Renault to explore hybrid vehicles with Geely

BEIJING/SHANGHAI, Aug 9 (Reuters) – Renault (RENA.PA) and Geely said on Monday they would jointly develop petrol-electric hybrid vehicles for China and South Korean markets, as the French automaker revives plans for the world’s biggest car market after exiting a Chinese venture last year.

S&P downgrades China Evergrande again to ‘CCC’

S&P Global has downgraded the ratings of heavily indebted developer China Evergrande Group (3333.HK) and its subsidiaries, citing an escalating risk of non-payment of debt, its second downgrade in less than two weeks.