Volkswagen AG’s sales dropped below the 10 million-car milestone reached last year as the Chinese market slowed and the company’s cheating on diesel emissions deterred customers. Deliveries declined 2 percent to 9.93 million vehicles, including a 5.2 percent drop in December, the Wolfsburg, Germany-based company said Friday in a statement. Source: Bloomberg
Christine Lagarde has stepped down as managing director of the International Monetary Fund, saying she now has more clarity on her nomination to be the next head of the European Central Bank. Source Deutsche Welle
German industrial activity is sluggish and recent data point to slower growth in the service sector, the German Economy Ministry said, adding this suggested Europe’s largest economy would experience a weak general economic trend in the second quarter. German industrial activity is sluggish and recent data point to slower growth in the service sector, the German Economy Ministry said, adding this suggested Europe’s largest economy would experience a weak general economic trend in the second quarter.
- China’s quarterly economic growth fell to 6.2%, the slowest pace of expansion since 1993.
- Analysts say a fierce trade dispute with the U.S. is adding to other factors weighing on the country’s expansion.
- President Donald Trump and Chinese leader Xi Jinping agreed late last month to resume talks in hopes of clinching a trade deal.
Source CBS
