Germany’s BMW will recall 360,000 vehicles in China as part of the worldwide effort to root out defective airbags made by now-defunct Japanese supplier Takata, regulators in Beijing said.
Eurozone inflation unexpectedly slowed in March, adding to the pressure on the European Central Bank (ECB) as it battles an economic slowdown which threatens to undo years of stimulus. Headline inflation in the 19 countries sharing the euro slowed to 1.4 per cent in March from 1.5 per cent a month earlier, short of market expectations for a steady rate and also well below the ECB’s target of almost 2 per cent.
Volkswagen is exploring purchasing a big stake in its Chinese electric vehicle joint venture partner JAC Motors and has tapped Goldman Sachs as an adviser on the plan, people with direct knowledge of the matter said. The move by VW, the largest foreign automaker in China, to buy into Anhui Jianghuai Automobile Group (JAC Motors) is the latest by foreign automakers to boost ownership
The euro languished near a 22-month low on Thursday, weighed down by ailing growth in Germany and the spectre of political uncertainty in Spain. A surprise drop in German business morale has highlighted the divergence between economic data in the United States and the eurozone.
Deutsche Bank came under increased pressure on Thursday to move forward on a tie-up with Commerzbank after Italy’s UniCredit was named as a potential alternative bidder for the German lender. UniCredit could explore a merger with Commerzbank if talks with Deutsche fall through, two people with knowledge of the matter said on Thursday.
Germany’s leading economic institutes slashed their forecasts for 2019 growth by more than half on Thursday and warned that the economy — Europe’s largest — could slow much more if Britain quits the European Union without an agreement.
German business morale fell to its lowest level since November 2014 in June, a survey showed on Monday, adding weight to expectations that Europe’s largest economy contracted in the second quarter.
Shares retreated in Europe early on Monday after a mixed day in Asia as surveys of manufacturers showed business confidence crumbling as Washington and Beijing spar over trade and technology.
Investors in the European Union and Switzerland will lose direct access to each others› stock exchanges from July 1 in an escalating row over a stalled partnership treaty.