Global markets

audio interview features Chris Bowers, Managing Director of UK-based CMB Automotive Marketing Ltd., and a global automotive marketing and communications expert.In the 13-minute audio interview, Bowers discusses these questions:* On the surface, it seems like a good idea to cut marketing spend in a recession. Why is that not the case?* Do you have any examples of how this approach has worked?* What are the marketing opportunities for auto companies in the current downturn?* What other benefits are there of continuing marketing during a recession?* Do you have any recommendations?Also Read: Drive to survive: The role of automotive supply chain finance in helping the industry's comeback globally - Audio interview … [Read more...] about How marketing during a recession will help global automotive companies to thrive: Audio interview

audio interview features Simon Kessler, Managing Director at Greensill. Kessler joined Greensill in January 2020 to lead the firm’s origination in the global Mobility & Automotive Industry.Prior to that he spent more than 12 years in senior positions at Citigroup in Germany and Singapore; most recently, he was the Automotive Industry Head, Corporate & Investment Banking Asia-Pacific, covering the industry across 15 markets.In the 14-minute audio interview, Kessler discusses these questions:* Covid-19 has brought the global auto market to a standstill – what are the biggest challenges you see for the industry?* What do you see as the immediate consequences for suppliers?* How can Supply Chain Finance help OEMs and suppliers get through this crisis and flourish in the future?* What do you see as the implications for the future of the industry?Also Read: Impact of USMCA on the global automotive supply chain: Audio interview … [Read more...] about Drive to survive: The role of automotive supply chain finance in helping the industry’s comeback globally – Audio interview

SINGAPORE: BP delivered 3 million barrels of Iraqi oil to the Shanghai International Energy Exchange (INE) this month, becoming the first major global trader to make a physical delivery since China launched the futures market in 2018, industry sources said on Tuesday.There have been a flurry of deliveries since May as strong buying by Chinese financial investors drove INE futures to a premium over Brent futures, making it profitable for traders to deliver into the contract.The two markets have largely converged since late June, and the contract for the INE front month, August, is now trading below the Brent front month, September.Two sources with knowledge of the matter said BP delivered 3 million barrels of Iraqi oil Basra Light into an INE storage facility in east China's Shandong province earlier this month.BP is set to deliver another one million barrels of Abu Dhabi Upper Zakum crude under an August contract, said the two sources.INE and BP declined to comment.Swiss commodities … [Read more...] about BP, Mercuria first global firms delivering oil into Shanghai contract: sources

Spot crude oil prices continued to rise in June for the second consecutive month, driven by a drop in global oil surplus, further improvements in oil market fundamentals, as well as expectations that the oil market would tighten further in the second quarter of this year, the report said. … [Read more...] about Global oil demand to record historic growth in 2021: OPEC

By Foo Yun CheeBRUSSELS: Alphabet Inc's Google has offered not to use health data of fitness tracker company Fitbit to help it target ads in an attempt to address EU antitrust concerns about its proposed $2.1 billion acquisition, the U.S. tech company said late on Monday.The bid, announced in November last year, would help Google take on market leader Apple and Samsung in the fitness-tracking and smart-watch market, alongside others including Huawei and Xiaomi."This deal is about devices, not data. We appreciate the opportunity to work with the European Commission on an approach that safeguards consumers' expectations that Fitbit device data won't be used for advertising," Google said in an emailed statement to Reuters. Reuters reported last week that such a data pledge may likely help Google secure EU approval for the deal.With just 3% of the global wearables market as of the first quarter of 2020, Fitbit is far behind Apple's 29.3% share and also trails Xiaomi, Samsung and Huawei, … [Read more...] about Google offers data pledge in bid to win EU okay for Fitbit buy