Here are news stories, press reports and events to watch which may affect the auto industry, transportation and energy markets on Thursday.
WORLD OIL PRICES
Brent crude stayed above $112 a barrel on Thursday on hopes of more stimulus from China to support economic growth and fuel demand at the world’s second largest oil consumer.
ROMANIA H1 ENERGY PRODUCTION DOWN 1.8 PCT Y/Y
Romania’s energy production fell 1.8 percent on the year in the first half, while imports were down 4.7 percent, data from the National Statistics Board showed on Wednesday.
Romania’s dependency on energy imports will rise from very low levels at present to nearly half of consumption by 2030, said Mariana Gheorghe, the chief executive of the country’s top oil and gas firm Petrom.
VOLKSWAGEN, PORSCHE SE
A New York state court rejected a motion by Porsche Automobil Holding SE to dismiss a $1.4 billion-plus lawsuit brought by 26 hedge funds alleging fraud and unjust enrichment stemming from the company’s trading in Volkswagen voting shares in 2008.
Germany’s second biggest airline posted a wider second-quarter loss due to soaring fuel costs, the euro’s weakening against the U.S. dollar and a German air travel tax.
A disappointing second quarter result from the Scandinavian airline could advance plans to find new owners for the company, business daily Borsen said.
The Finnish tyre maker is in talks with three countries about building a new plant, daily Aamulehti reported.
Chief Executive Kim Gran told the paper the firm is negotiating with Serbia, another Eastern European country, but not with Slovenia, and a country in Far East.