The boss of French state-backed car giant Renault has quit unexpectedly after warning that European manufacturers were struggling to compete with cut-price Chinese rivals.

Despite recent divestments, Nissan's CEO insists the move from Renault is strategic, not a breakup. Discover what this means for the future of their enduring automotive alliance.

Shares in Kering rose in early trading on Monday after Le Figaro reported that Luca de Meo would become the new CEO of the luxury goods maker, after he turned around troubled automaker Renault in his five years at the helm.

Reports of de Meo’s switch to Kering sent the luxury group’s shares up by nearly 12% on Monday, recording their biggest one-day percentage gain since November 2008.

Nissan Motor reportedly plans to trim its stake in French partner Renault in order to invest more in new vehicle development. In an interview with Nikkei, Nissan CEO Ivan Espinosa emphasised that the Japanese automaker's collaboration with Renault would continue to be robust,

TOKYO (Reuters) -Nissan Motor CEO Ivan Espinosa said the automaker plans to reduce its stake in French partner Renault, the Nikkei business newspaper reported on Monday. Nissan and Renault had said in March they had agreed to reduce their required minimum stake in each other to 10% from 15%.

An activist investor has built a stake in the lingerie retailer, with plans to push the company to refresh its board and refocus on its [core bra business](

The facelifted iterations of Renault Kiger and Triber are expected to receive styling as well as feature upgrades.