Crude prices edged higher on Friday, but were heading for yet another weekly decline on worries that oversupply would weigh on the U.S. market and that trade disputes and slowing global economic growth would slow demand for oil.
U.S. President Donald Trump on Friday said meetings with corporate executives had prompted him to ask the U.S. Securities and Exchange Commission (SEC) to study letting public companies file financial reports every six months instead of every quarter.
Brazilian meatpacker Marfrig Global Foods SA has agreed to sell its U.S. subsidiary, a key McDonald’s supplier, to Tyson Foods Inc for $2.5 billion, two people with knowledge of the matter told Reuters on Friday.
The Nasdaq fell on Friday as weak forecasts from chipmakers Nvidia and Applied Materials pushed technology stocks lower, while gains in the defensive telecoms and consumer staples companies helped buttress the S&P 500 and the Dow Industrials.
NEW YORK – Another steep decline in the Turkish lira on Friday pushed emerging market equities lower and kept other world markets cautious, overshadowing hopes that an upcoming U.S.-China meeting would relieve concerns over trade tariffs.
Tesla Inc’s shares slumped 8 percent on Friday after Chief Executive Elon Musk told the New York Times his tweet about taking the company private was not reviewed by anybody, and a brokerage raised doubts about the profitability of the electric carmaker’s Model 3 sedan.
A Malaysian financier wanted for his role in the multi-billion-dollar scandal at state fund 1MDB has said he does not expect to get a fair hearing anywhere and will not present himself to any country where his guilt has been predetermined.
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Brazilian meatpacker Marfrig Global Foods SA’s shares rose as much as 8 percent on Friday on reports that Tyson Foods had finalized the acquisition of Marfrig’s U.S. chicken processor Keystone Foods.
The Nasdaq Composite opened lower on Friday as weak forecasts from Applied Materials and Nvidia weighed on chip stocks, while gains in energy stocks due to rising crude prices helped the S&P and the Dow Industrials cut their losses.
Fears of e-commerce taking off in Brazil have sunk shares of the country’s big mall operators this year, but industry executives expressed confidence that local shopping habits, the reputation of malls as public spaces safe from crime and other factors will help them avoid the shakeout that has hit their U.S. peers.
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NEW YORK (LPC) – Bank lending to high-quality US companies to fund acquisitions has slowed due to concern over government policies amid the summer doldrums, but is expected to pick up after the Labor Day holiday, bankers said.
Britain’s markets watchdog has so far been contacted by only one company interested in taking advantage of a rule it introduced to attract state-owned firms like Saudi Aramco to London, the regulator told Reuters without naming the firm.
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