Wall Street’s main indexes were set to open lower on Friday after a strong rebound in U.S. job growth in June dashed hopes of an aggressive interest rate cut by the Federal Reserve this month.
U.S. job growth rebounded strongly in June, but moderate wage gains and mounting evidence that the economy was slowing sharply could still encourage the Federal Reserve to cut interest rates this month.
U.S. job growth rebounded strongly in June, but moderate wage gains and mounting evidence that the economy was slowing sharply could still encourage the Federal Reserve to cut interest rates this month.
Brent oil ticked higher on Friday, supported by tensions over Iran and this week’s decision by OPEC and its allies to extend a supply cut deal until next year, while U.S. benchmark crude prices fell on weak economic indicators.
U.S. stock index futures added to losses slightly on Friday after data showed a stronger-than-expected job growth in June, but moderate wage gains could still encourage the Federal Reserve to cut interest rates this month.
Deutsche Bank plans to create a separate “corporate bank” to streamline services now spread across Germany’s biggest bank as part of wider multi-billion dollar restructuring, two people familiar with the matter said on Friday.
World stocks lingered near their 17-month highs on Friday and bonds paused after this week’s rally ahead of U.S. jobs data, a gauge that could stoke or temper market expectations about aggressive policy easing by the Federal Reserve.
BMW’s Oliver Zipse, currently board member for production, is the frontrunner to become chief executive (CEO) of the German carmaker, sources told Reuters, after Harald Krueger said he would not be available for another term as CEO.
U.S. stock futures edged lower, on Friday, as investors awaited the monthly jobs data, which could offer clues on the Federal Reserve’s move on interest rates.
BMW’s production chief Oliver Zipse is to become the next chief executive of the German carmaker after Harald Krueger’s announcement that he was stepping down, the Frankfurter Allgemeine newspaper reported on Friday, citing people within the company as its source.
The first batch of companies will start trading on the STAR Market on July 22, the Shanghai Stock Exchange said on Friday.
General Motors Co and Ford Motor Co announced their quarterly sales in China fell, albeit at a slower pace sequentially, as the U.S. automakers were hit by a slowing economy amid the Sino-U.S. trade war.
Deutsche Bank is planning to create a separate “corporate bank” unit that will seek to streamline services currently spread throughout the bank, two people familiar with the matter said on Friday.
Wells Fargo & Co’s Irish subsidiary was fined 5.9 million euros on Friday for a prolonged series of regulatory reporting breaches, the second largest fine ever handed down by Ireland’s Central Bank.
BMW will seek to appoint a chief executive later this month after Harald Krueger said he did not want to extend his contract, pre-empting deliberations about whether to give him another five-year term at the helm.
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