Chevron sentenced for environmental damageA court in the USA has sentenced Chevron $CVX (+2,26%) for damages after the environmental organization Lowlander Center uncovered alarming environmental problems. The organization points out that the canals dug for oil and gas rigs in the Gulf of Mexico significantly impede the natural flow of water in the adjacent wetlands. The consequences are serious: during heavy storms, masses of water can flow unhindered inland instead of being distributed in the branches of the marshland. A law dating back to 1978 obliges companies to restore used areas to their original state after the end of operations, but Chevron has not complied with this obligation. The lawsuit accuses the company of failing to obtain proper permits and to properly dispose of wastewater, resulting in contamination of the affected areas. The court's decision could have far-reaching consequences for Chevron and the entire industry, as it puts a clear focus on the responsibility of companies for environmental damage.

US car tariffs force Nissan to halt sales and Ford to offer discountsThe new car tariffs in the USA are already having an impact and are causing turbulent times in the automotive industry. Nissan $NISA has therefore temporarily stopped selling vehicles in the USA in order to escape the effects of the tariffs. This decision shows how quickly companies have to react to economic changes. Ferrari $RACE (+1,57%) is not unaffected by the new tariffs and has increased the prices of its models by up to 10 percent. This is one of the first reactions of a manufacturer to the increased customs duties. Stellantis $STLAM (+1,96%)the parent company of Opel and Chrysler, has also announced that it will cease production in Canada for 14 days. This measure was announced by the trade union Unifor via Facebook and makes it clear that the new customs regulations not only have a significant impact on manufacturers, but also on the US workforce. The automotive industry is facing a challenging time in which strategic action and adaptability are required.

Sources:

https://www.manager-magazin.de/unternehmen/industrie/usa-gericht-verurteilt-chevron-zu-schadensersatz-fuer-umweltschaeden-a-e999ccc6-0c14-4673-8786-d47405c81d69

https://www.manager-magazin.de/unternehmen/autoindustrie/us-autozoelle-in-kraft-volkswagen-stoppt-auslieferung-stellantis-unterbricht-produktion-a-4712a802-0776-482a-9eca-8e637ee3580a

Have you heard about Renault's latest successes? $RNO (+1,27%) yet? Despite the difficult situation in the car industry, the French car manufacturer achieved a turnover of 56.2 billion euros last year - an increase of 7.4 percent! 🚗

Operating profit even climbed to around 4.3 billion euros, which corresponds to an increase of almost 4 percent. Renault thus exceeded the expectations of analysts, who had predicted 4.2 billion euros. The company not only achieved its annual targets, but also exceeded its own target of 7.5 percent with an operating return on sales of 7.6 percent.

Despite this positive news, however, Renault had to accept a book loss from the sale of shares in Nissan $NISA shares in Nissan. Without this effect, profit would have risen to 2.8 billion euros - an increase of 21 percent compared to the previous year.

Despite a fall in net profit to 752 million euros compared to 2.2 billion euros in the previous year, Renault plans to increase the dividend for shareholders next year. What do you think about the future of Renault and developments in the automotive industry?