World stocks took a hit on Friday as China moved to impose a new security law on Hong Kong after last year’s pro-democracy unrest, further straining fast-deteriorating U.S.-China ties.
Oil fell over 5% on Friday towards $34 a barrel as tensions rose between the United States and China, and doubts grew about the pace of demand recovery from the coronavirus crisis.
Renault could disappear if it does not get help very soon to cope with the fallout from the coronavirus crisis, France’s Finance Minister Bruno Le Maire said on Friday, while adding the carmaker also needed to adapt to the situation.
The banks that lent $518 million to Luckin Coffee Chairman Charles Zhengyao Lu have started court proceedings to liquidate his private company, a government gazette for the British Virgin Islands showed.
Oil prices fell on Friday as tensions rose between the U.S. and China and as Beijing failed to set target for economic growth this year, stoking concern that the coronavirus pandemic will overshadow fuel demand in the world’s second-largest oil user.
France’s Finance Minister Bruno Le Maire said on Friday that Renault could disappear if it does not get help very soon to cope with the fallout from the coronavirus crisis, while adding that Renault also needed to adapt to the situation.
China’s biggest automaker SAIC Motor expects the nation’s auto sales to post year-on-year growth in the second quarter due to recovering demand and supportive policies, its chairman said on Friday.
Nissan Motor Co is considering cutting 20,000 jobs from its global workforce, focusing on Europe and developing countries, Kyodo news reported on Friday, as the Japanese automaker struggles to recover from plunging car sales.
Global shares tumbled on Friday as Hong Kong’s political unrest returned as a flashpoint in fast-deteriorating U.S.-China relations, following Beijing’s moves to impose a new security law on the city.
Vodafone , the world’s second-biggest mobile operator, has recruited Jean-Francois Van Boxmeer, the current CEO of brewer Heineken , to succeed Gerard Kleisterlee as chairman from November this year.
Nvidia (NVDA) has posted stellar earning results for the fiscal first quarter, although shares moved marginally lower in Thursday’s after-hours trading due to weaker-than-expected guidance. Income doubled from the same period last year, with Q1 Non-GAAP EPS of $1.80 beating the Street by $0.12, and GAAP EPS of $1.47 also topping expectations by $0.10.Revenue of $3.08B represented a 39% year-over-year gain, while also easily beating estimates by $80M. Most notably, gaming rose 27% to $1.34B and Data Center shot up 80% to hit $1.14B.At the same time Nvidia announced that it completed its $7 billion acquisition of Mellanox Technologies on …read more […]
Pharmaceutical group Roche has acquired U.S.-based Stratos Genomics to further develop DNA-based sequencing for diagnostic use, it said on Friday.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
