Fiat Chrysler and Peugeot owner PSA plan to join forces through a 50-50 share swap to create the world’s fourth-largest automaker, they said on Thursday, triggering a new wave of consolidation in the car industry.
Oil prices rose on Thursday as investors banked on more economic stimulus by China after weak PMI data, partly recovering from losses in the previous session on a much larger than expected build in U.S. crude stocks.
Qantas Airways Ltd and Southwest Airlines Co are stepping up checks for structural cracks on Boeing Co 737 NGs after discovering problems with planes that did not require urgent inspections, airline sources said.
(Bloomberg) — If European equities can keep their current gain of 18%, then 2019 will be the best year in a decade for the benchmark. The sector rotation that started in late August has extended into October and the shift in market leadership may bode well for Europe. But November is usually a shaky month for stocks and the U.K. general election, trade talks and doubt about Fed policy direction could bring back some volatility.Altaira Wealth technical and market analyst Ralph Acampora sees the change in market leadership, and recent index breakouts in the U.S. and Europe, as positive, and …read more […]
China’s Foreign Ministry said on Thursday that the Chinese and U.S. heads of state have been maintaining contact through various means on trade negotiations.
Auto sales in China may skid to 26 million this year, a drop of around 8%, a senior industry executive warned, as the world’s largest auto market braces for a second year of contraction amid slowing economic growth and tighter vehicle emissions standards.
Fiat Chrysler and Peugeot’s owner PSA said on Thursday they would join forces through a 50-50 share swap to create the world’s fourth-largest automaker.
Fiat Chrysler and Peugeot’s owner PSA said on Thursday they would join forces through a 50-50 share swap to create the world’s fourth-largest automaker.
France welcomed a planned merger between Italy’s Fiat Chrysler and French Peugeot maker PSA , but would be vigilant about the firm’s French industrial footprint and about maintaining its decision centers, French Finance Minister Bruno Le Maire said in a statement on Thursday.
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like… …read more […]
Fiat Chrysler and Peugeot’s owner PSA said on Thursday they would join forces through a 50-50 share swap to create the world’s fourth-largest automaker. The boards of the two groups have mandated their respective teams to finalise discussions and reach a binding memorandum of understanding in the coming weeks, the two automakers said in a joint statement. Fiat Chrysler (FCA) will pay its shareholders a 5.5 billion euro ($6.1 billion) special dividend and hand them its shares in its robot-making unit Comau, they said. …read more […]
Beijing could remove extra tariffs imposed since last year on U.S. farm products to ease the way for importers to buy up to $50 billion worth, rather than direct them to buy specific amounts, the head of a government-backed trade association said.
BEIJING/SINGAPORE (Reuters) – Sinopec Corp, Asia’s top refiner, posted a 35% fall in third-quarter net profit versus a year earlier, according to Reuters calculations based on a company filing, dragged down by narrowing refining margins and weaker global oil prices. The decline follows the launch of two privately owned mega-refineries and the expansion of other major refining plants, which added to the fuel surplus in China’s refined oil market, slashing profit margins for oil processors. Sinopec reported 11.94 billion yuan ($1.69 billion) net earnings for the July-September period, down just over a third from the same period …read more […]
Two of Hong Kong’s biggest banks on Thursday cut their key benchmark rates in the city, their largest market, which is bracing for its first recession since the global financial crisis following months of protests.
Asian shares jumped on Thursday to a three-month high and the dollar fell broadly after the Federal Reserve cut interest rates as expected and U.S. Treasury yields declined.
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