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Finance Magazine
The Finance Magazine combines features of an authoritative financial edition and an understandable to all, approachable and interesting blog
The Finance Magazine combines features of an authoritative financial edition and an understandable to all, approachable and interesting blog
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Shares of Facebook fell by 24%

Shares of the social network Facebook fell by 24% on Wednesday, June 25, immediately after the close of major trading in the US.

It is reported that the company's quarterly financial report disappointed analysts.

The report says that the company's quarterly revenue increased by 42% and reached 13.2 billion. Analysts also expected growth at the level of 13.3 billion.

The audience of users who visit Facebook every day is 1.47 billion people. The number of users in Europe has decreased by 3 million people, and in the US and Canada has not changed.

Prior to the publication of the company's financial results, Facebook shares were at a historic high. They grew by 23% in 2018.

Stay in touch with the Finance Magazine and always keep abreast of all the latest news in the world of finance and investment!

#financemagazine #news #world #facebook #shares

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All major crypto-currencies in terms of capitalization fell in price

5 of the top five in terms of capitalization, the cryptocurrency is getting cheaper on Thursday.

Over the past 24 hours, Bitcoin has fallen in price by 1.18% to 7.4 thousand, Ethereum by 5.31% to 477, Ripple by 6.37% to 0.4815, Bitcoin Sash 5.95% up to 819 dollars and EOS by 5.17% to 8.6 dollars.

Bitcoin's capitalization is $126.1 billion, Ethereum 48.1 billion, Ripple 18.9 billion, Bitcoin Sash 14.1 billion, EOS $7.6 billion.

The volume of operations for the past day amounted to: Bitcoin 5.7 billion dollars, Ethereum 2.2 billion dollars, Ripple 0.3 billion dollars, Bitcoin Sash 0.7 billion dollars, EOS 0.9 billion dollars.

#financemagazine #news #cryptocurrencies #market

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Oil prices continue to rise

Oil benchmarks in Asian trading on Tuesday continues to rise, investors react to the unplanned reduction of supplies from Libya and Venezuela and expect a large reduction in fuel exports from Iran.

However, the market expects a further reduction in commercial oil reserves in the US: according to analysts' estimates, they fell by 3.88 million barrels. The quotation of the September futures for Brent crude on the London Stock Exchange ICE Futures on July 10 increased by $0.47 (0.60%), to $78.54 per barrel.

WTI crude oil for delivery in electronic trading on the New York Mercantile Exchange (NYMEX) in the morning on Friday went up by $0.42 (0.57%) to $74.27 per barrel. As a result of trades on Monday, the price of Brent increased by $0.96 (1.24%), to $78.07 per barrel, while WTI added 5 cents (0.07%) and was worth $73.85 per barrel.

#financemagazine #news #market #oil #brent #wti

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China offered the Europeans to jointly resist US duties

China offered the EU countries to unite and together to respond to Washington's imposed duties on steel and aluminum, but the proposal did not receive a response from European diplomats.

A number of Chinese state officials of China, during meetings in Brussels, Berlin, and Beijing, offered EU representatives to introduce joint retaliatory measures on US duties.

Stay in touch with the Finance Magazine and don't miss the most important news in the world of finance!

#financemagazine #news #world #china #eu #usa #duties

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Dollar, euro, yen, yuan: information for July 27, 2018

The dollar exchange rate stabilized in tandem with the euro, with the Japanese yen and the Swiss franc rising in price against all major currencies amid concerns about the situation in world trade.

The People's Bank of China on Wednesday, July 27, lowered the reference rate of the yuan against the dollar by 0.6%, to the lowest since January 9 6.5569 yuan/$1. During the auction in Shanghai, the yuan lost 0.9% but then reduced the decline to 0.3%.

However, the market rate of the offshore renminbi in Hong Kong demonstrates the longest decline in four years. The euro to the dollar was $1.1655 compared with $1.1648 at the close of the previous session. The value of the single European currency fell to 128.07 yen by the indicated time compared to 128.19 yen the day before. The dollar fell to 109.84 yen from 110.06 yen on Tuesday.

US President Donald Trump on Tuesday signaled that he could impose restrictions on China through the Committee on Foreign Investment in the United States (CFIUS), which assesses the potential threat of foreign investment for the national security of the country. Such an approach would be softer than on Monday voiced Washington's plan to impose restrictions on Chinese investments without any checks.

#financemagazine #news #market news #currencies #usd #yan #yen #euro

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Tesla decided to lay off 4 thousand employees

The given decision is connected with reorganization which is directed an increase in profitability of manufacture.

During the last few years, Tesla developed and expanded rapidly. This led to the duplication of some of the duties of employees, which today are difficult to justify, although they made sense in the past. Because of the need to reduce costs and achieve profitability, it was decided to fire approximately 9% of the company's employees.

The head of Tesla recalled that for 15 years the company had not made annual profits. The company seeks to accelerate the transition to clean energy, but this is difficult to achieve until the company can ensure a sustainable profit.

At the moment, the number of Tesla employees is about 46 thousand people.

Follow the news with the Finance Magazine and keep abreast of the most important events in the world of finance and business!

#financemagazine #news #marketnews #tesla #employees

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Illegal alcohol picks up 2.7 billion euros a year from the EU budget

Counterfeit alcohol deprives the EU budget of 2.7 billion euros annually.

This is evidenced by the results of a new study by the European Union's Office of Intellectual Property (EUIPO). Only in the UK fraud in this sector is estimated at 218 million pounds sterling (249 million euros) losses.

In general, the EU countries annually lose about 60 billion euros because of the prosperity of illegal trade in various goods and products, including illegal alcohol.

In particular, trade in counterfeit cosmetics, clothing, footwear and accessories, sports goods, toys, jewelry and watches, bags, audio recordings, pharmaceuticals, smartphones, batteries and tires and even pesticides is common in the EU.

Ukraine, according to the EU, has become a leader in the production of illegal alcohol products. The Ukrainian underground alcohol market reaches 60% and withdraws about 360 million euro from the budgets, the European Parliament stressed.

In the EU, even announced their intention to independently fight Ukrainian counterfeit, by forming open lists of illegal producers.

This initiative of Europeans has already been supported by domestic official producers of alcohol.

This can have a positive effect. However, in addition to creating such a list, it is important to bring the excise policy of our state in the sphere of alcohol into economically reasonable rates.

#financemagazine #news #worldnews #ue #alcohol

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Experts raised the forecast for oil prices for the 8th consecutive month

Banking analysts have improved oil price forecasts for the eighth month in a row, and the pace of revision has accelerated significantly due to geopolitical risks in Iran and Venezuela.

Because of these risks, the price of Brent oil in May rose above $80 a barrel for the first time since November 2014.

Twelve representatives of investment banks that participated in the survey conducted in late May expect that Brent brand will average $70 per barrel this year, WTI - almost $66 per barrel. Both forecasts are about $6 more than the April estimate.

Meanwhile, in the course of trading on Monday, the August contract on Brent fell by 0.5% to $76.38 per barrel, while July futures for WTI rose 0.1% to $65.86 per barrel.

"The main driver is supply risk - the risk of interruptions in deliveries from Iran and Venezuela," said the head of the department of strategy in the commodity market at BNP Paribas, Harry Chilingunyan.

President of the United States Donald Trump in May decided to resume sanctions against Iran. Analysts estimate that due to US sanctions, oil supplies from Iran abroad may be reduced from 400,000 barrels per day (b/s) to 1 million b / s from the current level of about 2.4 million b/s.

Meanwhile, new US sanctions against Venezuela may further reduce production in the country.

According to the International Energy Agency, oil production in Venezuela in April fell by 50 thousand b/s relative to the previous month and was 1.42 million b/s. According to the Joint Organization Data Initiative (JODI), in March production dropped to 1.509 million b/s of oil compared to 2.241 million b/s for the same month last year.

The raw strategy strategist of ING Bank, Warren Patterson, expects further cuts in oil production in Venezuela - to about 1.2 million b/s.

At the same time, he urges investors not to forget that the OPEC states and Russia can gradually abandon oil production restrictions and this decision will put downward pressure on prices.

The rapid growth of oil production in the US shale deposits will also restrain the growth of prices at the world level.

Due to the expected actions of OPEC+ and oil shale oil, Wall Street investment banks expect a slight decline in prices in 2019 - up to $68 per barrel for Brent and up to $64 for WTI.

#financemagazine #news #oil #experts

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All major cryptocurrencies increased in price

In particular, over the past 24 hours, Bitcoin has risen by 5.63% to $7.5 thousand, Ethereum by 9.45% to 574, Ripple by 11.33% to $0.6209, Bitcoin Sash to 14.26% to 1 thousand dollars, EOS by 11.78% to 12 dollars.

Bitcoin's capitalization is 128.5 billion dollars, Ethereum 57.2 billion, Ripple 24.3 billion, Bitcoin Sash 17.4 billion, EOS 11 billion dollars.

The volume of operations for the past day amounted to Bitcoin 5.8 billion dollars, Ethereum 2.3 billion, Ripple 0.4 billion, Bitcoin Sash 0.7 billion, EOS 1.7 billion dollars.

Always keep abreast of the latest news in the world of finance and investment, along with the Financial Magazine! Stay in touch!

#financemagazine #news #cryptocurrencies

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Authorities of the UAE will allow foreign companies to own 100% of their own subdivisions in the country

The UAE authorities approved a number of measures designed to attract more foreign investment in the country's economy.

In particular, they intend to allow foreign companies to own 100% of their units in the UAE, and are also ready to issue long-term visas to some investors and professionals.

Approved measures will begin to operate at the end of this year. They are an important departure of the authorities from the current policy limiting the share of participation of foreign investors in local companies outside the free zones in the country.

Currently, foreign companies wishing to conduct business in the UAE outside the trading zones should create partnerships with local players that must own at least 51% of the joint venture.

In the UAE, as in most other countries of the Persian Gulf, a significant part of the 9 million population is accounted for by foreign workers working in the country, who send part of their earnings abroad.

According to WAM, in 2017 the amount of money they sent abroad amounted to 164 billion dirhams ($45 billion).

The new rules provide for the issuance of visas for up to 10 years to specialists in medicine, technology, and scientific research, as well as visas for up to 5 years for students.

#financemagazine #news #marketnews #uae
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