French government engaged constructively in failed FCA-Renault deal: Le Maire
The French government met only three out of its four conditions to back Fiat Chrysler’s (FCA) merger with Renault, having failed to win the support of Renault’s partner Nissan, Finance Minister Bruno Le Maire said on Thursday.
Weapon of choice? China rare earth prices soar on their potential role in trade war
Chinese rare earth prices are set to climb further beyond multi-year highs hit following a flurry of state media reports that Beijing could weaponize its supply-dominance of the prized minerals in its trade war with Washington.
Aviva overhauls UK business, to cut 1,800 jobs
British insurer Aviva will change the structure of its UK business and cut costs across the firm, with the loss of 1,800 jobs over three years, it said on Thursday.
Swiss regulator fines banks for fixing forex trading
Five banks have been fined a total of 90 million Swiss francs ($90.5 million) for colluding to rig the multi-trillion dollar foreign exchange market, Switzerland’s competition authority said on Thursday.
Global shares subdued as trade risk sours rate hopes
Share markets were in a muted mood on Thursday as fears the U.S. trade tussle with Mexico would further depress global growth warred with wagers central banks would have to respond with fresh stimulus.
Exclusive: Foxconn to reveal management overhaul as Gou sets sights on presidency – source
Apple supplier Foxconn is planning to overhaul its management structure in a move that would see more senior executives involved in the running of its daily operations, a person with direct knowledge of the matter told Reuters.
Toyota, Subaru team up to develop electric SUV in battle against costs
Toyota Motor Corp and Subaru Corp on Thursday said they plan to jointly develop a battery-electric sport-utility vehicle (SUV) on a platform produced together as they seek to split the cost of producing the lower-emissions car.
French bank Credit Agricole targets net profits of 5 bln 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.
U.S. must have access to U.S.-listed Chinese firms’ audit documents, lawmakers say
A bipartisan group of U.S. lawmakers introduced a bill on Wednesday to force Chinese companies listed on American stock exchanges to submit to regulatory oversight, including providing access to audits or face delisting.
Procter & Gamble keeps spending in Russia
Procter & Gamble is to invest 2.4 billion rubles ($37 million) in its Russian operations this year to expand its distribution center, modernize some manufacturing and localize more product production.
