Here are news stories, press reports and events to watch which may affect the auto industry, transportation and energy markets on Friday.
WORLD OIL PRICES
Brent crude slipped below $101 a barrel on Friday as China grew at its slowest pace in three years, reinforcing fears that a global economic slowdown could hurt fuel demand.
Europe’s largest automotive group sold 1.3 million cars in mainland Chinaand Hong Kong in the first half of the year, up 17.5 percent from a year earlier.
General Motors Co pushed aside another chief executive at Opel as it moves to reverse 12 years of losses in Europe.
Aircraft makers Airbus and Boeing, left a rain-swept Farnborough Airshow with the U.S. rival winning 50 percent more firm orders than Airbus, including a $14.7 billion bulk buy from United Continental.
Oil major Shell extended for a fourth time the deadline for Cove shareholders to accept its $1.8
billion offer, continuing to leave the door open for it to trump a higher bid from a rival suitor as the takeover battle enters its final stages.
Shell has been vying against Thai group PTT Exploration &Production for control of Cove since February, as the two fight for access to Cove’s stake in huge gas fields off the coast of Mozambique.
DAIHATSU BOOSTS INVESTMENT TO $300 MLN
Japanese car maker Daihatsu Motor Co will boost its investment in Indonesia up to $300 million as the firm plans to set up a research and development centre in Karawang, West Java, worth $66.7 million, said Sudirman Maman Rusdi, CEO of PT Astra Daihatsu Motor.
The construction of Poland’s first liquefied natural gas (LNG) terminal is late by four months due to financial problems at Italy’s Saipem and Poland’s PBG, which are carrying out the contract, Rzeczpospolita reported.
EAST AFRICA RAILWAY
Rift Valley Railways is to spend $62 million buying new wagons and restoring old ones to help it win a bigger share of the region’s freight market, the Kenyan firm said on Thursday.
South Africa’s PetroSA is in talks to buy assets in Ghana from Sabre Oil and Gas, including a stake in the lucrative Jubilee field, the head of the government-owned oil group said on Thursday.
CAMEROON OIL TERMINAL
The Cameroon state oil company said it had reached an agreement with independent producer Perenco to buy a 1.8 million barrel floating oil storage and loading terminal and erect it in the Rio del Rey basin, where it will help oil companies cut costs.
Turkish vehicle production fell 13 percent year-on-year to 95,351 units in June, the Automotive Manufacturers Association (OSD) said on Friday.
The Competition Board has decided to open an investigation into whether the oil refiner and petrol station firm Opet Petrolculuk violated competition law and has asked Tupras to submit its defence, the refiner said in a statement.
PSA PEUGEOT CITROEN
The French automaker, which has announced 8,000 job cuts and a plant closure as it struggles with mounting losses, is not going to seek aid from the French government, Chief Executive Philippe Varin said on Thursday.