Renault, the Western carmaker most exposed to the Russian market, posted a drop in first quarter revenues compared to a year earlier, as the conflict in Ukraine and problems with supplies of semiconductor hit the market. The group, which also produces Dacia and Lada brand vehicles, said its sales fell by 2.7% from a year earlier to 9.748 billion euros ($10.6 billion). Excluding the activities of Avtovaz and Renault Russia, it stood at 8.9 billion euros, down by 1.1%.

(Reuters) -Oil prices extended losses on Friday, heading for a 4% weekly drop and burdened by the prospect of rate hikes, weaker global growth and COVID-19 lockdowns in China hurting demand, even as the European Union weighed a ban on Russian oil.

Germany's industrial heavyweights are teaming up to retrain workers in areas such as software and logistics to fill a growing skills gap and avoid layoffs among workers of all ages as the economy shifts to clean energy and online shopping.

BOAO, China (Reuters) -China's central bank chief pledged on Friday to keep policy accommodative to support the slowing economy, with steps such as helping small firms and sectors hit by COVID-19 outbreaks, reinforcing expectations it will roll out more modest easing steps.

Expectations that a hawkish Federal Reserve will cause an economic slowdown are pushing some investors to increase exposure to long-term Treasuries, as policymakers continue signaling they are ready to ramp up their fight against inflation.

TOKYO (Reuters) -Japan's government will raise the cap for gasoline subsidies and replenish state reserves by compiling an extra budget to cushion the economic blow from rising raw material costs, a draft of its planned relief package obtained by Reuters showed on Friday.