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.
Shares in carmakers Renault and Fiat Chrysler (FCA) both fell sharply on Thursday after Fiat Chrysler abandoned its $35 billion merger offer.
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.
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.
Sir Richard Branson's Virgin Orbit said on Thursday it plans to bring its satellite launch system to Japan in partnership with airline operator ANA Holdings Inc, which will provide maintenance and possibly aircraft.
Rolls-Royce agreed Britain's largest ever transfer of corporate pension risk, announcing on Thursday it would shift 4.6 billion pounds ($5.8 billion) of assets to insurer Legal & General.
Shares in Fiat Chrysler (FCA) and Renault fell sharply in early trading on Thursday after their $35 billion-plus merger plan fell apart only 10 days after being made public, with FCA blaming French politicians.
U.S. President Donald Trump threatened to hit China with tariffs on "at least" another $300 billion worth of Chinese goods but said he thought both China and Mexico wanted to make deals in their trade disputes with the United States.
British insurer Aviva will restructure its British business and cut costs across the firm with the loss of 1,800 jobs globally as it new chief executive seeks to make the business more competitive.
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 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 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.
Investment banking conditions have improved over recent months but remains "very fragile," UBS Chief Executive Sergio Ermotti said on Thursday, adding the Swiss lender's own business was performing in line with the industry.
U.S. President Donald Trump threatened to hit China with tariffs on "at least" another $300 billion worth of Chinese goods but said he thought both China and Mexico wanted to make deals in their trade disputes with the United States.
German bond yields plumbed new record lows on Thursday and U.S. treasury yields resumed their fall as renewed trade tensions doused a rally fueled by hopes for more central bank stimulus ahead of a European Central Bank meeting.
Credit Agricole, France's second-largest listed bank, on Thursday said profit growth would slow over the next four years, adopting a cautious outlook in the face of low interest rates and a potential deterioration in its loan portfolio.