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Roula Khalaf, editor -in -chief of the FT, selects her favorite stories in this weekly newsletter.
BMW has declared a 25% drop in profits because it adapts to new world rates and strong competition on the Chinese market.
However, the automaker has maintained its annual forecasts according to which the profits will largely correspond to that of last year, claiming that it provided that certain world rates would be canceled from July.
THE business said on Wednesday that its profits before tax in the first quarter reached 3.1 billion euros – 25% over the same period last year.
He added that the EU anti-subsidian rate on Chinese Imports of Electric Vehicles has successfully completed the revenues with an “intention of million dollars”: it is important to the cars it sells in Europe from China.
Adjusted for foreign currency fluctuations, revenues dropped 9% to 33.8 billion euros, which the company mainly attributed to an increasingly competitive Chinese market.
