Ford’s China ventures increase May sales as market rebounds
Ford Motor’s China ventures have reported year-on-year sales growth for May in a sign of how the world’s biggest auto market is continuing its recovery from coronavirus-induced lows.
LVMH says it is not considering buying Tiffany shares via the market
LVMH said on Thursday it did not plan to buy shares in Tiffany on the market, which would be one way for the French luxury goods group to buy the U.S. jeweller for less than the $16.2 billion agreed in last year’s acquisition deal.
Adidas says China sales back to growth faster than expected
German sportswear firm Adidas said on Thursday that sales had returned to growth in greater China faster than it had expected after the coronavirus lockdown, while the reopening of business in Europe and the Americas was going more gradually.
German auto stimulus to boost Volkswagen’s electric push
Germany unveiled sweeping incentives for cheap electric cars and for hybrid vehicles, providing a boost to Volkswagen’s electric push while staggered taxes for polluting combustion-engined cars will penalise sports utility vehicles.
Pandemic exposes cracks in oil majors’ bet on plastic
The energy industry’s bet that a petrochemicals boom would support decades of oil and gas sales growth is on shaky ground as an already saturated plastic market is hit by a coronavirus demand shock.
Carnival’s Princess Cruises extends suspension of some voyages
Carnival Corp’s Princess Cruises on Thursday extended the suspension of some of its voyages in Australia, Canada and Taiwan as ports around the world remain shut due to the coronavirus crisis.
HSBC, StanChart shares rise as support for China law eases Hong Kong impact worries
Hong Kong shares of HSBC and Standard Chartered rose on Thursday after the banks backed China’s national security law for the city, allaying worries about their businesses getting hurt by any potential political crossfire in their largest market.
China eases flight curbs after United States targets its carriers
China will ease coronavirus restrictions to allow more foreign carriers to fly to the mainland, shortly after Washington vowed to bar Chinese airlines from flying to the United States due to Beijing’s curbs on U.S. airlines.
U.S. airlines gain final approval to drop services to 75 domestic airports
Fifteen U.S. airlines were granted final government approval on Wednesday to temporarily halt service to 75 domestic airports as travel demand has been crushed due to the coronavirus pandemic.
Exclusive: Rosneft replaces sanctioned trading arm with new one – sources
Russia’s Rosneft , which closed its oil trading arm after sanctions were imposed by U.S. authorities in February, has set up a new Geneva-based trading business, four trading sources familiar with the matter said.
