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Barney's, an upscale men's store, filed for bankruptcy in 2019 and plans to close this year. The store, founded in 1923, introduced expensive brands, including Armani, Comme des Garcons and Christian Louboutin.

Baoshan Iron&Steel Co Ltd cut its costs by 4.1 billion yuan in the first half of this year, through cutting costs related to investment, labor, technology and purchasing.

Barnes & Noble announced in January that it plans to spin off its Nook business, and with today’s news that’s still a possibility. Obviously, Microsoft is now in the driver’s seat if it were to pursue an outright acquisition, bolstering its 17.6 percent stake.

Batteries, which account for roughly half of a car's cost, have seen rapid progress in recent years as companies try their best to extend driving range.

Banga added it was just another step in the process that will likely play out in the next 12 to 18 months as there were several review cycles from the Chinese regulators.