Reuters

BEIJING (Reuters) - Apple has launched an aggressive discounting campaign on its official Tmall site in China, offering discounts of up to 2,300 yuan ($318) on select iPhone models.

The discounting comes as the U.S. tech giant seeks to defend its position in the high-end smartphone market, where it faces increasing competition from local rivals such as Huawei.

Running from May 20 to May 28, it is more substantial than the one Apple... (continue reading...)

By Florence Tan

SINGAPORE (Reuters) -Oil prices extended gains on Monday amid political uncertainty in major producing countries after Iran's president died in a helicopter crash and Saudi Arabia's crown prince cancelled a trip to Japan, citing issues with the king's health.

Brent gained 41 cents, or 0.5%, to $84.39 a barrel by 0632 GMT, after rising to $84.43 earlier, its highest since May 10.

U.S. West Texas Intermediate... (continue reading...)

(Reuters) - Activist investor Elliott Investment Management has built a position worth over $1 billion in Johnson Controls International Plc, Bloomberg News reported on Sunday.

The Bloomberg report also said that Elliott's intentions behind the stake in the building solutions provider couldn't immediately be learned.

Elliott and Johnson Controls didn't immediately respond to a Reuters request for comment. The investor's move follows... (continue reading...)

By Nick Carey and Marie Mannes

LONDON (Reuters) - Tesla is working to appease some European leasing companies after the automaker’s repeated retail price cuts tanked their fleets’ value and its slow service and expensive repairs alienated their corporate customers.

The efforts include unofficial discounts on purchases of new cars if they are in stock and efforts to address widespread service, repair and ordering complaints after years... (continue reading...)

BEIJING (Reuters) - Volkswagen's premium brand Audi said on Monday it would jointly develop a new China-specific platform for intelligent and electric vehicles with its Chinese joint venture partner SAIC.

The move, coming about 10 months after VW's landmark Chinese partnership deal, highlights mounting pressure on western brands and legacy automakers to rejig to survive an intensifying EV race in the world's largest auto market.

Audi has... (continue reading...)