A long-term supply deficit has led prices of the metal, used mainly in engine exhausts to curb harmful emissions, to double over the last year. In the futures market, prices of metal for near-term delivery have also moved sharply above those for later-dated contracts - a situation known as backwardation, which also indicates buyers fear a lack of ready supply. Before this rally began, palladium prices had never exceeded $1,100.
TOKYO/PARIS (Reuters) - Shares in Renault recovered some lost ground on Tuesday after the French carmaker and its Japanese partner Nissan Motor rejected media reports that their alliance was in danger of being dissolved. Growing concerns about the state of the 20-year old French-Japanese alliance, forged by former boss turned fugitive Carlos Ghosn, had sent Renault and Nissan shares skidding to multi-year lows on Monday. At the opening of trading in Paris on Tuesday, Renault shares rose 1.3 pe
Renault shares hit six-year lows on Monday after a media report that Nissan has accelerated secret contingency planning for a potential split from the French carmaker, the latest sign that the downfall of former boss Carlos Ghosn is roiling the 20-year alliance. At 1027 GMT, the shares were down 3.7%, languishing at the bottom of Paris' CAC 40 and the pan European STOXX 600 index . The plans include war-gaming a total split in engineering and manufacturing, as well as
The 107-year-old firm, famed for being fictional agent James Bond's brand of choice, cut its forecast for wholesale volumes and profit margins in July, and reduced its volume forecast again in November. "From a trading perspective, 2019 has been a very disappointing year," Chief Executive Officer Andy Palmer said, as the company's shares plunged as much as 16%. While Aston spent 2019 ploughing money into a new factory to build its first sport utility vehicle (SUV), the highly lucrative market
U.S. electric vehicle maker Tesla Inc cut the starting price for its China-made Model 3 sedans by 16% to 299,050 yuan ($42,919) after receiving Chinese subsidies for electric vehicles, according to its China website. The reduction, partly thanks to 24,750 yuan of subsidies, from an earlier 355,800 yuan is among a slew of adjustments Tesla has made to its sales policy in China, including tweaking prices for car accessories and home charging facilities. Tesla has said it plans to start deliveri
China's market regulator on Friday has fined Japanese carmaker Toyota Motor 87.6 million yuan ($12.5 million) for price-fixing on its premium Lexus cars in eastern Jiangsu province, according to a document on its website. The decision comes as China steps up regulation over auto sales in the world's biggest vehicle market, where more than 28 million cars were sold last year. The anti-monopoly bureau of State Administration for Market Regulation said that between 2015 and 2018, the Jap
Japan's Nissan Motor Co has told its managers to slash non-essential spending as the automaker grapples with slumping car sales and tumbling profits, three company sources with knowledge of the matter told Reuters. Managers have been told to put the kibosh on unnecessary travel, sales incentives and promotional events to "conserve every yen," as one source put it. Meetings that three or four people would once have travelled to attend in person, might now only have one Nissan represent