Brent oil slipped to around $71 a barrel on Tuesday, pressured by expectations of higher U.S. inventories and concern about Russia’s willingness to stick with OPEC-led supply cuts.
China’s China Changan Automobile Group expects sales at its joint venture with Ford Motor Co to rebound at the end of this year as the U.S. automaker boosts its China product line, Changan’s president said on Tuesday.
Luxury carmaker Rolls-Royce expects to achieve double-digit sales growth in China this year, although it will be lower than the 40 percent rate it saw in 2018, its chief executive said on Tuesday.
The management of India’s Jet Airways has proposed to suspend all operations of the debt-laden airline at its board meeting, ET Now reported on Tuesday quoting sources.
Asian stocks ticked up on Tuesday, staying near a nine-month high as hopes of stabilization in the Chinese economy helped investors shrug off Wall Street’s underperformance that followed disappointing bank earnings.
Lufthansa reported an operating loss of 336 million euros ($380 million) for the first three months of the year, hurt by rising fuel costs and overcapacity in Europe, sending its shares down 5 percent in pre-market trade.
Foxconn’s Chairman Terry Gou said on Tuesday he is considering whether to run for Taiwan’s 2020 presidential election, a day after Reuters reported the tycoon planned to step down from the world’s largest contract manufacturer.
CWT International Ltd, a unit of indebted HNA Group Co Ltd, on Tuesday said it defaulted on a HK$1.4 billion ($179 million) loan, and that it has less than 24 hours to pay funds due or lose assets pledged as collateral.
Germany’s biggest airline Lufthansa posted a loss for first three months of the year, hurt by rising fuel cost and overcapacity in Europe.
The Supreme Court of the Netherlands dismissed Ecuador’s attempts to annul decisions of an international arbitral tribunal that ordered Ecuador to prevent enforcement of a $9.5 billion judgment against Chevron Corp anywhere in the world, the U.S. oil major said on Tuesday.
Daimler’s China chief said sales rose 3 percent in the first quarter, defying an overall downturn in demand in the world’s biggest car market, thanks to robust demand for ultra luxury vehicles like the Mercedes S-Class Maybach.
Oil prices edged down on Tuesday after a Russian minister said the nation and OPEC may boost crude output to fight the United States for market share, checking a recent rally driven by tighter global production.
Foxconn’s Chairman Terry Gou said on Tuesday he is considering whether to run for Taiwan’s 2020 presidential election, a day after Reuters reported the tycoon planned to step down from the world’s largest contract manufacturer.
Terry Gou, the chairman of Taiwan’s Foxconn, the world’s largest contract manufacturer, plans to withdraw from the daily operations of the company and is considering running for president.
BMW Chief Financial Officer Nicolas Peter said the Bavarian carmaker has no plans to develop a compact vehicle together with a rival German carmaker.
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