Morning Beat: Volkswagen AG (ADR) (OTCMKTS:VLKAY) and Amazon.com, Inc. (NASDAQ:AMZN)
Volkswagen AG (ADR) (OTCMKTS:VLKAY) market share continues to drop in Europe as the emission scandal continues to cause havoc. The automaker sales accounted for 24% of new auto registrations in February, a 1.4% drop from last year. The decline represented the sixth consecutive month of market share loss.
Industry wide sales rose 14% in the month to 1.09 million units, even as Volkswagen continued to lose ground. A sales decline is not the only problem the automaker is facing at the moment. The German automaker is racing against time to fix 8.5 million diesel cars fitted with cheat devices in Europe.
Amazon.com, Inc. (NASDAQ:AMZN) is making it easy for companies to move their databases to Amazon Web services. The cloud market leader has launched a new service that it says will allow firms to set up their migrations in under ten minutes.
AWS Database Migration Service has been officially launched five months after the tech giant unveiled it. The service is up and running more than 1,000 databases having been migrated to AWS since the start of the year.
The likes of MySQL and Oracle should be worried as Amazon.com, Inc. (NASDAQ:AMZN) is encouraging more companies to make the switch. The cost of migration varies depending on the amount of data one is transferring. The lowest plan goes for $3 per terabyte.
Deutsche Boerse and London Stock Exchange have agreed to merge as they strive to create a European trading powerhouse. The $30 billion deal according to the two will result in annual cost savings of about $500 million.
Deutsche Boerse shareholders are to own 54.4% of the combined company with LSE shareholders controlling the remaining 45.6%. The milestone agreement comes 16 years after Deutsche Boerse first tabled a takeover bid for LSE
By merging as equals, the two hope to fend off US rivals who continue to eye similar deals in the region. New York Exchange had initially hinted at the possibility of tabling an offer for the British group.
OPEC and non-OPEC members are to meet on April 17 as they look to prevent a further slump in oil prices. The meeting will be a follow-up of another one held last month, where four major producers agreed to freeze production at January levels. Oil Prices have since rallied close to the $40 a barrel, a momentum the producers want to maintain.
The April 17 meeting should draw in 15 oil producers that account for about 73% of the total global oil output. A deal on further output freeze could be reached at the meeting according to Russian Energy Minister. Any deal, however, is expected to exclude Iran, which is trying to boost its production after years of sanctions.
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