Year: 2019

Saudi state oil company Aramco said it will bring back by end September full crude output at Abqaiq and Khurais, the two oil facilities damaged by attacks last weekend that U.S. officials have blamed on Iran.

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U.S. shale producers pounced on the chance to lock in future revenue for this year and next after oil prices surged by the most in 30 years early this week following attacks on Saudi Arabia’s oil facilities, sources familiar with the money flows said.

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Facebook Inc said on Friday it has suspended tens of thousands of apps on the social networking platform, as part of the company’s ongoing app developer investigation it began in March 2018 in response to the Cambridge Analytica row.

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A new California law designed to limit the use of “gig” workers threatens to drive up labor costs for companies that rely on inexpensive freelance drivers to make fast deliveries of everything from restaurant meals to household goods.

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Walmart Inc on Friday sent an internal memo to its staff saying the retailer will discontinue the sale of e-cigarettes and electronic nicotine delivery products at its U.S. stores.

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Wall Street’s main indexes dropped sharply on Friday after Chinese agriculture officials who were due to visit U.S. farm states next week canceled their trip to Montana, dampening early optimism on U.S.-China trade talks.

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U.S. President Donald Trump said his administration was “making a lot of progress” with China on Friday, as deputy-level trade talks continued for a second day and Washington lifted tariffs on over 400 Chinese products.

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Cosmetics maker L’Oreal said on Friday it had reached a settlement with French tax authorities regarding three of its subsidiaries, including one linked to its luxury Lancome brand, resulting in a charge of around 320 million euros.

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Boston Federal Reserve President Eric Rosengren on Friday said he might temper his opposition to interest rate cuts if he starts to see weakness in consumer spending.

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After delivering a split-decision rate cut earlier this week, U.S. Federal Reserve officials put their divisions over the state of the economy and what should be done about it on full display Friday with warnings of a slowdown and financial risks bookending talk of how well things are going.

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Rep. David Cicilline, chair of the House Judiciary Committee’s antitrust panel, said on Friday that Facebook Chief Executive Mark Zuckerberg pledged cooperation with the panel’s probe into online markets during a meeting on Capitol Hill.

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U.S. President Donald Trump said his administration was “making a lot of progress” with China on Friday, as deputy-level trade talks continued for a second day and Washington lifted tariffs on over 400 Chinese products.

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Oil prices rose about 1% on Friday, with Brent set for its biggest weekly gain since January, lifted by rising Middle East tensions and supply concerns after an attack on Saudi Arabia’s energy industry last weekend.

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Brazilian state-run oil firm Petrobras has in the last five years battled an epic corruption probe, a crippling recession and unsteady crude prices.

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