Apple has its investors for the first time warned that the EU investigation of the Irish tax system could lead to a billion-dollar burden on the company. The EU Commission can Ireland calling to demand payment of taxes for up to ten years.
Live from the floor of the Frankfurt Stock Exchange
VW cites two Supervisory Board successor to Piëch resignation
14.12 Clock: Louise Kiesling and Julia Kuhn Piëch draw as a new Supervisory Board members to the Supervisory Board at Volkswagen. The two back to the on Saturday retired couple Ferdinand and Ursula Piëch, such as Volkswagen AG announced on Thursday.
Dax stabilizing after the previous day slip
13.59 Clock: The situation on the German stock market remains tense after the previous day’s slide of Dax. The German index fluctuated between gains and losses on Thursday. Around noon, the stock market barometer was 0.04 percent higher at 437.34 points 11.
For the index of medium-sized values MDax it was, however, by 0.27 percent to 20 287.17 points down and the TecDAX fell by 0.22 percent to 1601.37 points. The Euro Stoxx 50 as the benchmark index of the euro zone fell moderately.
After the impressive rally in the German stock market in recent months, a respite also do want, said analyst Gregory Kuhn from broker IG. On Wednesday a significant recovery in the euro had shaken the German stock market vigorously. At the end of Dax buckled by more than 3 percent. In the months before the weak euro had this country inspires exchanges because export-oriented companies benefit when their goods are cheaper in countries outside Europe.
Apple warns of potential billion-tax payments in Ireland
12.05 Clock: Apple has its investors for the first time warned that the EU investigation of the Irish tax system to could cause multi-billion dollar burden on the company. The European Commission could call on Ireland to demand payment of taxes for up to ten years, the iPhone Group wrote in his detailed report for the last quarter. Apple is currently unable to estimate the possible amount. In previous reports, Apple had only a reference to the ongoing review and possible charges.
The “Financial Times” that tracked the altered formulation as the first, pointed out that according to US regulations usually as much (“Material”) costs by more than five percent of the average pre-tax profit of the last three years, would be defined. In the case of Apple going to this rule of thumb is at least $ 2.5 billion concluded the newspaper.
Nokia surprises with strong revenue growth – margins under pressure
10.58 Clock: If the network equipment Nokia prior to the planned merger with the Franco-American rival Alcatel-Lucent vigorously risen. Sales rose in the first quarter year on year thanks to favorable exchange rates by 20 percent to EUR 3.2 billion, as the company announced on Thursday. Bottom line, Nokia was able to record 177 million euro profit a year ago, 239 million euro loss were incurred.
The core business of equipment especially for mobile networks laid in revenues by 15 percent. However, the operating income margin was under pressure because Nokia sold among other less software for cell phones and took on a bulk order discounts in purchasing. Adjusted earnings in the network division melted by 61 percent to 85 million euros together. In the network equipment Nokia will be using the 15.6 billion-euro acquisition of Alcatel-Lucent the world leader.
5000 postal workers meet again in warning strikes
10.15 clock: In the labor dispute at the post office in order to shorten the weekly working hours makes the union with further strikes pressure on the employer. On Thursday nationwide with the beginning of the morning shift 5000 parcel and letter delivery as well as employees who work laid down a limited period in the mail processing, announced Verdi. The Deputy National Chairman Andrea Kocsis Verdi called the mail on to address the wage demand. In the night of Thursday postal workers had already strike the International Mail Centre at Frankfurt Airport.
Verdi demanded by the post, a reduction in working time from 38.5 to 36 hours a week. Background is the construction of another delivery network by establishing 49 regional companies in the parcel business. Verdi sees this as a breach of existing collective agreements on the prohibition of outsourcing to internal or external companies.
Investors remain nervous – Dax are on to
09.50 Clock: The investors in the German stock market remain after the previous day’s slide of Dax nervous. The German leading index turned on Thursday after initial gains quickly into the red and was last 0.13 percent lower at 417.54 points 11.
Chart expert Franz-Georg Wenner from market statistics Magazine Index radar looks after the minus mid-week a direction decision. The risk of further losses is much higher, although a crash is not to be feared he wrote in a morning commentary.
For the index of medium-sized values MDax it went on Thursday to 0.50 percent to 20 240.84 points down and the TecDAX fell by 0.98 percent to 1589.20 points. The Euro Stoxx 50 as the benchmark index of the euro zone lost around half a percent
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