(Reuters) -French automaker Renault and Chinese partner Geely announced a highly anticipated joint venture on Friday that will develop combustion and hybrid engines, aiming to improve the competitiveness of their legacy auto business. The 50-50 venture is a core element of Renault's strategy to stay in the race against larger competitors by signing multiple partnerships to reduce costs and access...

JAKARTA, May 31 (Reuters) - Indonesia will issue copper concentrate export permits for miner Freeport Indonesia and Amman Mineral Internasional, a trade ministry official said on Friday, ensuring that exports by both companies would not be disrupted. Freeport's and Amman's current export permits expire on Friday. The permits will take effect from June 1, Budi Santoso, the trade ministry's director...

BEIJING (Reuters) -China's manufacturing activity unexpectedly fell in May, keeping alive calls for fresh stimulus as a protracted property crisis in the world's second-largest economy continues to weigh on business, consumer and investor confidence. The official manufacturing purchasing managers' index (PMI) dropped to 49.5 in May from 50.4 in April, the National Bureau of Statistics (NBS) said on Friday, below...

CHICAGO (Reuters) - Aircraft shortages are turning into a moneymaker for some airlines as the dearth of supply allows carriers to sell new planes to leasing companies at much higher prices than they paid. Carriers such as Denver-based Frontier Airlines and Hungary's Wizz Air ( WZZAF ) have reported gains up to hundreds of millions of dollars through selling planes...