Toyota Peugeot Citroen Automobile (TPCA) has once again extended its production shutdown. The company will now restart production on May 25. Initially, production was scheduled to restart on May 18. The company says low demand due to coronavirus restrictions promoted the extension of the shutdown. The company will operate at 100 percent capacity upon resuming […]
Tatra Trucks generated an operating profit before depreciation (EBITDA) of CZK 365 million crowns in 2019, following a down year in 2018 when the company posted losses of CZK 69 million. The company also increased revenue by over two billion year-on-year to CZK 5.88 billion. Pavel Lazar, CEO of Tatra, says strong second-half sales and […]
Daniel Kretinsky bought a 5% stake in Macy’s Inc, making Vesa Equity one of the top five shareholders of Macy’s. Kretinsky plans to engage management on ways to improve performance of the struggling U.S. retailer, Bloomberg reports. Shares of Macy’s were over $18 earlier this year, but have been falling sharply since mid-March due to […]
EPH plans to replace its coal-powered plant at Kilroot in Northern Ireland with a low-emission gas unit after securing a ten-year contract to supply the transmission grid. Thus ending the company’s use of coal in Britain. EPH consists of two main pillars – EP Infrastructure (EPIF) and EPPE. EPIF brings together EPH companies engaged in […]
Czech Airlines (ČSA) will resume operations on four routes beginning 18 May to Paris, Frankfurt, Stockholm, and Amsterdam. The company expects to add additional routes as conditions allow in the following weeks. Due to the coronavirus pandemic, the company stopped all scheduled flights to and from the Czech Republic in March. CSA joins several carriers […]
The coronavirus pandemic has decimated sales of new automobiles in the Czech Republic. The Association of Car Importers reports a 53 percent drop in April sales due to coronavirus restrictions and lower demand. Over the first four months of the year, sales slid 26.3 percent to 60,873 cars sold.Electric and hybrid sales increased year-over-year, while […]
Iveco Bus Czech Republic has resumed production. Iveco halted production on 30 March due to supply chain disruptions caused by the coronavirus pandemic. The company had to extend its production stoppage twice in April due to shortages of parts from suppliers affected by coronavirus restrictions. Iveco Bus, located in Vysoké Mýto, is one of the […]
The Agrofert Group will shutdown the Penam United Bakeries subsidiary Delta bakery in Brno in September. The company announced plans to make up to 160 staff redundant, and sell off the assets. United Bakeries bought the company last year. United Bakeries plans to lay off up to 160 people but will put some staff to […]
Unemployment in the Czech Republic jumped to 3.4 percent in April up from 3.0 percent in March. “The numbers are still very decent. However, this does not mean that we can rejoice prematurely. The coming weeks will show the extent to which the number of unemployed can increase. We expect the biggest breakthrough at the […]