China’s biggest automaker expects domestic car sales to pick up in second quarter
China’s biggest automaker SAIC Motor expects the nation’s auto sales to post year-on-year growth in the second quarter due to recovering demand and supportive policies, its chairman said on Friday.
Nissan considering 20,000 job cuts, mainly in Europe, developing nations: Kyodo
Nissan Motor Co is considering cutting 20,000 jobs from its global workforce, focusing on Europe and developing countries, Kyodo news reported on Friday, as the Japanese automaker struggles to recover from plunging car sales.
Roche buys U.S. gene sequencing tech company Stratos Genomics
Pharmaceutical group Roche has acquired U.S.-based Stratos Genomics to further develop DNA-based sequencing for diagnostic use, it said on Friday.
Why bond investors are willing to bet on money-losing Pemex after oil price crash
Mexico’s state-owned oil company Petroleos Mexicanos has seen investor sentiment improve in recent weeks despite sky-high debts, a slump in demand and no clear direction about how the government will turn the money-losing driller around.
Rudderless after a rally, stock markets look for next catalyst
Global equity markets have shuffled up about 1% this month despite the world starting to re-open after the coronavirus-driven lockdowns and U.S. and European economic data showing glimmers of a recovery.
Oil falls as China omits 2020 growth target amid pandemic
Oil prices fell on Friday after China failed to set an economic growth target for 2020, sparking concerns that the fallout from the coronavirus pandemic will cap fuel demand in the world’s second-largest oil user.
Australia’s Wesfarmers to shut or rebrand over 100 Target stores in virus slump
Australian retail giant Wesfarmers Ltd said it will close or rebrand nearly two-thirds of its Target department stores and take one-off charges totalling up to A$650 million ($426 million) as it reels from the coronavirus fallout.
Oil drops after China abandons target for 2020 GDP amid coronavirus outbreak
Oil prices slumped on Friday after China’s decision to omit an economic growth target for 2020 renewed concerns that the fallout from the coronavirus pandemic will continue to depress fuel demand in the world’s second-largest oil user.
GM gradually restarts in Mexico as Lear Corp readies for return
General Motors Co said on Thursday it was gradually restarting the transmission and motor lines at its Mexican facilities in Silao and Ramos Arizpe, while U.S. auto parts maker Lear Corp also geared up for production.
Hong Kong leads Asian shares lower as Beijing readies new security law
Hong Kong shares tumbled on Friday after Beijing moved to impose a new security law on the city after last year’s pro-democracy unrest, risking fresh protests and further straining fast-deteriorating U.S.-China ties.
