Mitsubishi Motors’ annual profit tumbles, refrains from issuing forecast
Mitsubishi Motors Corp posted on Tuesday an 89% drop in annual operating profit for its weakest performance in three years and skipped the year-end dividend, as the coronavirus outbreak added to the Japanese automaker’s profitability woes.
Euro, Italian bonds cheer EU recovery fund plan
The euro and Italian government bonds continued on Tuesday to cheer German- and French-led plans for a 500 billion euro EU coronavirus recovery fund, though stock markets were suffering fatigue after their best day in months.
Abu Dhabi’s Etihad cuts hundreds of jobs: sources
Abu Dhabi’s Etihad Airways has laid off hundreds of employees this month, including cabin crew, after the coronavirus pandemic forced it to ground flights, according to industry and company sources.
Auto industry big part of Italy GDP, fair to back FCA for job creation: minister
The auto industry represents a significant share of Italy’s economy and it is right to support those who create jobs, Deputy Economy Minister Laura Castelli said when asked about Fiat Chrysler’s request for state-backed loans.
U.S. overtakes China as most attractive country for renewables investment: research
The United States has overtaken China as the most attractive country in the world for renewables investment and the global clean energy sector is expected to bounce back quickly despite the coronavirus pandemic, research showed on Tuesday.
Thyssenkrupp CEO: no taboos in steel consolidation plans
Thyssenkrupp’s CEO on Tuesday said there were no taboos in plans to consolidate its steel unit, with options ranging from selling a majority to buying peers.
Oil gains for fourth day on signs of output cuts, better demand
Oil prices rose for a fourth straight session on Tuesday amid signs that producers are cutting output as promised just as demand picks up, stoked by more countries easing out of curbs imposed to counter the coronavirus pandemic.
Auto industry key part of Italy GDP, fair to support FCA if creates jobs: minister
The auto industry represents a significant share of Italy’s economy and it’s right to support those who create jobs in the country, Deputy Economy Minister Laura Castelli said when asked about Fiat Chrysler’s request for state-backed loans.
Asia shares rally on vaccine hopes, oil retreats after early gains
Asian shares extended gains on Tuesday as more countries emerged from their economic lockdowns and a successful early-stage trial of a coronavirus vaccine cheered sentiment, although oil shed some of its early moves higher.
Regulator asks for Credit Suisse directors’ mobile data in spy inquiry: sources
Swiss regulators have requested electronic messaging data from the mobile phones of several Credit Suisse managers and supervisory board directors as part of a probe into spying at the bank, three people familiar with the matter said.
