The German government is on the verge of raising its growth forecasts for this year and next, but its new projections will be more conservative than those published by leading economic institutes earlier this week, two government sources told Reuters.
Sectors
PSA Peugeot Citroen and Dongfeng to develop small-car platform
PSA Peugeot Citroen (PEUP.PA) and China's Dongfeng Motor Group (0489.HK) will spend 200 million euros ($216 million) to develop a technology platform for small cars that will help to give them more products to boost sales in southeast Asia and China.
Foreign automakers double down on China bets despite slowing growth
Foreign automakers continue to plough money into factories in China, the world's largest car market, even as the biggest economic slowdown in a quarter of a century crimps sales growth.
China makes big cut in bank reserve requirement to fight slowdown
China's central bank on Sunday cut the amount of cash that banks must hold as reserves, the second industry-wide cut in two months, adding more liquidity to the world's second-biggest economy to help spur bank lending and combat slowing growth.
Russia gas deal would not solve Greece's problems: Schaeuble
German Finance Minister Wolfgang Schaeuble said on Saturday he was happy over a report that Greece was poised to sign a gas deal with Russia, though he added it would not solve the cash-strapped euro zone nation's economic problems.
Latest News
Start small, win quick, then move on to bigger issues. That appears to be the European Union's strategy to pursue Google (GOOGL.O) in a competition dispute by choosing to push a narrow set of charges around its shopping service, while opening another investigation of Google's Android mobile phone software.
Russia denied on Saturday a German media report suggesting that it could sign a gas pipeline deal with Greece as early as Tuesday which could bring up to five billion euros into Athens' depleted state coffers.
The International Monetary Fund's member nations on Saturday warned of risks to the global economy from exchange rate shifts and geopolitical tensions as they took note of "moderate" global growth and "uneven prospects."
BMW (BMWG.DE) is recalling 91,800 Mini Coopers in the United States to replace a defective sensor that may prevent the front passenger seat air bag from deploying in a crash, the German automaker said on Saturday.
Greece will need to tap all the remaining cash reserves across its public sector -- a total of 2 billion euros ($2.16 billion) -- to pay civil service wages and pensions at the end of the month, according to finance ministry officials.
Crude futures fell from 2015 peaks in choppy trading on Friday, but Brent's 9.6 percent weekly gain was its biggest in more than five years as Middle East turmoil and signs of lower U.S. production lifted prices.
Solar panel maker SunPower Corp said it would partner with Apple Inc to build two solar power projects in China's Sichuan province with total capacity of 40 megawatts.
Brent crude oil prices fell on Friday, ending a run of rallies earlier in the week, after OPEC said that its output surged in March, adding to a global glut.
Fiat Chrysler Automobiles (FCHA.MI) (FCAU.N) has no plans to list any other brand from its portfolio besides luxury unit Ferrari, FCA Chief Executive Sergio Marchionne told a shareholder meeting on Thursday.
