Car sales tumbled in April at the sharpest rate since 2010 as government cuts to subsidies for green cars and a rise in prices hit the market for new vehicles. New car registrations fell month on month by almost 20% to 152,076 units as demand for electric and hybrid vehicles fell for the first time in almost four years. Source The Guardian
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Italy’s economy minister sought to reassure investors on Thursday that they will not be hit in a rescue of two ailing regional banks, Popolare di Vicenza and Veneto Banca, after fears of a full “bail-in” hit the lenders’ debt. Source Reuters
SHANGHAI, May 26 China’s yuan on Friday extended the previous day’s big gain, hitting its strongest level in more
than three months, and the Chinese currency was on track for its best week since mid-January. Source Reuters
A top adviser to Donald Trump confirmed that the U.S. president had criticized Germany as “very bad” on trade at a meeting with EU officials in Brussels. “He said they’re very bad on trade, but he doesn’t have a problem with Germany,” White House economic adviser Gary Cohn told reporters at a Group of Seven summit in Sicily. Source Reuters