A measure of stocks across the globe was on track to post its largest weekly loss of the year on Friday while yields in U.S. and German debt were near multi-year lows, after China vowed to retaliate against a possible new round of U.S. tariffs.
The U.S. economy is adding lots of jobs, but a drop in the number of hours at work points to a dimmer outlook for economic growth as businesses brace for an escalating trade war with China.
U.S. stocks tumbled to a one-month low on Friday after a sharp escalation in U.S.-China trade tensions and a tepid July jobs report renewed fears of slowing economic growth and raised bets of further interest rate cuts this year.
JPMorgan was on Friday poised to become the first foreign company to hold a majority stake in a Chinese mutual fund business, two sources said, setting a precedent that one analyst said would trigger a wave of similar transactions.
India’s biggest automaker, Maruti Suzuki India Ltd , has cut the number of workers it employs on temporary contracts following a plunge in vehicle sales, it told Reuters.
The U.S. economy likely will grow at a 1.9% annualized rate in the third quarter, based on the latest data on domestic payrolls, trade and factory orders, the Atlanta Federal Reserve’s GDPNow forecast model showed on Friday.
Oil prices rallied nearly 3% on Friday, a partial rebound from their biggest daily drop in several years on U.S. President Donald Trump’s promise to impose more tariffs on Chinese imports.
Deutsche Bank has set aside over 1 billion euros ($1.1 billion) to cover the cost of offloading derivatives in its ‘bad bank,’ or capital release unit, three sources at the bank told Reuters.
Amazon.com Inc is in talks with Reliance Industries Ltd’s retail unit to buy a stake in India’s biggest brick-and-mortar retailer, two sources with knowledge of the talks told Reuters on Friday.
U.S. President Donald Trump on Thursday accused his Chinese counterpart of failing to meet promises to stem a deluge of the synthetic opioid fentanyl into the United States, after months of praising Chinese President Xi Jinping for his pledges.
U.S. job growth slowed in July and manufacturers slashed hours for workers, which together with an escalation in trade tensions between the United States and China could give the Federal Reserve ammunition to cut interest rates again next month.
U.S. consumer sentiment held steady in late July from earlier in the month as optimism about personal finance offset uncertainties about the trade conflict between Washington and Beijing, a private survey released on Friday showed.
Apple Inc could see a hit to its annual earnings from U.S. President Donald Trump’s newly proposed 10% tariff on Chinese imports from September 1, analysts from Bank of America Merrill Lynch said on Friday.
Wall Street’s main indexes sank to one-month lows on Friday after a sharp escalation in U.S.-China trade tensions and tepid job growth in July reinforced fears of a global economic slowdown.
Volvo Cars, owned by China’s Geely [GEELY.UL], has produced the first cars containing recycled cobalt mapped using a blockchain, and has joined a separate project to monitor cobalt from Democratic Republic of Congo, Volvo said.
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