Coca-Cola presents Q1 2022 earnings
Coca-Cola has recently reported its earnings for the first quarter of 2022 that soared by 24%. Despite the suspensions of its Russian business, the company’s first-quarter net income totaled
$2.781 billion. On a yearly basis, the carbonated soft drink manufacturer saw growth of 24%. Earnings per share in the first quarter came in at $0.64 compared to $0.52 a year earlier and topped analysts' expectations of $0.58. Coca-Cola's annual net sales rose by 16% to $10.491 billion and beat market forecasts of $8.6 billion.
The Coca-Cola Company was established in 1892. The firm is based in Atlanta, Georgia. Its most popular brands are Coca-Cola, Fanta, and Sprite.
More sanctions on Kremlin to follow?
The White House pins hope on its policy of sanctions to cripple the Russian economy. Washington has already imposed a vast array of severe economic restrictions. Currently, the US administration voices concerns about the overuse of this lever which seems to be the only option for stepping up pressure on the Kremlin.
10:52 2022-07-06 UTC+00
Germany to last 2.5 months without Russian gas
Despite possible headwinds in the future, Germany remains faithful to its beliefs and principles. The common position of the European Union, the United States, and the vast majority of the world's countries on Russia is unwavering, even taking into account energy shortages.The German authorities are well aware of the complexity of the situation amid an impending cold winter.
10:31 2022-07-06 UTC+00
Angela Merkel: gas is not weapon
Former German chancellor Angela Merkel has refuted all claims that Russia is using the Nord Stream 2 as a weapon and instrument to affect other countries from a political point of view.The former chancellor stated that Russia had no intention to use the Nord Stream 2 as a weapon.
14:09 2022-07-05 UTC+00
Germany to ditch Russian energy imports, albeit at high cost
For Germany, the core of the current energy policy is phasing out its dependence on Russian oil and gas. At the recent EU summit in Brussels, German Chancellor Olaf Scholz reported on the state of affairs in cutting ties with Russian energy suppliers.
12:24 2022-07-05 UTC+00
Turkey’s credit default swaps jump to 19-year high
Turkey continues to struggle with a severe economic crisis. Reportedly, the Turkish economy is on the verge of default amid the country’s credit default swaps (CDS) hike. A credit default swap is insurance against a debt default. The buyer compensates the seller in the event of insolvency of the borrower, and the buyer can expect the debt to be repaid.
12:10 2022-07-05 UTC+00
Countries face food shortages
Food shortages in developed and developing countries differ significantly. Advanced economies ring the alarm bell when shops run out of lettuce or salami, while poor countries are struggling with a lack of basic food and hygiene products, as well as clean water. Nevertheless, given the logistics problems and economic headwinds, almost all countries will face a food crisis.
12:05 2022-07-05 UTC+00