Afternoon Coffee: France Considers Import Ban on US Shale Gas, Nissan Buys 34% Stake in Mitsubishi

Marco Mayer/ Adobe Stock Marco Mayer/ Adobe Stock

France is considering a ban on U.S. imports of of shale gas due to France’s anti-hydraulic fracturing stance. French Energy Minister Segolene Royal is investigating legal means to place such a ban on shale gas imports.

Nissan will is buying a 34% controlling stake in Mitsubishi Motors Corp. for $2.18 billion, becoming Mitsubishi's largest shareholder. The deal comes in the middle of Mitsubishi's fuel economy scandal.

Apple suppliers such as Foxconn Technology Group and Sharp Corp. reported weak earnings due to a lag in smartphone growth. Foxconn reported a drop of 9.4% or $847.1 million in net profit for the first quarter and Sharp said its display unit lost $1.19 billion in its fiscal year ending in March.

U.S. import prices increased in April 0.3% thanks in large part to a rise in the price of petroleum products, the Labor Department reported today. Import prices are down 5.7%, however, for the last 12 months.

 

 

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