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FedEx Corp said an “operational error” caused a Huawei Technologies Co Ltd phone to not be delivered to the United States and the package delivery company apologized for the error, the Global Times reported on Sunday. Press Release Distribution Service

The U.S. Federal Aviation Administration (FAA) issued an emergency order on Thursday prohibiting U.S. air carriers from flying in Iran-controlled airspace over the Strait of Hormuz and Gulf of Oman due to heightened tensions. Press Release Distribution Service

Some global airlines are re-routing flights to avoid Iran-controlled airspace over the Strait of Hormuz and Gulf of Oman, they said on Friday, after the U.S. aviation regulator barred its carriers from the area until further notice. Press Release Distribution Service

Oil prices reversed earlier gains on Friday but benchmark Brent crude was still set for its first weekly gain in five weeks amid rising tensions in the Middle East and on hopes for a drop in U.S. interest rates that may stimulate global growth. Press Release Distribution Service

​Chevron Phillips Chemical Company, a joint venture between Chevron Corp and Phillips 66, has offered to acquire Nova Chemicals Corp for more than $15 billion including debt, people familiar with the matter said on Thursday. Press Release Distribution Service

Oil prices rose nearly 2% on Thursday on signs of improving demand in the United States, the world’s biggest crude consumer, and as OPEC and other producers finally agreed to a date for a meeting to discuss output cuts. Press Release Distribution Service

In China, the sales maxim of ‘know your customer’ is being taken to new lengths. Press Release Distribution Service

China and the United States are rekindling trade talks ahead of a meeting next week between Presidents Donald Trump and Xi Jinping, cheering financial markets on hopes that an escalating trade war between the two countries would abate. Press Release Distribution Service

China’s Ministry of Commerce said on Wednesday it will maintain anti-dumping and anti-subsidy tariffs on imports of U.S. distillers grains (DDGs), a by-product of ethanol production used in animal feed, after closing a review launched in April. Press Release Distribution Service

Most Asian stock markets rose on Tuesday but gains were capped by investor caution ahead of a U.S. Federal Reserve policy decision, while crude oil prices dipped as global growth worries overshadowed supply concerns. Press Release Distribution Service

Renault’s alliance with Japanese partner Nissan remains French Finance Minister Bruno Le Maire’s priority ahead of any further consolidation with the likes of Fiat-Chrysler, he said on Tuesday. Press Release Distribution Service

China’s Huawei Technologies Co Ltd expects sales this year and next year at around $100 billion, its chief executive Ren Zhengfei said on Monday. Press Release Distribution Service

Airbus will launch a long-range version of its A321neo passenger jet at Paris Airshow and will announce close to 200 orders over the week, sources familiar with the matter said. Press Release Distribution Service

Target Corp on Saturday said its payment registers were back online after a systems outage stopped customers in the United States from paying for in-store purchases. Press Release Distribution Service

India will impose higher retaliatory tariffs on 28 U.S. products including almonds, apples and walnuts from Sunday, following Washington’s withdrawal of key trade privileges for New Delhi. Press Release Distribution Service

With President Donald Trump’s trade policies heightening fears of a U.S. recession, expectations of a Fed rate cut have dramatically increased in the past month. Money market pricing became even more aggressive after Federal Reserve Chair Jerome Powell threw open the door to a cut, promising on June 4 the Fed would act “as appropriate”…

NATO faces significant costs if it does not act soon to choose a successor for its ageing fleet of 14 Boeing E-3A Airborne Warning & Control System (AWACS) surveillance aircraft, often called the alliance’s “eyes in the sky”, senior officials said. Press Release Distribution Service

Nissan Motor Co is considering giving its alliance partner Renault SA some seats on planned oversight committees after the French automaker expressed discontent with the envisioned governance reform, a source said. Press Release Distribution Service

Cracks have appeared in the support base for a proposed Hong Kong law to allow extraditions to China, with local media reporting the city’s government will suspend the bill after widespread anger and violent protests. Press Release Distribution Service

Volkswagen said on Friday that it aims to raise up to 1.9 billion euros ($2.1 billion) by floating a stake of at least 10% in its Traton trucks unit later this month, its second attempt to bring the business to market. Press Release Distribution Service

Shared office space manager WeWork Cos is exploring a deal to take majority control of its affiliate WeWork India ahead of the New York-based company’s plans to go public, Bloomberg reported on Thursday, citing people familiar with the matter. Press Release Distribution Service

Jets used for corporate travel by Russian state-owned oil major Rosneft flew at least 13 times to Mallorca, Ibiza, Sardinia and the Maldives when CEO Igor Sechin or people from his social circle were in the same vacation spots. Press Release Distribution Service