Corporate

BP, british oil company, reported an 80 percent year on year fall in core earnings for the first quarter but the result was better than analysts had expected. BP’s net income was $532 million (367 million pounds) in the first three months of 2016.

"Market fundamentals continue to suggest that the combination of robust demand and weak supply growth will move global oil markets closer into balance by the end of the year," Dudley said in the results statement.

Royal Philips appears poised to quote its lighting division to focus on health and wellness segment. "Given the improvement in financial markets, compared to the first two months of the year, an IPO (Initial public offering) now seems the most likely solution," said the Dutch company in a statement explaining that the crucial decision will be taken shortly .
According to Frans van Houten, Philips number one, it is still necessary that tenders are assessed by individual investors, but at this point the way stock exchange seems down.

The Japanese giant Mitsubishi car is always in trouble. Along the lines of what happened to the German manufacturer Volkswagen, the fixing scandal emissions in order to pass the tests with each passing day takes a turn increasingly heavy.

Mitsubishi has admitted that he resorted to an improper use of tests on anti-smog emissions in the Japanese market since 1991. During a press conference held in Tokyo, Mitsubishi Motors said it had plans to establish a special committee internal investigation – consisting of external experts, three former prosecutors – who will communicate the results of the investigation after three months of study of the case.

The company has meanwhile submitted to the Ministry of Transportation emissions data from 1991 to the present. The title has collapsed on the stock exchange of another 10%, a loss that is in addition to the -35% of the total of the last sessions.

The French group DCNS Defense rivals out of Germany (ThyssenKrupp) and Japan (Mitsubishi and Kawasaki Heavy Industries) and won a giant contract to build the new Australian submarines worth 50 billion Australian dollars, which means 34 billion euro at current exchange rates. The announcement, which covers a fleet of 12 new submarines, was given directly by the Australian prime minister Malcolm Turnbull, while the French side has even been described as "historic".

Procter & Gamble revises downwards its estimates for the full year 2016 after closing a quarter of mixed results, with declining sales and profits rise. The US giant of products for personal care reported in the fiscal third quarter 2016 revenue amounted to $ 15.8 billion, down 7% compared to the same period of 2015, due to the strong dollar. Net profit however rose to 2.75 billion dollars, or 97 cents a share, from 2.15 billion, equal to 75 cents per share, a year earlier. Analysts had expected revenues of 15.81 billion dollars and earnings per share of 82 cents.

Despite the positive close in the first quarter thanks to the strong performance in the NAFTA area, 90% of the total, the huge debt Fiat Chrysler Automobiles NV is entitled to lose more than 3% before the close of the day.

In addition to the 5.5 billion dollars that weigh on the company, the title also suffer because of fears of analysts who fear that the US auto market is now saturated.
"The group confirms for 2018 the objective to a positive net financial position," said the CEO of Fiat Chrysler Sergio Marchionne, and although "the car NAFTA has become harder and more competitive, the nocietà does not provide for a fall" .

Fiat Chrysler Automobiles points to a "significant double-digit growth" for sales of Jeeps in China this year, according to Mike Manley, Coo for the Asia-Pacific region.

The manager told reporters during Beijing Motor Show that the pressure on prices will continue in the market for sports vehicles in China.

Also according to Manley, also the difficult moment will continue on the largest Chinese car market throughout 2016, with increased pressure on passenger vehicles.

The Ifo index, which measures business confidence in Germany, fell in April to 106.6 points from 106.7 in March. It is a minimal decline, which, however, confirms the overall resilience of the confidence in the German economy enterprises, is the Monaco Institute comments.