Business

Renault risks 'junk' credit rating, S&P warns

French automaker Renault could see its main long-term credit rating cut to below investment grade by Standard and Poor's, the agency said Wednesday, just days after Moody's lowered its own rating to "junk" status.

Business

SoftBank Group nine-month net profit down nearly 70%

Major Japanese technology investor SoftBank Group said Wednesday its net profit plunged nearly 70 percent for the nine months to December as investments in sharing economy companies including WeWork and Uber took a hit.

Automotive

Costly 'dieselgate' chokes Daimler results in 2019

German auto giant Daimler warned Wednesday that its 2019 earnings could fall short of expectations due to massive new charges over diesel emissions cheating, further clouding the outlook for the vital car sector as a whole.

Automotive

Volkswagen confident despite braking car market

German car giant Volkswagen said Wednesday it was confident of hitting financial targets despite a lower unit sales outlook, warning "vehicle markets will contract faster than previously anticipated in many regions".

Business

Rolls-Royce expresses optimism over Brexit plans

UK enginemaker Rolls-Royce on Tuesday expressed confidence over plans for Britain's departure from the European Union, but revealed that the pound's Brexit-fuelled slump has left it languishing in the red.

Business

Sony first quarter net profit down on one-off factors

Japanese entertainment giant Sony on Tuesday reported a fall in first-quarter net profit due to one-off factors, with operating profit up thanks to strong demand for its image sensors.

Automotive

Volvo Cars defies slowing market to hit record sales

Volvo Cars, the Swedish luxury brand owned by China's Geely, defied a slowing global auto market to set a record for sales in the first half of the year, although US trade war tariffs and falling prices squeezed profits.

Profit (accounting)

Accounting profit is the difference between price and the costs of bringing to market whatever it is that is accounted as an enterprise (whether by harvest, extraction, manufacture, or purchase) in terms of the component costs of delivered goods and/or services and any operating or other expenses.

A key difficulty in measuring profit is in defining costs. Pure economic monetary profits can be zero or negative even in competitive equilibrium when accounted monetized costs exceed monetized price.

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