China's Zhejiang Geely Holding Group Co. reached a deal with Ford Motor Co. (F) on intellectual-property rights in its bid for Volvo unit, reports said. Geely reportedly said it remained the preferred bidder for Volvo. Volvo will be able to use Ford's IPR that is needed for to continue its existing business plans.
Ford Motor said in October that it had chosen a consortium led by China's Zhejiang Geely Group Holding Co. Ltd. as its preferred bidder in the ongoing talks concerning the possible sale of its fully owned Volvo Car Corporation. According to Ford, Geely can be a responsible future owner of Volvo which will take the business forward while preserving its core values and the independence of the Swedish brand.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.