Renault shares crashed as much as 17% after the French automaker cut its guidance for the year. Late Tuesday, the company lowered its operating margin guidance for 2025 from at least 7% to 6.5%.

The Financial Times covers key stories including Rachel Reeves' pledge to extend UK's economic reform, the Bank of England's payment system overhaul, Duncan Minto's interim role at Renault, Tim Davie's response to BBC scandals,

Bloomberg journalists discuss today's biggest winners and losers in the stock market. Listen for analysis on the companies making news on Wall Street.

Renault named Duncan Minto as interim CEO on Tuesday to lead the French automaker while it searches for a permanent replacement for Luca de Meo, who departs this week. De Meo resigned suddenly last month after five years at the helm of Renault and will join luxury group Kering in September.

Renault Group has appointed Duncan Minto as its interim CEO, following the recent departure of former boss Luca de Meo. Car Dealer reported last month