In order to stay up to date with the latest business news from around the world, simply continue reading. As you’ll get to learn about the soaring wealth of Amazon founder Jeff Bezos, the continued success of Tesla and South Korea’s economic recession.
Business News Worldwide:
Tesla continues to grow despite the economic consequences of the Coronavirus pandemic:
Tesla’s share price has continued to increase, despite the economic consequences of the Coronavirus pandemic. In fact in the three months leading to the 30th of June, 2020, Tesla earned $104 million dollars. Furthermore Tesla has enjoyed four consecutive periods of growth. An enviable feat.
Tesla’s owner and founder Elon Musk, claims that Tesla will continue to grow from strength to strength and has numerous new factories in the works. One of which be located near Austin Texas. Although Tesla has also opened a factory in China, where production costs are lower than the United States.
South Korea enters a recession:
As a result of South Korea’s export industry suffering a 57 year low, South Korea has officially entered a period of economic recession. This is mainly due to the fact that exported products usually make up 40% of the country’s GDP. Other countries in Asia to enter periods of recession, following the Covid-19 pandemic include Japan and Singapore. In order to try and reverse the economic damage of Covid-19, South Korea has spent 277 trillion won or $231 on stimulus packages for South Korean businesses and industries.
Jeff Bezos added 13 billion dollars to his net worth in one day:
Jeff Bezos the richest individual in the world, aged to add 13 billion dollars to his net worth, in a single day. In total Bezos’ net worth has reached $189 billion dollars. A sum which is 30 times the Queen of England’s personal net worth. Furthermore Bezos’ net worth has risen $74 billion since since January.
Bezos, is the owner and founder of Amazon, which has flourished around the world during the Coronavirus pandemic. As more individuals turned to online shopping to purchase the items they need, instead of visiting brick and mortar stores.
Qantas sends its last Boeing 747 to the graveyard:
As a result of the Coronavirus Pandemic, Australia’s national airline Qantas has sent its last Boeing 747 to the graveyard, which is located in the Mojave Desert.
So if you enjoy keeping up to date with the latest business news hopefully you enjoyed reading about all the current international business stories which were listed above.