Volkswagen takes one-two punch in Australia with fine, lawsuit
Volkswagen AG took two raps in Australia on Friday as a court slapped a A$125 million ($86 million) fine on the German car maker as part of a global emissions cheating scandal and a regulator launched a civil lawsuit against a unit.
UK names Bailey to lead Bank of England through Brexit
Britain’s new government named Andrew Bailey as the next Bank of England boss on Friday, entrusting one of the City of London’s most experienced regulators with steering the world’s fifth-biggest economy and its vast finance industry through Brexit.
China can fulfil $40 billion U.S. farm purchase pledge: consultancy
China will make good on a pledge to purchase more than $40 billion per year of U.S. agricultural products under the recently agreed Phase 1 trade deal between the two countries, China’s top agriculture consultancy said on Friday.
World stocks hit record high, as sterling endures torrid week
World stocks touched record highs on Friday, as trading wound down before the year-end holidays, while the British pound was heading towards its worst week for more than two years amid renewed worries over how Britain will leave the European Union.
Exclusive: Huawei and Deutsche Telekom held advanced talks over 5G network deal – sources
Deutsche Telekom was in advanced talks to retain China’s Huawei as its main supplier of radio equipment for new mobile networks before it put the negotiations on hold for political reasons, according to three sources familiar with the matter.
Mahjong, cartoons coming to Tesla car screens in China next year
Tesla Inc said on Friday it will offer its Chinese customers more video and gaming content next year, marking the first time the automaker will offer internet-connected games in its vehicles.
Shell sees $2.3 billion charges, trims output estimate
Royal Dutch Shell said on Friday it expects impairment charges of up to $2.3 billion in the fourth quarter and trimmed its forecast for quarterly oil production sales.
China says Canada’s attempt to link U.S. trade matter with other issues doomed to fail
China’s foreign ministry said on Friday Canada’s attempt to link Sino-U.S. trade matters with other issues is doomed to fail.
Oil steady near three-month highs on trade deal progress; set for third weekly rise
Oil prices were steady close to three-month highs on Friday, heading for a third consecutive weekly rise, on the back of easing Sino-U.S. trade tensions that have weighed on demand as well as the global economic growth outlook.
Factbox: Nestle CEO Mark Schneider’s top deals since his appointment in 2017
Mark Schneider, Nestle’s first outside chief executive officer in almost a century, has made big strides in positioning the world’s largest food company for the future with aggressive deal making since taking over in January 2017.
