Oil prices climbed on Friday, supported by tensions over Iran and a decision by OPEC and its allies to extend an output supply cut deal until next year, but mixed economic data limited the rally.
Mexico is working closely with U.S. Trade Representative Robert Lighthizer to close a loophole in the new North American trade deal, aimed at satisfying demands of U.S. Democratic lawmakers for tougher labor and environmental provisions, a senior Mexican official said.
Mexico’s attorney general’s office said on Friday that a judge issued arrest warrants for the former chief executive of state oil firm Pemex, Emilio Lozoya, three of his family members and one other person, in a graft case involving Brazilian builder Odebrecht.
U.S. stocks fell on Friday, slipping from record levels hit in the previous session, as strong U.S. job growth in June pushed investors to scale back bets on aggressive interest rate cuts by the Federal Reserve.
U.S. job growth rebounded strongly in June, with government payrolls surging, but persistent moderate wage gains and mounting evidence the economy was losing momentum could still encourage the Federal Reserve to cut interest rates this month.
U.S. employers are hiring workers at a brisk pace, but that is only making the Federal Reserve’s job harder.
Brent oil prices edged up on Friday, supported by tensions over Iran and a decision by OPEC and its allies to extend an output supply cut deal until next year, while U.S. benchmark crude prices fell on weak economic indicators.
U.S. stocks lost ground on Friday, retreating from record levels hit in the previous session, after strong U.S. job growth in June pushed investors to scale back bets on aggressive interest rate cuts by the Federal Reserve.
BMW board member Oliver Zipse, a 55 year-old company veteran, is the front runner to become the carmaker’s new chief executive, sources said on Friday after Harald Krueger announced he would not stay on beyond April 2020.
Data released on Friday showed a return to strong job growth in the United States, allaying some fears the U.S. economy is on a short path to recession. But the data also reinforced the view that economic growth is slowing.
U.S. economic growth continued “at a solid pace” in the first half of the year though it likely weakened in recent months as higher tariffs depressed global trade and business investment weakened, the Federal Reserve said on Friday in its semi-annual report to Congress.
The head of Deutsche Bank’s investment bank agreed to step down on Friday in a sign of the division’s waning influence as Germany’s largest lender prepares a multi-billion dollar restructuring aimed at reversing a decline in its fortunes.
The Nordic region’s six major banks announced the creation of a customer checking center on Friday, with the initiative expected to help their efforts to crack down on money launderers and recover from a scandal that has damaged the sector’s reputation.
Mexico’s attorney general’s office said on Friday that a judge has issued arrest warrants for the former chief executive of state oil firm Pemex, Emilio Lozoya, and four more people in a graft case involving Brazilian builder Odebrecht.
A strong U.S. jobs report that tempered expectations of an aggressive interest rate cut by the Federal Reserve later this month and weak economic data in Germany helped push global stock indices lower Friday after hitting record highs earlier this week.
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