Oil eases on demand concerns, tensions over Hong Kong
Oil prices dipped on Wednesday as concerns over how quickly fuel demand will recover tempered an easing of lockdowns to halt the spread of coronavirus, while U.S.-China tensions added to negative sentiment.
South Africa’s SAA aims to resume domestic flights from mid-June
South African Airways (SAA) aims to resume domestic flights between Johannesburg and Cape Town from mid-June as lockdown restrictions aimed at curbing the spread of the coronavirus ease, spokesman Tlali Tlali said on Tuesday.
Dollar gains, yuan takes hit as Hong Kong simmers
The dollar edged higher on Wednesday as worries about the U.S. response to China’s proposed security law and renewed protests in Hong Kong supported safe-haven demand for the greenback.
Drugmaker Sanofi to raise over $11 billion via sale of Regeneron shares
Sanofi will raise over $11 billion from the sale of 21.6 million shares in its U.S. partner Regeneron , the French drugmaker said on Wednesday, adding it would use the proceeds for innovation and general growth.
Tesla to cut car prices in North America, China
Tesla Inc said on Wednesday it will cut prices of its electric vehicles in North America as the firm ramps up car production at its Fremont, California, factory after the easing of coronavirus lockdowns.
Exclusive: Volkswagen in final talks to seal biggest M&A deals in China EV sector – sources
Volkswagen AG is in final talks to seal its largest investment deals with Chinese electric vehicle (EV) firms, two sources said, as the German automaker accelerates its push into the world’s largest market for environmentally friendlier cars.
Mexico’s auto industry restart gathers steam as lockdown eases
Mexico’s auto industry reopening picked up pace on Tuesday, with Fiat Chrysler and BMW AG joining peers in gradually dusting off operations even as the wait for approvals slowed the return of some companies.
Dollar gains, yuan slumps on rising Hong Kong tensions
The dollar edged higher on Wednesday as worries about the U.S. response to China’s proposed security law for Hong Kong supported safe-haven demand for the greenback.
China’s GAC keeps target of 3% sales growth despite coronavirus pressure
Chinese automaker GAC , which has partnered with Toyota , Honda and FCA , will stick to an annual target of 3% in sales growth this year despite fallout from the coronavirus pandemic, its chairman said.
Asian shares slip as new Hong Kong tensions rise
Asian shares slipped on Wednesday as investor concerns about rising tensions between the United States and China tempered optimism about a re-opening of the world economy.
