Asian stocks rally after Fed cut, BOJ sends clearer easing signal
Asian shares jumped on Thursday to a three-month high and the dollar fell broadly after the Federal Reserve cut interest rates as expected and U.S. Treasury yields declined.
Asian shares jumped on Thursday to a three-month high and the dollar fell broadly after the Federal Reserve cut interest rates as expected and U.S. Treasury yields declined.
China's Foreign Ministry said on Thursday that the Chinese and U.S. heads of state have been maintaining contact through various means on trade negotiations.
Auto sales in China may skid to 26 million this year, a drop of around 8%, a senior industry executive warned, as the world's largest auto market braces for a second year of contraction amid slowing economic growth and tighter vehicle emissions standards.
Fiat Chrysler and Peugeot's owner PSA said on Thursday they would join forces through a 50-50 share swap to create the world's fourth-largest automaker.
France welcomed a planned merger between Italy's Fiat Chrysler and French Peugeot maker PSA , but would be vigilant about the firm's French industrial footprint and about maintaining its decision centers, French Finance Minister Bruno Le Maire said in a statement on Thursday.
Fiat Chrysler and Peugeot owner PSA plan to join forces through a 50-50 share swap to create the world's fourth-largest automaker, they said on Thursday, triggering a new wave of consolidation in the car industry.
Oil prices rose on Thursday as investors banked on more economic stimulus by China after weak PMI data, partly recovering from losses in the previous session on a much larger than expected build in U.S. crude stocks.
Qantas Airways Ltd and Southwest Airlines Co are stepping up checks for structural cracks on Boeing Co 737 NGs after discovering problems with planes that did not require urgent inspections, airline sources said.
Fiat Chrysler's Chinese partner Guangzhou Automobile Group said it respected the firm's decision to merge with Peugeot parent firm PSA and would look to deepen its cooperation with the automaker.
Leaders from the United States and China encountered a new obstacle in their struggle to end a damaging trade war on Wednesday, when the summit where they were supposed to meet was canceled because of violent protests.
IG Metall, Germany's largest union by members, said on Thursday it would seek to preserve the autonomy of PSA's German unit Opel after PSA and Fiat Chrysler announced plans to create the world's fourth-largest automaker.
A planned merger between Italy's Fiat Chrysler (FCA) and French Peugeot owner PSA is good news provided it does not affect jobs in Italy, the country's industry minister said on Thursday.
Chinese officials have doubts about whether it is possible to reach a comprehensive long-term trade deal with Washington and U.S. President Donald Trump, Bloomberg reported on Thursday, citing unnamed sources.
Nintendo Co Ltd's second-quarter operating profit more than doubled, blowing past analyst estimates, on strong demand for its Switch console.
Pesticides and seeds producer Corteva Inc posted a smaller-than-expected quarterly loss on Thursday as seed sales jumped after historic floods in the U.S. Midwest delayed the spring planting season.