Business & Finance News
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.
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.
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.
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.
Boeing has grounded up to 50 planes globally over cracks, Agence France Presse https://bit.ly/3238KJC news agency reported on Thursday.
Leaders from the United States and China encountered a new obstacle in their struggle to end a damaging trade war on Wednesday, when the summit where they were supposed to meet was canceled because of violent protests.
Factory activity in China shrank for the sixth straight month in October and by more than expected, while service sector growth eased as firms grapple with the weakest economic growth in nearly 30 years.
Samsung Electronics warned of a smaller mobile business profit on Thursday as its rival Apple gave a positive iPhone sales outlook, dampening hopes new models will help the world’s largest smartphone vendor finally get back on a growth track.
Airlines have completed one round of checks triggered by engine failures on the Airbus A220 and have found no faults, an executive at engine maker Pratt & Whitney said on Thursday.
Canada’s Bombardier is in advanced talks to sell three facilities, including its Belfast wing-making plant, to Spirit AeroSystems for more than $1 billion in cash and assumed liabilities, two sources familiar with the matter told Reuters on Thursday.
Chinese officials voiced optimism that Beijing and Washington can find a way to clinch the so-called Phase One trade deal next month, despite the abrupt cancellation of the summit where the heads of state were to meet to formally sign the deal.
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