BMW opens Mexico plant amid US tariff threat - Fiat Chrysler merger talks with Renault collapse - Trump threatens China with even more tariffs
Fiat Chrysler has abandoned its merger offer for Renault which would have created the world's third-largest automaker, after Volkswagen and Toyota. "Political conditions" in France were blamed.
Fiat Chrysler says it wants to merge with Renault to create an auto behemoth and better face the stark challenges confronting the auto industry. Despite the synergies, the road to the tie-up is paved with obstacles.
The French Senate endorsed the so-called GAFA act which would target Google, Apple, Facebook, Amazon, and other major tech companies with a 3% percent tax. It's the first time a major nation has passed such a bill.
World leaders are gathering in Japan for what is expected to be a highly divisive G20 summit. Tensions over Iran and the long-running trade war between China and the US loom large over this year's meeting.
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