Larmakers Renault, Nissan and Mitsubishi Motors announced the creation of a joint board Tuesday, as they seek to plot a future for their alliance after the downfall of former boss Carlos Ghosn.

The new board structure will be headed by Renault Chairman Jean-Dominique Senard and replaces two previous bodies based in the Netherlands -- one joining Renault and Nissan, the other combining Nissan and Mitsubishi Motors.

Trade tensions between the US and China will hammer air cargo this year, an industry body warned Tuesday, the latest sign the tariff slugfest is damaging the global outlook. 

Crude production is set to continue expanding in the United States thanks to shale oil, with the country becoming a net exporter from 2021, a development which should reinforce global energy security, the IEA said Monday.

Tumbling shares in U.S. aviation giant Boeing on Monday tore a hole in the Dow Jones Industrial Average, sending the benchmark index into the red for a sixth day.

Electric carmaker Tesla is reversing course on its decision to move most of its sales online, saying it will keep many of its showrooms open -- but will need to hike prices to do so.

Turkey's economy fell into its first recession in a decade, official data showed on Monday, just weeks before President Recep Tayyip Erdogan's government faces local elections when growth and inflation will be key issues for voters.

A Japanese court on Monday barred Carlos Ghosn from attending a Nissan board meeting, as the bailed former chairman prepares his defense against charges of financial misconduct.

"As treasurer of my stokvel, I had to go to the bank almost every day to find out what is happening," said Annah Muambadzi, 65, of the panic that gripped her savings club.

With an increasing number of U.S. businesses no longer accepting cash, Philadelphia -- the City of Brotherly Love -- is taking a stand to protect the so-called "unbanked" and will force merchants to accept greenbacks.

Italy's Prime Minister Giuseppe Conte appears to have headed off a crisis over the disputed Turin-Lyon high-speed rail project that threatened to split the coalition government, Italian media reported Sunday.

Conte, a trained lawyer, helped draft a legal document late Friday to find a way out of the conflict between coalition partners the far-right League and the anti-establishment Five Star movement (M5S), said Italian daily Corriere della Sera.