Geely’s Volvo Cars sales soar 40% in May vs month-ago as virus curbs ease
Volvo Cars, owned by China’s Geely Holding, said on Wednesday it sold 40% more cars in May than in April, as restrictions to contain the spread of the COVID-19 pandemic started to ease in several markets.
Nomura considers having fewer staff at headquarters permanently
Nomura Holdings Inc is considering having fewer staff work at its Tokyo headquarters permanently now that the coronavirus pandemic has spurred a huge shift to remote working, its chief executive said.
U.S. senator Cotton cautions Britain over Huawei cooperation
U.S. Republican Senator Tom Cotton cautioned Britain on Wednesday that a decision to allow China’s Huawei a role in 5G networks could hurt military cooperation and be an issue in trade talks.
China drives global oil demand recovery out of coronavirus collapse
China’s oil demand has recovered to more than 90% of the levels seen before the coronavirus pandemic struck early this year, a surprisingly robust rebound that could be mirrored elsewhere in the third quarter as more countries emerge from lockdowns.
Geely’s Polestar to open 20 showrooms in China to compete with Tesla
Polestar, the premium electric vehicle maker owned by China’s Geely, plans to open 20 showrooms in the mainland, as it prepares for delivery of its Polestar 2 electric sedans to compete with Tesla Inc’s locally made Model 3.
Shell weighs sale of $2 billion-plus stake in Queensland LNG facilities
Royal Dutch Shell is considering raising more than $2 billion from the sale of a stake in the common facilities at its Queensland Curtis LNG plant in Australia, according to a sale flyer reviewed by Reuters.
Renault finalises 5 billion euro state-backed loan
Renault finalised on Wednesday a 5 billion euro ($5.60 billion) loan from with the French government, strengthening the carmaker’s finances in the wake of the coronavirus pandemic which has ravaged the auto industry.
Lufthansa vows company revamp as losses balloon
Lufthansa vowed to step up up restructuring measures after posting a first-quarter net loss of 2.1 billion euros ($2.35 billion), days after agreeing a state bail-out amid the fallout from the coronavirus pandemic.
Oil gains, with Brent above $40, as hopes rise for output cuts, recovery
Oil rose on Wednesday, with Brent above $40 for the first time since March, as optimism mounted that major producers will extend output cuts and a recovery from the coronavirus pandemic will spur fuel demand.
Virgin Australia bidders get 10-day extension for final offers, source says
Virgin Australia Holdings Ltd’s administrator has given final bidders Bain Capital and Cyrus Capital Partners until June 22 to lodge binding offers, an extension of 10 days from the original date, a person with knowledge of the matter said on Wednesday…
