Toyota snub dents Saudi Arabia’s manufacturing drive
Saudi Arabia began courting Toyota two years ago to build a large car plant as part of Crown Prince Mohammed bin Salman’s grand plan to wean the kingdom off oil revenues and create jobs for young Saudis.
Asian shares climb, wager all on dovish Fed, trade hopes revive
Asian shares hit five-week highs on Wednesday as investors hoped the Federal Reserve would follow the lead of the European Central Bank and open the door to future rate cuts at its policy meeting later in the day.
Oil gains amid Middle East tensions, U.S.-China trade deal hopes
Oil prices extended gains on Wednesday after rising in the previous session on rekindled hopes for a U.S.-China trade deal and on the potential for conflict between the U.S. and Iran in the Middle East after tanker attacks there last week.
Trade tensions kick Asian business confidence to 10-year low: Thomson Reuters/INSEAD
Confidence among Asian companies in the June quarter fell to its lowest since the 2008-09 financial crisis, as a U.S.-China trade war disrupts global supply chains and shows little sign of easing soon, a Thomson Reuters/INSEAD survey found.
China to maintain anti-dumping tariffs on U.S. distillers grains
China’s Ministry of Commerce on Wednesday said it will maintain anti-dumping and anti-subsidy tariffs on imports of U.S. distillers grains (DDGS), a cereal by-product of ethanol manufacturing, after completing a review launched in April.
Qantas adds 10 Airbus jets to order, will take 36 A321XLRs
Australia’s Qantas Airways Ltd said on Wednesday it would order 10 Airbus SE A321XLR jets, taking its total A320neo family order to 109 jets.
Most SoftBank Vision Fund investors want to join second fund: CEO Son
Most investors in SoftBank Group Corp’s $100 billion Vision Fund want to join the group’s forthcoming second fund, and discussions with those investors will begin soon, SoftBank founder and Chief Executive Masayoshi Son said on Wednesday.
Nissan considers seats for Renault chairman, CEO in new committees: Nikkei
Nissan Motor Co Ltd plans to give seats in its four proposed committees to alliance partner Renault SA’s chief executive and chairman, Japan’s Nikkei newspaper reported on Wednesday, citing sources.
Korean Air to buy 20 Boeing 787s, lease 10 more
(This June 19 story corrects to fix types of aircraft being purchased and leased in paragraph 2)
Oil extends gains amid Middle East tensions, U.S.-China trade deal hopes
Oil prices climbed on Wednesday, extending sharp gains from the previous session on rekindled hopes for a U.S.-China trade deal and on continued tensions in the Middle East after tanker attacks there last week.
