The banks that lent US$518 million to Luckin Coffee Chairman Charles Zhengyao Lu have started court proceedings to liquidate his private company, a government gazette for the British Virgin Islands showed.
India's central bank slashed interest rates on Friday in an effort to contain the economic fallout of the world's largest coronavirus lockdown and warned the economy could contract this year.
France's Finance Minister Bruno Le Maire said on Friday that Renault could disappear if it does not get help very soon to cope with the fallout from the coronavirus crisis, while adding that Renault also needed to adapt to the situation.
China's biggest automaker SAIC Motor expects the nation's auto sales to post year-on-year growth in the second quarter due to recovering demand and supportive policies, its chairman said on Friday.
Nissan Motor Co is considering cutting 20,000 jobs from its global workforce, focusing on Europe and developing countries, Kyodo news reported on Friday, as the Japanese automaker struggles to recover from plunging car sales.
Vodafone , the world's second-biggest mobile operator, has recruited Jean-Francois Van Boxmeer, the current CEO of brewer Heineken , to succeed Gerard Kleisterlee as chairman from November this year.
Global equity markets have shuffled up about 1per cent this month despite the world starting to re-open after the coronavirus-driven lockdowns and U.S. and European economic data showing glimmers of a recovery.
Mexico's state-owned oil company Petroleos Mexicanos has seen investor sentiment improve in recent weeks despite sky-high debts, a slump in demand and no clear direction about how the government will turn the money-losing driller around.
MANILA: A Philippine lawmaker has introduced a bill in parliament aimed at taxing big tech firms such as Facebook, Alphabet's Google and Youtube, Netflix and Spotify, to raise funds to battle the coronavirus. The bill looks to raise 29 billion pesos (US$571 million) by imposing a value added tax...
New Zealand is considering distributing free cash directly to individuals as a way of policy stimulus to help boost the economy reeling from a COVID-19 pandemic driven contraction, Finance Minister Grant Robertson said on Friday.
