Toyota overtakes General Motors in US car sales
Japanese automaker Toyota Motor Corp outsold General Motors in 2021, selling 2.3 million cars compared with 2.2 million for GM. Toyota is often considered one of the leading car producers in the world, but US companies such as General Motors have dominated the domestic market for many years. The Detroit-based company has led US sales since 1931.
Last year, Toyota’s US sales increased by 10%, while GM went down by 13%.
Jack Hollis, Toyota’s senior vice president in North America, downplayed his company’s success. “Yes, we did surpass General Motors in sales,” Hollis told CNBC on Tuesday. “But to be clear, that is not our goal, nor do we see it as sustainable.”
According to a forecast by data analytics company J.D. Power, about 15 million cars were sold in the US in 2021. Vehicle sales slightly improved last year compared to 2020. However, over the five years before the pandemic, sales averaged 17 million a year.
Adidas revenues drop due to lockdowns in China
Adidas revenues slumped by 35% due to lockdowns in China, the sportswear manufacturer said.Lockdowns in major cities such as Shanghai forced the company to close some of its stores. Due to severe supply chain disruptions, the German sportswear manufacturer lost about $210 million.
16:30 2022-05-17 UTC+00
Boeing posts $1.2 billion loss in Q1
US aircraft giant Boeing Co. made huge financial losses. The company's net loss increased twice at the end of the first quarter and totaled a record $1.2 billion. Currently, Boeing’s shares are plummeting amid this shocking news.The company’s management reported a net loss of $1.242 billion in the first quarter. It is twice as much as a year ago. GAAP loss per share is $2.06 versus $0.
14:10 2022-05-17 UTC+00
Visa posts strong earnings despite pulling out of Russia
In its recent quarterly report, Visa confirmed a loss of $35 million after suspending its operations in Russia. Apart from that, the payment processing giant is doing really well. Thus, Visa’s net income for the second fiscal quarter of this year amounted to $3.65 billion or $1.70 per class A share compared to $3.03 billion or $1.38 per share in the same period of 2021.
15:03 2022-05-16 UTC+00
Poland stops using Russian gas earlier than expected
Poland is another country that stopped buying Russian gas. The country managed to find a new supplier of energy resources earlier than planned. The news was announced by Piotr Naimski, Government Plenipotentiary for Strategic Energy Infrastructure. He said that Poland rebuilt the earlier existing supply chains and began receiving energy from other producers.
14:05 2022-05-16 UTC+00
EU to end reliance on Russian energy by 2027
With each passing day, buyers are refusing to cooperate with Russian energy suppliers. Moreover, many are planning to completely abandon oil and gas imports from Russia. For instance, the EU intends to reduce its dependence on Russian energy supplies to zero by 2027.
14:04 2022-05-16 UTC+00
US becomes top importer of Russian ice cream in 2021
Not everybody knows that Russia exports not just natural resources and minerals. Russian ice cream has long been in demand abroad. The delicacy made in Russia enjoys worldwide popularity from China to the US.Last year, the US became the number one importer of Russian ice cream. The country purchased 10.6 thousand tons of ice cream worth $29 million.
13:27 2022-05-16 UTC+00