- Chinese shares fell into a bear market as the Shanghai Composite index dropped by 20% from the high it hit on Dec. 22, 2015, the Wall Street Journal writes. The index was down 3.6% on Friday; some analysts blamed a state-run media outlet's report that some Chinese banks were no longer accepting stocks as collateral for loans for the selloff.
- Anglo-Australian miner BHP Billiton (BHP) revealed a $7.2 billion write-down of its U.S. shale oil assets because of the impact of the fall in oil prices. The value of the group's onshore U.S. assets now stands at $16 billion, the Financial Times reports.
- Chinese group Haier is buying the appliances division of Dividend Stock Advisor portfolio holding General Electric (GE) in a bid to expand overseas, the Wall Street Journal reports. The deal is worth $5.4 billion and the two companies will also cooperate globally to expand business in health care, advanced manufacturing and the industrial sectors.
- New car sales jumped by 16.6% in December in the European Union, the strongest monthly increase in 2015, data released Friday show. The strong performance lifted full-year new car sales by 9.3% to 13.7 million. Spain and Italy both posted double-digit increases in registrations, while France, Germany and the U.K. also showed increases.
- French retailer Carrefour (CRRFY) said its performance picked up in key European markets, including France and Italy, while revenue declined in Latin America and China. The retailer's sales for the three months ended Dec. 30 declined by 0.8% to 22.43 billion euros ($20.6 billion) from the same period in the previous year, in line with expectations.
More from China
NIO is trading just below 'new closing high' levels. A similar level was the catalyst for a breakout move in late August.
SMIC and Toshiba affiliate hurt by further export curbs on chipmakers dealing with China.
Ant Group has passed muster for a Shanghai IPO on the STAR Market, which soon should see its first index-tracking exchange traded funds.
Newly formed TikTok Global will remain a Chinese subsidiary, but plans an IPO, while WeChat is spared a U.S. ban by court action.