France approves €5 billion emergency loan for Renault

PARIS: The French government said Tuesday that it had signed off on a state-backed loan of five billion euros ($5.6 billion) for carmaker Renault, where the coronavirus crisis has compounded months of management turbulence and prompted the company to lay off nearly 15,000 people worldwide. Finance minister Bruno Le Maire approved the loan after a meeting with executives, labour representatives and local...