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 $100 per barrel on Thursday, after a more than 2 percent rally in the prior session, as uncertainty over whether the U.S.
Federal Reserve would launch more stimulus measures curbed investor appetites for riskier assets.
OIL FROM RUSSIA: The oil flow via the Druzhba pipeline from Russia remains curbed although the situation has improved somewhat in June. The outage is offset by a higher volume coming
via the IKL pipeline.
Indicated 0.3 percent lower
CEO Reithofer told daily Handelsblatt BMW remained on track to achieve record high vehicle sales in 2012, driven by demand from China and despite weakness in its European business.
VESTAS WIND SYSTEMS
The Danish wind turbine manufacturer is postponing the launch of a prototype of a 7.0 megawatt turbine until some time in 2014, daily Jyllands-Posten said. The management had originally said it would launch the prototype at the end of this year.
Pirelli plans to build a tyre factory worth $126 million in Indonesia.
Peugeot cuts 8,000 jobs to end losses, shuts plant
French automaker PSA Peugeot Citroen (PEUP.PA) announced 8,000 job cuts and the closure of an assembly plant as it struggles with mounting losses at the core automotive division.
– UEA AND INDIA’S FIRMS TO INVEST $4.76 BLN IN KALIMANTAN
Two firms plan to spend $4.76 billion in East Kutai, Kalimantan constructing a rail road, coal terminal, steam power plant and smelter, said Governor Awang Faroek. The firms are UAE-based coal miner Rhais Al Khaima and National Aluminium Co Ltd, an Indian manufacturer and distributor of aluminium products.
* Stocks of Chinese automakers are set to be in focus as China’s automobile sales growth lost further momentum as the country’s slowing economy sapped consumer sentiment. Overall sales, including those of passenger cars and commercial vehicles, grew 2.9 percent in the first half from a year earlier
to 9.6 million vehicles, data released Wednesday by the China Association of Automobile Manufacturers (CAAM) showed.
Chevron Corp. left workers pleading to be evacuated from a gas exploration platform off Nigeria which kept drilling while smoke poured from a borehole until an explosion killed two people as the rig became engulfed in flames, according to accounts from four of the platform’s workers.