Business News

LVMH's board met this week to discuss the fallout from the coronavirus crisis on its $16.2 billion purchase of U.S. jeweller Tiffany, the luxury goods group said on Thursday, opening the door to a possible attempt to review the deal terms.

South Korean prosecutors have requested an arrest warrant for Samsung Group heir Jay Y. Lee, they said on Thursday, in the investigation of a 2015 merger and alleged accounting fraud in a suspected bid to aid his succession plans.

* Brent crude dips after topping $40 for first time since March

Oil prices dropped on Thursday on doubts over the ability of crude producers to agree to extend record output cuts, heightened by worries over a build in U.S. fuel inventories.

General Motors will "work very closely" with Chinese electric vehicle battery maker Contemporary Amperex Technology Ltd (CATL) as it ramps up electric production in the world's biggest auto market, a senior executive said.

British new car sales tumbled by an annual 89% in May, only slightly less negative than April's record 97% collapse, as car dealerships remained shuttered by the government's coronavirus lockdown, industry data showed on Thursday.

A South Korean court said on Thursday it will review the prosecution's request for an arrest warrant for Samsung Electronics vice chairman Jay Y. Lee.

U.S. senators will announce a bill this week expanding sanctions on Russia's Gazprom-led Nord Stream 2 project, Senate aides said, targeting a pipeline Washington says will make Europe too reliant on Russian gas.

General Motors will "work very closely" with Chinese electric vehicle battery maker Contemporary Amperex Technology Ltd (CATL) as it ramps up electric production in the world's biggest auto market, a senior executive said.

Citigroup is looking to ramp up its commercial banking operations across Europe, Middle East and Africa, plugging gaps left by rivals facing fallout from a coronavirus-induced recession.

JOHANNESBURG - World-leading renewables companies are lining up to invest in South Africa's energy sector and help remedy a chronic generation shortfall that pushed the continent's most advanced economy into recession even before the COVID-19 pandemic struck.

British new car sales tumbled by an annual 89% in May, only slightly less negative than a 97% collapse in April, as car dealerships were hit by the government's coronavirus lockdown, industry data showed on Thursday.

World food prices fell for a fourth consecutive month in May, hit by the economic fallout of the coronavirus pandemic which has stymied demand, the United Nations food agency said on Thursday.

Citigroup is looking to ramp up its commercial banking operations across Europe, Middle East and Africa, plugging gaps left by rivals facing fallout from a coronavirus-induced recession.

South Korean prosecutors have requested an arrest warrant against Samsung Group heir Jay Y. Lee, they said on Thursday, in the investigation of a controversial 2015 merger and alleged accounting fraud in a suspected bid to aid his succession plans.

A look at the day ahead from Senior FX Correspondent, Saikat Chatterjee. The views expressed are his own.

The energy industry's bet that a petrochemicals boom would support decades of oil and gas sales growth is on shaky ground as an already saturated plastic market is hit by a coronavirus demand shock.

LVMH said on Thursday it did not plan to buy shares in Tiffany on the market, which would be one way for the French luxury goods group to buy the U.S. jeweller for less than the $16.2 billion agreed in last year's acquisition deal.

Germany unveiled sweeping incentives for cheap electric cars and for hybrid vehicles, providing a boost to Volkswagen's electric push while staggered taxes for polluting combustion-engined cars will penalise sports utility vehicles.

A European stock market rally paused on Thursday, with investors focussing on a European Central Bank meeting where policymakers are expected to provide more aid for the battered euro zone economy.