• BMW beats expectations to a €4.8bn Q2 net profit

      BMW beats expectations to a €4.8bn Q2 net profit

      The German car maker BMW announced rising profits as it managed to benefit from the post-pandemic rebound. The company gained from higher prices of luxury cars in combination with a strategy focused on more profitable models. The net profit for the second quarter of 2021 edged up to 4.8 billion euros, AP reported. BMW still warned that deficit of raw materials will have a negative impact on the company's output in the coming quarters.

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    • Sanofi buys US Translate Bio for $3.2bn

      Sanofi buys US Translate Bio for $3.2bn

      The French pharmaceutical giant Sanofi announced it had agreed to acquire the US biotech company Translate Bio in a deal valued at 3.2 billion dollars. The move is part of Sanofi's strategy to move to the next generation mRNA technology after it suffered a bitter loss in the race for invention of Covid-19 vaccine, Reuters reported. Sanofi confirmed that under the deal it would acquire all outstanding shares of Translate Bio.

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    • BP Q2 profit soars to $2.8bn

      BP Q2 profit soars to $2.8bn

      The 2021 second quarter profits of the energy giant British Petroleum outpaced expectations to reach as high as 2.8 billion dollars. The higher international prices of oil were the main factor behind the positive result, Reuters reported. The higher than expected profits provoked the giant to raise targets related to planned dividend payments and share buybacks.

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    • HSBC profits spike to £7.8bn

      HSBC profits spike to £7.8bn

      The UK leading HSBC bank announced surging profits for the first six months of 2021 on the back of post-pandemic rebound both in Britain and in Hong Kong. The profits more than doubled in the envisaged period, BBC reported. HSBC said its pre-tax profit for the period spiked to £7.8bn. The UK bank said all regions brought profits in the period. The figures come as the global economy recovers from the impact of the coronavirus pandemic.

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    • Square buys digital platform Afterpay for $29bn

      Square buys digital platform Afterpay for $29bn

      Square, which is owned by the co-founder of Twitter Jack Dorsey, announced it agreed a 29 billion dollars deal to acquire the Australian digital payments platform Afterpay. The deal is very lucrative for Afterpay shareholders as it gives them a 30%premium over the last stock price, BBC reported.

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    • Axa rebounds by 180% in the first 6 months of 2021

      Axa rebounds by 180% in the first 6 months of 2021

      The leading French insurer Axa announced robust growth in net income which accounted to a 180% rise in the first six months of 2021. The company rebounded from a peak in pandemic-related claims which led to it booking a 1.5 billion euros charge last year, Reuters reported. Axa, Europe's second-largest insurer after Allianz confirmed net profit at 3.99 billion euros in the first half, more than double the 1.43 billion euros a year earlier.

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    • 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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