France's Renault SA and India's top utility vehicle maker Mahindra are in the running to buy troubled South Korean SUV maker Ssangyong Motor, sources said on Friday, in a deal worth up to $500 million.
Honda Motor Co is still trying to resolve a labor dispute at a China parts plant that led to the closure of all four of its car plants in the country and has no timetable for resuming production, a company spokesman said on Friday.
The world's top countries face more wrangling over a global bank tax next week and crunch time over beefing up capital and cutting risks at big banks.
Stocks were set for a flat open on Friday as upbeat news from Apple, a technology and retail bellwether, was offset by unexpectedly flat April consumer spending data.
Stock index futures rose on Friday ahead of data on business conditions and consumer sentiment as investors steered toward a three-day holiday weekend.
The Philippines is considering a five year moratorium on exports of iron ore till the completion of its two integrated steel processing plants. According to country's Department of Environment and Natural Resources (DENR), the proposed ban comes from the need to conserve the resource for the possible establishment of iron or steel plants as well as the rights of the companies producing iron.
China on Thursday inaugurated Asia's largest solar power plant with a designed installed capacity totalling 166 megawatts. The power plant located at Kunming, capital of Yunnan province went into operation in the first stage with installed capacity of 20 MW.
Stock index futures edged higher on Friday, tracking global stocks, as beaten-down shares continued to entice investors and fears about euro-zone debt receded.
The euro dipped versus the dollar on Friday, paring hefty gains made the previous day, as investors squared positions ahead of the month-end while worries over the impact of the euro zone debt crisis capped rallies.
Global platinum production is set to face some crisis in the coming month as the world watches one of the biggest sports festivals in the world, the FIFA World Cup Soccer. It is strange that a sports event will help lift the prices of precious metals in the global markets. But this is not the first time sports events helped lift the prices of commodities. During the Beijing Olympics, several commodities witnessed a surge due to the increased demand from China for construction and other purposes....
After raiding iron ore mines across the world to make investments, China is now scouting for platinum producers in South Africa. Recently, China has decided to pump in $877 million into South Africa's platinum sector. In a deal backed by the China-Africa Development Bank, Chinese state-owned mining firm Jinchuan will acquire a 51 per cent stake in the small platinum developer and develop its Frischgewaagd-Ledig mine.
Global oil prices advanced past $75 a barrel mark in Asian trade Friday mainly after China denied reports of its Eurozone disinvestments. Light sweet crude for July delivery was seen trading at $75.01 a barrel at 11.30 a.m Singapore time while in London, the Brent crude July contact was up 8 cents to $74.74 on the ICE futures exchange.
Gold prices eased in Asian trade Friday despite a recovery by the euro after China assured investors it was not losing confidence in euro zone assets. Gold for immediate delivery was seen trading at $1208.95 an ounce at 11.30 a.m Singapore time while U.S. gold futures for June delivery was at $1208.01 an ounce at the Comex division of the New York Mercantile Exchange.
Asian stocks bolted on Friday posting their third straight day of gains after China's pledge to remain invested in Europe boosted confidence, but the euro dipped after rebounding from near four-year lows the previous day.
Technology companies feeling the pinch from Europe's debt crisis could face a tough sell when industry buyers gather in Taipei to examine the latest whizz-bang features at the world's No.2 computer fair.
Taiwan's Hon Hai Precision Industry plans to raise workers' salaries by about 20 percent at its Foxconn unit in China, as it struggles to stop a spate of worker suicides and quell rising public anger.
Ford Motor Co is considering a plan to drop Mercury, a brand developed in the 1930s that has seen sales and investment plunge in recent years, a person familiar with the discussions said.
The Australian Dollar has had a strong run overnight to be trading just below USD0.8500 following a positive lead on equity markets.
The U.S. economy grew at a slightly slower pace than previously estimated in the first quarter but the recovery still appeared solid, suggesting the economy could withstand fallout from the European debt crisis.
Stocks rallied on Thursday as investor worry was eased after China refuted a report that it was reviewing its euro-zone bond holdings due to the region's debt crisis.
Cheap stocks and robust consumption by its middle class are reason to buy into China now, even though markets have turned cautious on the world's No.3 economy, a fund manager at BlackRock told Reuters.
Stocks rose sharply on Thursday as investor worry was eased after China refuted a report that it was reviewing its holdings in euro-zone sovereign bonds due to the region's debt.
