BLOOMBERG France’s Renault SA has formally signed a joint venture agreement with China’s Zhejiang Geely Holding Group Co to set up a new combustion engine and hybrid powertrain company. The move follows a letter of intent signed between the three parties in March as the joint venture seeks to pool resources to work on hybrid technology and synthetic fuels to ...

BLOOMBERG Tata Group, India’s largest conglomerate, is close to an agreement to acquire an Apple Inc supplier’s factory as soon as August, marking the first time a local company would move into the assembly of iPhones, according to people familiar with the matter. A takeover of the Wistron Corp factory in southern Karnataka state, potentially valued at more than $600 ...

BLOOMBERG The buoyant mood sparked by China’s latest economic support measures didn’t last long on Tuesday as European stocks and US futures wavered after policy makers’ warnings of higher-for-longer interest rates. The Stoxx Europe 600 index pared an early gain after Governing Council member Francois Villeroy de Galhau said the European Central Bank is nearly finished hiking, but added that ...