The European Union introduces a new standard for harmful emissions at the level of 95 grams of CO2 per kilometer traveled, which automakers will adhere to starting in 2021. By this time, the largest automakers in Europe should reduce emissions by about 20% from today's levels. According to analysts at UBS, automakers' spending on these goals will reduce their profits by 7,400 million euros. UBS calculations showed that Peugeot could suffer the greatest losses, profits of which would be reduced by 25% per share. Earnings per share for Fiat Chrysler will be 20%, for Volkswagen - 13%, for Renault - 10%. The new rules provide for non-compliance with this norm fines of 95 euros for each exceeding gram of CO2, multiplied by the number of cars sold in Europe.
S&P and Nasdaq close on record gains amid hopes on new China stimulus19.02.2020
New York Fed: U.S. shoppers suspect spending growth slowdown18.02.2020
HSBC reports 2019 annual profit, falls 33% short of forecasts18.02.2020
Alibaba extends help to firms hit by coronavirus spread, offers $2.86 billion in loans