Markets

Indian automaker Tata Motors Ltd said on Friday it would spin out its passenger vehicles business into a separate unit within the company, as a coronavirus pandemic disrupts production and demand for cars.

Alitalia's administrator has asked the Italian government to increase the number of employees under temporary lay-off scheme to nearly 7,000, a document showed, to help mitigate the impact the coronavirus outbreak had on the airline and the wider sector.

European stocks fell on Friday, halting their biggest ever three-day rally in a sign investors were focusing once more on the spread of the coronavirus pandemic despite hopes for further stimulus measures to combat its economic impact.

BEIJING/MADRID: China's Shenzhen Bioeasy Biotechnology Co said on Friday (Mar 27) it will replace some coronavirus test kits it exported to Spain after the Spanish government deemed them too inaccurate to be used to diagnose patients. Spain's Ministry of Health, Consumer Affairs and Social Welfare ...

Luxury carmaker Ferrari said on Friday it would extend the shutdown of its two Italian plants and reopen on April 14, provided it had supplies, and update 2020 forecasts in May when it releases its first-quarter earnings.

A new OPEC+ deal to balance oil markets might be possible if other countries join in, Kirill Dmitriev, head of Russia's sovereign wealth fund said, adding that countries should also cooperate to cushion the economic fallout from coronavirus.

China's auto industry has gone from zero to sixty in its post-pandemic campaign drive, with manufacturers and dealers quick to woo back lockdown-weary consumers through campaigns as unusual as a makeup-promoting personality touting car leasing.

SEOUL: The "nut rage" heiress who forced a plane to turn back over her macadamias failed Friday (Mar 27) to wrest control of the family airline from her brother, in what analysts said illustrated the power of incumbents at South Korea's chaebols. Cho Hyun-ah, 45, whose family control the Hanjin...

Volkswagen's chief financial officer called on the European Central Bank (ECB) to accelerate purchases of short-term debt, the Financial Times reported on Friday.

HONG KONG: As thousands of Hong Kong citizens and expatriates return to the city, many are seeking refuge in hotels, fearful that cramped apartments in one of the world's most expensive property markets could put families or flatmates at risk. Social distancing is tough in Hong Kong, where the...