PSA board signs off on Fiat Chrysler merger: source
The board of French carmaker PSA , the owner of Peugeot, approved a binding agreement for a $50 billion merger with rival Fiat Chrysler , a source close to the matter said on Tuesday.
The board of French carmaker PSA , the owner of Peugeot, approved a binding agreement for a $50 billion merger with rival Fiat Chrysler , a source close to the matter said on Tuesday.
U.S. homebuilding increased more than expected in November and permits for future home construction surged to a 12-1/2-year high as lower mortgage rates continue to boost the housing market and support the broader economy.
Ford Motor Co said on Tuesday it plans to invest more than $1.45 billion at two of its manufacturing facilities in Detroit to make electric, autonomous and sports utility vehicles, and add 3,000 jobs.
Chancellor Angela Merkel's conservatives and their Social Democrat partners have delayed until next year a decision on security rules for Germany's 5G network that could bar China's Huawei, a highly divisive issue in an unhappy alliance.
California wildfire victims and utility PG&E Corp have agreed to waive a Tuesday deadline for securing approval from the state's governor for the power company's reorganization plan that contains a $13.5 billion settlement for the victims.
Daimler is seeking to buy a majority stake in its Chinese operations, three people familiar with the matter told Reuters, after initial efforts to raise its stake failed and as Chinese investors tighten their grip on the German carmaker.
Qantas Airways Ltd plans to have more experienced pilots on board the world's longest non-stop flights than on its current long-haul flights for the first 18 months as it evaluates fatigue, said sources with knowledge of the matter.
Growth in China's industrial and retail sectors beat expectations in November, as government support propped up demand in the world's second-largest economy and amid easing trade hostilities with Washington.
China and the United States have agreed terms of a "phase one" trade deal under which Washington reduced some tariffs and Beijing canceled retaliatory duties that were previously scheduled to take effect on Dec. 15.
Budget airline Jetstar is cutting domestic capacity by around 10% in January and weighing the sale of three Boeing 787-8 jets to counter industrial action by its pilots that the Australian carrier expects will cost it up to A$25 million ($17 million).
Asian shares hit their highest in nearly eight months on Monday after the United States and China agreed on a preliminary trade deal, with Australian shares leading the way on expectations of more easing of monetary policy there.
Appliance maker Electrolux AB said on Sunday its North American business would take a higher than forecast $70 million earnings hit in the fourth quarter, partly due to extra costs related to its move into a new facility in South Carolina.
H&M reported a slightly smaller-than-expected rise in fourth-quarter sales reflecting a later Black Friday this year, the world's second-biggest fashion retailer said on Monday.
Oil prices on Monday slid off near three-month highs hit last week as investors searched for clarity beyond the initial impact of a trade deal between the United States and China that's expected to boost flows between the top two global economies.
U.S. President Donald Trump's top trade negotiator praised a "phase one" U.S.-China trade deal which is expected to nearly double U.S. exports to China over the next two years, while China remained cautious ahead of the signing of the agreement.