Oil falls but set to post biggest monthly rise in years on output cuts
Oil prices edged lower on Friday, set to post their first weekly fall in five weeks, after U.S. inventory data showed lacklustre fuel demand in the world’s largest oil consumer while worsening U.S.-China tensions weighed on global financial markets.
Renault to restructure French factories in bid to slash costs
Renault said on Friday it was launching talks with unions to restructure several French car plants, potentially leading to closures, as it confirmed plans to cut around 15,000 jobs worldwide.
Renault to restructure French factories in high-stakes reboot plan
Carmaker Renault said on Friday it was launching talks with unions to restructure some French plants and potentially close others as it confirmed plans to cut around 15,000 jobs worldwide to ride out a slump in sales.
Stocks slip as markets await Trump’s Hong Kong response
Stock markets dipped and safe-havens such as bonds and Japan’s yen firmed on Friday, as investors awaited Washington’s response to China tightening control over the city of Hong Kong.
China’s Geely raises $836 million from share sale
Geely Automobile Holdings Ltd said on Friday it raised HK$6.48 billion ($836 million) from a share placement as the Chinese automaker looks to replenish its coffers to finance growth in the world’s largest auto market.
Virgin Australia’s administrator to shortlist two bidders early next week
The administrator of Virgin Australia Holdings Ltd said it expected to shortlist two preferred bidders early next week after parties confirmed non-binding indicative proposals to acquire the airline on Friday.
With ‘Main Street’ in view, Fed weighs risks of job, productivity shocks
U.S. Federal Reserve officials have talked broadly about helping households and firms through the current economic crisis and quickly unleashed trillions of dollars in cash and credit guarantees to build a “bridge” to the post-pandemic world.
Virgin Australia’s administrator to shortlist two bidders early next week
The administrator of Virgin Australia Holdings Ltd said it expected to shortlist two preferred bidders early next week after parties confirmed non-binding indicative proposals to acquire the airline on Friday.
Volkswagen pumps 2 billion euros into China electric vehicle bet, buys stakes in two firms
Volkswagen AG (VW) said on Friday it has agreed to invest 2.1 billion euros ($2.33 billion) in two separate Chinese electric vehicle players, upping its bet on the world’s biggest auto market as international rivals seek to muscle in.
SoftBank Vision Fund head’s pay doubled last year despite massive losses
(This May 29 story corrects Mizuho borrowing to 912 million, not 1.39 trillion yen, in paragraph 6 and borrowing from the three big Japanese banks to almost 2 trillion yen, not 2.45 trillion yen, in paragraph 7 after SoftBank issues corrected filing)
