getquin Daily Summary 28.06.2022
Hello getquin,
today's MarketNews is about the G7 summit, a raid at the biggest Japanese car manufacturer in Luxembourg and Germany and a not pleasant forecast from Lufthansa.
Do you already know our Learnsection? On Friday, a new article on a blockchain ETF was published here.
Europe🌍:
1st raid on Hyundai and Kia in Germany and Luxembourg
The offices of carmaker Hyundai and its subsidiary Kia have been raided on suspicion of improperly modifying diesel vehicles. According to the Frankfurt public prosecutor's office on Tuesday, eight buildings in Germany and Luxembourg were searched by around 140 criminal investigators. Suspicions of fraud and air pollution against managers of Hyundai and Kia and supplier BorgWarner served as the background for the action.
Prosecutors found that the South Korean automaker allegedly sold more than 210,000 diesel vehicles by 2020, even though the cars allegedly had illegal defeat devices installed. These lead to a number of common scenarios where emission control devices are drastically reduced or turned off.
Thats the sound of the police 👮: https://bit.ly/3npzroY
🟩 $HYUD (-3.85%) (🔼 +4,24 %)
Americas 🌏:
2nd EY to pay $100 million to settle U.S. allegations of fraud in accountant audits
Big Four accounting firm Ernst & Young will pay $100 million to settle allegations by the U.S. Securities and Exchange Commission (SEC) that its auditors cheated on Certified Public Accounting (CPA) exams and misled the agency's investigators.
The London-based auditor admitted to the allegations, the regulator said, and agreed to pay what the SEC says is the largest fine against an auditor.
The CPA is the key qualification for auditors in the United States.
More info here: https://reut.rs/3uvJIEn
Welt🗺️:
3rd CEO Lufthansa doesn't expect flight chaos to end before winter
The CEO of Europe's largest airline group said in a letter to customers that the situation, characterized by staff shortages, parts shortages and restricted airspace, "is unlikely to improve in the near future." In Europe alone, the industry will hire several thousand new employees. But in the coming winter, this capacity expansion will only stabilize the situation. Speaking on behalf of the organization, Spohr expressed regret that the "ramp-up of the complicated air traffic system from virtually zero to almost 90% again today" after the Corona disaster had not resulted in the expected reliability, punctuality and robustness. Management acknowledged that there are several places where the Lufthansa Group is also understaffed.
Are you planning to fly? https://bit.ly/3u5aPWA
🟩 $LHA (-1.3%) (🔼🔽 +1,54%)
Special:
4th G7 - What will be discussed?
Tonight ends the third and final day of the G7 Summit at Elmar Castle. As described in yesterday's MarketNews article, the 7 most important industrialized nations are discussing current global problems. The main topics of this year's G7 Summit were predictable. The current Ukraine war played a very important role in the meeting, as it brings gas and food shortages. But it also makes other countries think about their security policies, such as an upgrade of the military. Another topic at the summit, as in previous years, was the COVID-19 pandemic and how to act more quickly against pandemics in the future. Also in focus was the climate change and the plans of the individual countries against the climate policy.
General info on the G7 summit here: https://www.g7germany.de/g7-de
Quarterly figures:
Nike $NKE (+0.26%)
EPS: 🟩 $0.81 expected vs $1.00 reported; difference: 22.99
Revenue: 🟩 $12.09 billion expected vs $12.23 billion published; variance: 1.16%
For more, see Nike: https://swoo.sh/3HVAfeW
𝗦𝘁𝗼𝗰𝗸𝘀 𝗼𝗳 𝘁𝗵𝗲 𝗱𝗮𝘆:
🟩 TOP $TCOM (-3.52%) 26,95 € (🔼 +15,91%)
🟥 FLOP $WISE (-0.68%) , 3,72 € (🔽 -14,19%)
🟥Most searched $AMZN (+1.9%) , 105,83 € (🔽 -1,48%)
🟩 Most traded $1211 (-1.07%) , 39,79 € (🔼 +5,02 %)
🟩 S&P500, 3,904.84 (🔼 +0.12 %)
🟩 DAX, 13,303.45 (🔼 +0.89 %)
🟩 bitcoin ₿, €19,803.69 (🔼 +1.11 %)
Time: 16:30 CEST
𝗙𝘂𝗻 𝗙𝗮𝗰𝘁:
Did you know that paper money was first used in the 7th century in China among merchants. In fact, in the 11th century, due to a shortage of copper, not enough coins could be produced, which made paper money common. In Europe, bills did not appear until 500 years later. In 1661, Sweden was the first country to use paper money.
