• Renault returns to profit despite chip shortage

      Renault returns to profit despite chip shortage

      French carmaker Renault announced it was optimistic about 2021 financial results and further noted it even expected to close a full-year with profits despite the acute semiconductor chip shortages that pressured the whole automotive industry. Renault reported first-half net profit of 354 million euros after suffering a loss of nearly 7.3 billion euros a year earlier amid long industry-wide production shutdowns during the pandemic, Reuters elaborated.

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    • Air France cuts losses to €248m on less travel restrictions

      Air France cuts losses to €248m on less travel restrictions

      The lifting of travel bans and restrictions related to pandemic helped Air France - KLM to reduce its losses in the middle of 2021. As most European nations eased travel restrictions the transport sector is finding solid ground to spur its recovery, Reuters elaborated. The French-Dutch carrier announced positive second quarter results which proved smaller losses and raising cash from operations.

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    • Strong 5G demand spurs Nokia business

      Strong 5G demand spurs Nokia business

      Finland's producer of mobile phones and wireless solutions Nokia announced key internal restructuring to place emphasis on sales of equiptment for 5G networks as demand for next generation communications is booming worldwide, AP reported. Nokia aims to take a leading role in that market under its new CEO Pekka Lundmark who vowed to introduce a new model of management in the company.

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    • US giants make vaccination mandatory for staff

      US giants make vaccination mandatory for staff

      Key US companies led by Google, Netflix and others have found ways to make vaccination against Covid-19 mandatory for their personnel. While the streaming company plans to require that "zone A" personnel, including actors and supporting crew in close contact with them must get the jab, Google announced that only vaccinated employees would be allowed to return to their work stations in the firm's US campuses, BBC reported.

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    • Hyundai, LG invest over $1bn in joint EV plant

      Hyundai, LG invest over $1bn in joint EV plant

      The South Korean car maker Hyundai and LG Energy Solutions announced massive investments in a brand new plant, focused on making electric vehicles. The total envisaged investment accounts for 1.1 billion dollars and each partner will cover half of that cost, Reuters elaborated. The new joint venture will be locted in Indonesia and will establish a battery cell plant for electric vehicles.

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    • Panasonic Q2 profit jumps more than 27 times to $950m

      Panasonic Q2 profit jumps more than 27 times to $950m

      The Japanese electric appliances conglomerate Panasonic announced operating profits for the second quarter of 2021 which topped even the most optimistic expectations. Surging demand for car batteries drove Panasonic operating profit to exceed 27 times last year's results, Reuters elaborated. The soaring profits came on the back of economic rebound from the 2020 pandemic year.

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    • BAT posts £12.18bn 6-month revenues

      BAT posts £12.18bn 6-month revenues

      The UK tobacco giant British American Tobacco reported robust growth in sales and profits as most countries lifted restrictions related to pandemic. In most countries sales of cigarettes and tobacco products were forbidden during lockdowns, BBC elaborated. BAT reported an 8.1% rise in revenues to £12.18bn for the first six months of the year.

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