The United States has reportedly pulled out of talks aimed at overhauling the global tax system for digital giants. France's finance ministry has confirmed to FRANCE 24 that it's received a letter describing an "impasse" on the so-called GAFA tax. The withdrawal risks reigniting a transatlantic trade spat. Also in the show, the European Commission launches an investigation into the proposed merger of carmakers PSA and Fiat Chrysler.
Renault SA Chairman Jean-Dominique Senard promised to improve relations with partner Nissan Motor Co., telling shareholders that broken trust between the companies is reparable and leaving the door open to a future tie up with Fiat Chrysler Automobiles NV.
Renault SA’s alliance with Nissan Motor Co., already stressed by the Carlos Ghosn affair and a failed merger proposal by Fiat Chrysler Automobiles NV, lurched toward a new crisis after developments over the weekend highlighted the deep divide between the two-decade partners. Dave McCombs reports on "Bloomberg Daybreak: Middle East."
PSA Group and Fiat Chrysler are reportedly exploring a partnership to build cars in Europe. Bloomberg has learned the companies are holding preliminary discussions to collaborate on the development of a super platform which is the basic underpinning of any vehicle. The joint venture would be seen as an attempt to reduce costs in a highly competitive region.