French carmaker Renault on Friday cut its 2019 revenue outlook, on the back of falling demand and tough conditions within the automotive industry. Renault said it was now expecting 2019 revenue to be close to last year’s level, down from its previous full-year revenue guidance. The global auto industry has been hit by China’s slowing […] Read more
The British Chancellor of the Exchequer, Philip Hammond, announced on Sunday that he would resign if Conservative leader candidate Boris Johnson is elected as next British prime minister on Wednesday. “I intend to resign after prime minister’s questions on Wednesday”, Hammond told the BBC’s Andrew Marr Show. Hammond’s announcement came just before foreign office minister […] Read more
Iran seized a foreign tanker with 12 crew accused of smuggling fuel in the Gulf, state television quoted Iran’s Revolutionary Guards as saying on Thursday. “A foreign vessel smuggling one million litres of fuel south of Larak Island in the Persian Gulf has been seized,” the station said. The vessel was first towed on Sunday […] Read more
U.S. payments company PayPal is expanding further in Europe by launching its international money transfers service Xoom in Britain and 31 other countries across the continent. Xoom allows customers to transfer money abroad to more than 130 markets internationally, including India, Pakistan, Nigeria, Kenya, Poland and China. The company said the roll-out would help it […] Read more
The boss of Europe’s Ryanair Holdings warned on Wednesday the impact of the prolonged grounding of Boeing Co’s 737 MAX on the airline’s growth plans may start to spill over to next summer if the airplane is not flying again by November. Europe’s largest budget carrier needs up to eight months to take delivery of […] Read more
Deutsche Bank employees were seen leaving its London offices on Monday after the German lender announced its intent to cut 18,000 jobs by 2022 in a sweeping overhaul of its global business. A number of visibly disgruntled employees were seen leaving, some with A4 envelopes, while a source with knowledge of the matter confirmed to […] Read more
North Korea’s mission to the United Nations has accused the U.S. of being “obsessed with sanctions” and “more and more hell-bent on hostile acts” against Pyongyang. North Korea’s delegation to the UN said Wednesday that the country was responding to a letter sent to all UN member states late last month. In it, the U.S. […] Read more
Southwest Airlines expects it will have to remove the grounded Boeing Co 737 Max jets from its flying schedule beyond the current October 1 re-entry date following the discovery of a fresh safety issue, Chief Executive Gary Kelly told employees on Monday. Last week, Boeing said that it would take until at least September to […] Read more
The meeting between Chinese and American leaders in Osaka may have pressed the pause button on their escalating trade war, but pundits on both sides remain doubtful about how long a ceasefire can avert a looming showdown between the two economic superpowers. In a make-or-break meeting on Saturday that stole the limelight at the Group […] Read more
Stocks in Asia Pacific dipped on Friday as investors watched for developments from the G-20 summit in Osaka, Japan, where U.S. President Donald Trump and Chinese President Xi Jinping are expected to meet amid the ongoing trade standoff. In Japan, the Nikkei 225 slipped 0.29% to close at 21,275.92, with shares of index heavyweight and […] Read more
