drop by almost two-thirds since the beginning of the year due to the risks associated with its assets in Russia, according to Helsingin Sanomat.
Updated: 08/11/2022
Coca-Cola bottler hits by $195 million charge in Russia
Coca-Cola bottles are seen on sale in central St. Petersburg. Istanbul. Coca-Cola bottles are seen on sale in central St. Petersburg. In the first half, a one-time hit of 190 million euro, $195.36 million was incurred by Coca-Cola in Russia, after it stopped selling Coca-Cola drinks in the country after the Ukraine war . The soft drinks bottler, which once counted Russia as one of its biggest markets, expects to sustain financial ...
Updated: 08/11/2022
German shipping giant Hapag-Lloyd posts $8.94 billion first half profit
FRANKFURT Reuters' German container shipper Hapag-Lloyd posted a net profit of 8.7 billion euros $8.94 billion for the first half of 2022, more than three times more than two times morethan FRANKFURT Reuters -- German container shipper Hapag-Lloyd posted a net profit of 8.7 billion euros $8.94 billion for the first half of 2022, more than ...
Updated: 08/11/2022
KS keeps outlook unchanged despite gas shortage
... profit guidance on Thursday, as it expects soaring prices to offset the impact of a potential gas shortage in Germany. The April forecast of 2022 earnings before interest, tax, depreciation and amortisation EBITDA were between 2.3 billion and 2.6 billion euros $2.37 billion and 2.67 billion, but the group has now included a gas bottleneck scenario in its calculations. The scenario assumes a 25% reduction in natural gas availability in the fourth quarter, which would lead to a cost burden in the low triple-digit ...
Updated: 08/11/2022
Finnish Startup Community looks to boost R&D investments
... allocations for research and development in the public sector will increase by 272 million compared to 2021, as recent developments in the public sector's R&D funding policy have been positive. The state's R&D funding will increase to almost 2.5 billion euro in total. The direction of R&D support policy was weak in the 2010 s but the current government has been able to make decisions in the early 2020s in the right direction. The Finnish startup community invests significant amounts in research and development ...
Updated: 08/11/2022
Euro, yen hold onto gains after less hot inflation data
HONG KONG Kong The euro and Japanese yen held onto most of their overnight gains on Thursday, after U.S. inflation data came in less hot than expected and sent the dollar tumbling. HONG KONG The euro and Japanese yen held onto most of their overnight gains on Thursday,...
Updated: 08/11/2022
Deutsche Telekom lifts outlook on upbeat T-Mobile performance
... core profit above estimates on Thursday, supported by upbeat performances in its U.S. unit T-Mobile and growth in its European business. EBITDA AL's adjusted earnings before interest, tax, depreciation and amortisation after leases rose to 9.9 billion euro $10.19 billion, beating consensus estimates of 9.84 billion euros in a poll by analysts. The second quarter revenue of the telecoms operator rose 5.9 per cent to 28.2 billion euros, in line with consensus estimates. The company expects to post adjusted ...
Updated: 08/11/2022
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