PSA’s shares rise as Fiat Chrysler withdraws merger offer for Renault
Shares in Peugeot-carmaker PSA rose on Thursday, as analysts examined the possibility that Fiat Chrysler (FCA) might turn back to PSA after FCA withdraw a merger offer for Renault.
Ford expected to announce closure of Welsh engine factory: source
Ford is expected to announce on Thursday that it is closing its engine facility in Wales, a source told Reuters, putting at risk 1,700 jobs in what would be the latest blow to Britain’s car industry.
China says will fight to end if U.S. escalates trade tensions
China will fight to the end if the United States decides to escalate trade tensions, the Commerce Ministry said on Thursday, as U.S. President Donald Trump reiterated his threat to levy additional tariffs on $300 billion of Chinese goods.
French bank Credit Agricole targets net profits of 5 billion euros in 2022
French bank Credit Agricole unveiled a new set of higher profit targets for 2022 after it had met its 2019 targets a year ahead of schedule, and said it now expected annual net profits above 5 billion euros ($5.6 billion) in 2022.
Credit Agricole CEO says no pressure, no need to grow via M&A
Credit Agricole’s Chief Executive Philippe Brassac said his bank will focus on organic growth in the coming three years as it has no pressure or need to expand through acquisitions.
Venezuela to open PDVSA office in Moscow this month: Ifax
Venezuela’s state oil company PDVSA plans to open an office in Moscow this month, Interfax news agency cited Venezuela’s oil minister as saying on Thursday during a trip to the Russian city of St Petersburg.
France engaged constructively in failed FCA-Renault talks: Le Maire
France’s finance minister said on Thursday following the collapse of merger talks between Fiat Chrysler (FCA) and Renault that the government had engaged constructively but failed to win the support of Renault’s Japanese partner, Nissan.
Renault and Fiat shares skid after $35 billion merger deal collapses
Shares in carmakers Renault and Fiat Chrysler (FCA) both fell sharply on Thursday after Fiat Chrysler abandoned its $35 billion merger offer.
Exclusive: Foxconn plans management overhaul as Chairman Gou seeks Taiwan presidency – source
Apple supplier Foxconn is planning to overhaul its management structure to get more senior executives involved in the running of its daily operations, a person with direct knowledge of the matter told Reuters.
France hopes ‘door not closed’ on FCA/Renault deal: French budget minister
French budget minister Gerald Darmanin said he hoped the door had “not closed” on the possibility of a merger between Fiat Chrysler (FCA) and Renault and added France would be happy to re-examine any new proposal from Fiat.
