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Business news: companies, markets, investment climate, taxes and opportunities for entrepreneurs.
Ferrexpo suspended production in Ukraine due to shelling of the energy sector
The mining company Ferrexpo temporarily stopped production in Ukraine - due to strikes on the energy supply, the electricity supply became unstable. Assets are not damaged, deliveries to Europe will be covered from stocks of finished products.
Shares of Nvidia fell 6% due to the scandal surrounding Huang's personal life
Nvidia shares fell in premarket trading after news of CEO Jensen Huang's extramarital affair with a businesswoman suspected of spying for China prompted an internal investigation.
Puma shares up 8% after quarterly report: company cuts inventory by 24%
German sportswear manufacturer Puma posted sales results that beat analysts' expectations and significantly reduced inventory. Against the background of positive signals about the recovery of business, the company's shares showed the biggest daily increase since February.
State guarantees have helped businesses get loans worth UAH 213.3 billion since the beginning of the war
Since the beginning of the full-scale war, Ukrainian entrepreneurs have received more than 53,000 loans, partially secured by state guarantees, for a total amount of UAH 207.7 billion. In total, since the launch of the program, banks have issued 58,608 loans worth UAH 213.3 billion to micro, small and medium-sized businesses. The largest volumes of lending are in Kyiv, and trade, processing industry, and agriculture are the leading sectors.
Poland exported €14.1 billion worth of goods to Ukraine: the trade surplus reached €9.7 billion
Polish exports of goods to Ukraine increased by approximately 169% compared to the end of 2020. Supplies of energy resources, electricity, weapons and aviation equipment increased the most. At the same time, the import of Ukrainian goods to Poland also grew, but much more slowly.
Parcels from AliExpress and Temu will be subject to VAT at 20%: when the new rules come into effect
The Verkhovna Rada adopted a draft law that provides for the cancellation of tax relief for international parcels worth up to €150. Purchases on foreign marketplaces, including AliExpress and Temu, plan to tax VAT at the rate of 20%. The new rules should come into effect on July 1, 2027, and the received funds are planned to be directed to the needs of the Armed Forces of Ukraine.
89% of companies in the world are already benefiting from AI: how much business plans to invest in technology
The use of artificial intelligence in business continues to grow, and companies increase their budgets for technology development. At the same time, most organizations still do not have a systematic approach to evaluating the return on investment.
Apple accused OpenAI of misappropriating trade secrets: former partners met in court
The conflict between Apple and OpenAI has entered an open court phase amid intensifying competition in the field of artificial intelligence and the development of personal devices. The iPhone maker claims that developer ChatGPT may have illegally obtained confidential data about product design and manufacturing processes. OpenAI denies the allegations and considers the lawsuit an attempt to limit the transfer of specialists between companies.
AI developers are preparing for a possible large-scale cyberattack: why the industry fears new restrictions
Leaders of leading artificial intelligence companies are modeling scenarios of a large-scale crisis that could cause public opposition to the technology and accelerate its government regulation. Some industry insiders estimate that a major incident could occur within the next 6-12 months, but this is a prediction, not a proven fact.
The tax official explained who from the FOP can work on a single tax: conditions for 1–3 groups
FPOs can choose a simplified taxation system, but for each group there are separate requirements regarding the number of employees, types of activities and marginal income. The Tax Office also defined a list of entrepreneurs who are prohibited from working on a single tax. The main administration of the DPS in the Poltava region clarified the rules for the stay of natural persons-entrepreneurs on the simplified taxation system and the conditions for working in the first, second or third group of the single tax.
EVA lost up to UAH 1 billion due to the destruction of the distribution center in Brovary
The Russian strike on Brovary completely destroyed one of the large distribution centers of the EVA network. The preliminary assessment of the company's losses may reach UAH 1 billion. Ruslan Shostak, co-owner of Rush LLC, which manages the EVA network, announced this. According to him, the workers were not injured during the attack. At the same time, the destruction of the warehouse was another serious blow to the Ukrainian retail infrastructure, which ensures the supply of goods to stores throughout the country.
LEGO demanded more than €110,000 from Ukrainian FOPs for legal costs due to counterfeiting
The Danish LEGO company won a court case against Odesa entrepreneurs who sold Chinese counterfeits of constructors through an online store. The right holder succeeded in banning the sale of counterfeit products, their seizure and destruction, as well as recovery of income received from illegal trade. At the same time, the case attracted attention due to the amount of the claimed compensation for legal services: LEGO demanded about €110,000 from the defendants, while the value of the income from the sale of fakes, established by the court, was only UAH 7,225.