German auto supplier Continental <CONG.DE> on Wednesday said it would pare back its engine manufacturing activities as more stringent emissions rules threaten demand for combustion engine components, resulting in around 5,040 job losses by 2028. Continental said around 520 jobs will be lost when a site in Roding, Germany – which makes hydraulic components for petrol and diesel engines – is closed down in 2024. Source EuroNews
The French government said Wednesday it was girding for a possible surge in coronavirus cases in coming months but would not respond to any new outbreak with another nationwide lockdown. Source France24
The US economy added a record 4.8 million jobs last month as the nation continued an economic rebound that’s now threatened by a surge in coronavirus infections, new data show. Source New York Post
Shell, one of the world’s largest oil companies, has warned that the low price of oil could reduce the value of its assets by up to $22bn (£17.9bn). It said it expects oil to change hands at $60 per barrel in the long term and to be priced at $35 this year and $40 next year. Source BBC
