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 oil rose more than a dollar to above $92 per barrel on Friday after European leaders agreed on steps to tackle the region’s intractable crisis in a move that could lift the global economy and fuel demand, while supply disruptions also aided.
* India’s state-run fuel retailers will cut gasoline prices by 2.46 rupees ($0.04) per litre from Friday, Indian Oil Corp said, responding to softer global oil and petrol prices.
China’s Xinjiang Goldwind Science & Technology Co , China’s second-biggest wind turbine maker, said it has sold its 19.5 megawatt Mortons Lane wind farm in Australia to CGN Wind Energy Ltd (CGNWE), a unit of China Guangdong Nuclear Power Group.
Petroliam Nasional Bhd, Malaysia’s state-owned oil and natural-gas company, agreed to buyProgress Energy Resources Corp. (PRQ) for C$4.8 billion ($4.6 billion), in its biggest deal as it moves to export Canadian gas to Asia.
Germany’s BMW is expanding a tie-up with Toyota Motor on hybrid and fuel-cell vehicle technology as the global automakers push further into the “green” market.
German luxury carmaker Daimler said on Friday its Japanese truck unit Mitsubishi Fuso has reached a memorandum of understanding (MoU) with Nissan Motor on the mutual supply of light-duty trucks in Japan.
Ford Motor Co. (F), the second-largest U.S. automaker, said its pretax operating profit will be “substantially lower” in the second quarter in part because overseas losses tripled from the year’s first three months.