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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Boeing has grounded up to 50 planes globally over cracks, Agence France Presse https://bit.ly/3238KJC news agency reported on Thursday.
China's commerce ministry said on Thursday that Beijing and Washington will proceed with the bilateral trade negotiations according to plan and that the talks are progressing well.
The U.S. Justice Department on Wednesday struck a deal to recoup $1 billion in funds allegedly looted from a Malaysian state investment fund by fugitive financier Jho Low, in a record capture for a U.S. anti-corruption probe.
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.
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.