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Renault could disappear if it does not get help very soon to cope with the fallout from the coronavirus crisis, France's Finance Minister Bruno Le Maire said on Friday, while adding the carmaker also needed to adapt to the situation.

The banks that lent $518 million to Luckin Coffee Chairman Charles Zhengyao Lu have started court proceedings to liquidate his private company, a government gazette for the British Virgin Islands showed.

Global shares tumbled on Friday as Hong Kong's political unrest returned as a flashpoint in fast-deteriorating U.S.-China relations, following Beijing's moves to impose a new security law on the city.

Oil prices fell on Friday as tensions rose between the U.S. and China and as Beijing failed to set target for economic growth this year, stoking concern that the coronavirus pandemic will overshadow fuel demand in the world's second-largest oil user.

Vodafone , the world's second-biggest mobile operator, has recruited Jean-Francois Van Boxmeer, the current CEO of brewer Heineken , to succeed Gerard Kleisterlee as chairman from November this year.

France's Finance Minister Bruno Le Maire said on Friday that Renault could disappear if it does not get help very soon to cope with the fallout from the coronavirus crisis, while adding that Renault also needed to adapt to the situation.

China's biggest automaker SAIC Motor expects the nation's auto sales to post year-on-year growth in the second quarter due to recovering demand and supportive policies, its chairman said on Friday.

President Donald Trump traveled on Thursday to the crucial U.S. election battleground state of Michigan to visit a Ford Motor Co plant amid tensions with its Democratic governor during the coronavirus pandemic, opting not to wear a protective face mask for the cameras.

Pharmaceutical group Roche has acquired U.S.-based Stratos Genomics to further develop DNA-based sequencing for diagnostic use, it said on Friday.

Global equity markets have shuffled up about 1% this month despite the world starting to re-open after the coronavirus-driven lockdowns and U.S. and European economic data showing glimmers of a recovery.

Oil prices fell on Friday after China failed to set an economic growth target for 2020, sparking concerns that the fallout from the coronavirus pandemic will cap fuel demand in the world's second-largest oil user.

Australian retail giant Wesfarmers Ltd said it will close or rebrand nearly two-thirds of its Target department stores and take one-off charges totalling up to A$650 million ($426 million) as it reels from the coronavirus fallout.

Oil prices slumped on Friday after China's decision to omit an economic growth target for 2020 renewed concerns that the fallout from the coronavirus pandemic will continue to depress fuel demand in the world's second-largest oil user.

General Motors Co said on Thursday it was gradually restarting the transmission and motor lines at its Mexican facilities in Silao and Ramos Arizpe, while U.S. auto parts maker Lear Corp also geared up for production.

Hong Kong shares tumbled on Friday after Beijing moved to impose a new security law on the city after last year's pro-democracy unrest, risking fresh protests and further straining fast-deteriorating U.S.-China ties.

A decision on a key legal aspect of the trial over whether Huawei Technologies Chief Financial Officer Meng Wanzhou can be extradited to the United States from Canada will be announced next Wednesday, the British Columbia Supreme Court said on Thursday.

The United States has secured almost a third of the first 1 billion doses planned for AstraZeneca's experimental COVID-19 vaccine by pledging up to $1.2 billion, as world powers scramble for medicines to get their economies back to work.

Facebook Inc will permanently embrace remote work even after coronavirus lockdowns ease, Chief Executive Mark Zuckerberg said on Thursday, accelerating the tech sector's geographic diversification away from its home in Silicon Valley.

Institutional Shareholder Services (ISS) has recommended shareholders of Google-parent Alphabet Inc to vote "against" the company's proposed executive pay at its annual meet in June, according to a report seen by Reuters on Thursday.

Oil prices were on the rise on Friday, heading for a fourth straight week of gains, amid more evidence that fuel demand is recovering as countries ease business and social restrictions that were imposed to counter the coronavirus pandemic.