Renault reports record $8 billion first-half loss

Renault swung to a record first-half loss as the French automaker grappled with a sharp market downturn and increasingly dismal results from partner Nissan.

The 7.29 billion euro ($8.58 billion) net loss underlines the challenges facing the automaker, which is slashing costs and trying to repair relations with its Japanese alliance partner. It refrained from giving any financial guidance for the year except to say it’s on track on cost savings.