The chief executive of Swiss bank Credit Suisse will not attend a Saudi investment conference this month, a source familiar with the situation told Reuters on Tuesday.
German premium car brand Audi, a division of Volkswagen , said it was fined 800 million euros ($927 million) on Tuesday for violations tied to heavily polluting six- and eight-cylinder diesel engines.
German carmakers only have a 50 percent chance of surviving as leading players in the auto industry unless they transform their businesses to meet new regulations and adapt supply chains, Volkswagen’s chief executive said on Tuesday.
World stocks nudged higher on Tuesday, as focus turned to earnings season and a rebound in Italian assets helped battered equities find firmer ground for now.
U.S. President Donald Trump cannot bring oil prices down by “bullying” other nations, Iran’s oil minister said on Tuesday, adding that the market was suffering from short supply.
Sweden’s Volvo said on Tuesday an emissions control component used in its vehicles was degrading more quickly than expected, which could cause engines to exceed emission limits for nitrogen oxides, sending its stock down sharply.
Germany’s carmakers only have a 50 percent chance of surviving as leading players in the auto industry unless they transform to meet new regulations and adapt their supply chains, Volkswagen Chief Executive Herbert Diess said on Tuesday.
The U.S. government closed the 2018 fiscal year $779 billion in the red, its highest deficit in six years, as Republican-led tax cuts pinched revenues and expenses rose on a growing national debt, according to data released on Monday by the Treasury Department.
Germany’s carmakers only have a 50 percent chance of surviving as leading players in the auto industry unless they transform to meet new regulations and adapt their supply chains, Volkswagen Chief Executive Herbert Diess said on Tuesday.
Beijing is keen to show results after four rounds of policy easing, so China’s big banks are playing along, highlighting their efforts to boost lending to cash-starved small firms, offering collateral waivers and setting loan targets.
Asian stocks rose modestly on Tuesday, gaining a firmer footing after a week of heavy losses, although cooling factory-gate inflation in China and increasing tensions between Saudi Arabia and the West have capped gains.
At week’s end, global investors and policy makers will likely be given a stark reminder of the costs of a bitter Sino-U.S. trade war, with a Reuters poll predicting that China’s third-quarter growth will slow to its weakest pace since the global financial crisis.
U.S. carmaker Ford Motor Co unveiled a new China sport utility vehicle (SUV) on Tuesday, and said its plan to release a spate of new models will help turn around tumbling sales in the world’s top auto market from the start of next year.
Asian stocks rose modestly on Tuesday, gaining a firmer footing after a week of heavy losses, although increasing tensions between Saudi Arabia and the West have fanned geopolitical concerns and capped gains.
The United States is seeking to impose quotas on Mexican steel exports as part of a negotiation to remove metals tariffs, the chief trade negotiator of Mexico’s incoming government said on Monday, adding the issue needed to be resolved within weeks.
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