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(Reuters) The consequences of the Corona crisis slowed tax revenues in Germany for the first time in March. Revenue fell within a year by 1.8 percent to 69.6 billion euros, as announced by the German Finance Ministry in its monthly report on Tuesday.
This means that there is still a 3.5 percent increase for the entire first quarter. “But the big economic impact of the closure, which started in Germany in mid-March, will visibly affect tax revenues in the coming months.”
Aviation tax revenue fell nearly 57 percent in March. Airlines have greatly reduced flight operations due to worldwide travel restrictions and declining demand.
To cushion the negative consequences of the coronavirus crisis on the economy, the German government has put together various aid packages. This ensured a supplemental federal budget of more than 156 billion euros.
In late March, the car rental company Hertz offered health workers in New York free car rental.
(Reuters) American car rental company Hertz Global is laying off about 10,000 employees at its North American business. “Like the rest of the global travel sector, the COVID-19 crash in Hertz came suddenly,” said managing director Kathryn Marinello.
To cut costs as a result of the economic crisis, the layoffs would be effective April 14 for union workers and April 21 for union workers, the car rental company said.
The official filing shows that employees have $ 30 million in severance pay. The company hopes to recruit as many former team members as possible as global travel demand picks up.
The IBM technology group has also suffered setbacks due to the crown crisis.
(dpa) The technology group IBM suffered significant business losses in the first quarter of 2020. Due to the Corona crisis, the group canceled its annual forecast.
In the first three months of the current fiscal year, revenue fell 3.4 percent on-year to $ 17.6 billion (CHF 17.1 billion), as announced Monday after the close of the US market. Profits fell a good quarter to $ 1.2 billion. Investors reacted cautiously: stocks fell slightly in the past few hours, although overall results were in line with expectations.
IBM has weakened in the traditional core hardware business with servers and mainframes for a long time, but is still experiencing strong growth in the cloud sector with Internet IT services.
His former boss, Arvind Krishna, recently took over as IBM’s CEO (CEO) from Ginni Rometty. In his tenure since 2012, he had attempted to reorganize IBM through a deep corporate shift to new business areas, such as cloud services, data analytics, and artificial intelligence. So far, however, success has been limited, quarters with business growth have been rare for years.
Owners of VW diesel vehicles must receive up to 6,250 euros.
(awp / sda / dpa) The automaker Volkswagen agreed to a comparison in the exhaust gas scandal with around 200,000 diesel drivers. In total, around 620 million euros will be paid, as announced by VW on Monday.
The sum consists of individual amounts from 1,350 to 6,250 euros, to be paid from May 5. In around 21,000 cases, the final exam is still pending. Additionally, the deadline for new registrations and the addition of missing documents, which must end on Monday, was extended until April 30.
The automaker had agreed earlier this year with the Federal Association of Consumer Centers (vzbv) on the comparison. The agreement stipulates that consumers affected by the diesel scandal will receive compensation for the loss of value of their vehicles.
However, the commitment only applies to those diesel drivers who have joined the so-called model declaratory action. “The high number of comparisons made today shows that our customers perceived that the comparison offer was fair and that the path to concluding the individual agreement worked well,” said Hiltrud Werner, VW board member.
Still parked: American Airlines Boeing 737 Max.
(awp / sda / dpa)
The newly ill American aviation group Boeing has to accept an order for the steering wheel of the 737 Max problem in the crown crisis. The China Development Bank Financial Leasing Co. has canceled an order for 29 machines, the Chinese company said on Monday. As a result, the number of open orders for the Boeing 737 Max aircraft fell to 70.
Boeing is losing more and more orders with its Crisis Jet 737 Max, which is prohibited from taking off after two devastating accidents. In the first quarter, 314 orders for the model were withdrawn. The coronavirus pandemic has made Boeing’s situation even more difficult in recent months.
