Business & Finance News
Gains on Wall Street petered out on Friday, with the Nasdaq index turning negative, as an upbeat mood fueled by signs of upcoming U.S.-China trade talks and solid domestic consumer spending data, waned ahead of a long Labor day weekend.
Oil futures fell on Friday, with U.S. crude down nearly 4% ahead of a hurricane near the Florida coast that could dampen demand, but prices were still headed for the biggest weekly increase since early July, boosted by an easing of U.S.-China trade rhetoric.
United Airlines Holdings said on Friday it is extending the cancellation of Boeing 737 MAX flights until Dec. 19 as the jets remain grounded worldwide following two fatal crashes in Indonesia and Ethiopia in the past year.
China will exempt Tesla Inc’s electric vehicles from its purchase tax, the Ministry of Industry and Information Technology (MIIT) said on its website on Friday. China currently levies a 10% purchase tax on the sale of each vehicle. The move could reduce the cost of buying a Tesla car by up to 99,000 yuan ($13,957.82), according to a post on Tesla’s social media WeChat account. Sixteen variants – all the Tesla models sold in the country – are listed on the
OPEC oil output has risen in August for the first month this year as higher supply from Iraq and Nigeria outweighed restraint by top exporter Saudi Arabia and losses caused by U.S. sanctions on Iran, a Reuters survey found.
Bruce Gendelman wanted a mountainside retreat when he bought 12 acres in Aspen, Colorado. But forest fires that have torched nearby land in recent years left him concerned.
Campbell Soup Co on Friday reported better-than-expected fourth-quarter profit and margins as the food company sold more soups and snacks, tightened up its supply chain and cut costs, sending shares up more than 8%.
Amazon.com defended its business strategies in India as it came under fire from a local trader group on Friday over discounted products on the global e-commerce giant’s website.
Oil prices gave back some of their recent gains on Friday, but were still headed for the biggest weekly increase since early July, boosted by an easing of U.S.-China trade rhetoric, a decline in U.S stockpiles and a looming hurricane in Florida.
U.S. stocks rose on Friday as an easing of trade tensions between the United States and China, and data showing solid domestic consumer spending abated concerns that major economies were on the brink of a recession.
Malaysian budget carrier AirAsia Group Bhd scaled back plans to order the Airbus A330neo wide-body passenger jet by nearly two thirds on Friday, switching its focus instead to a long-range new version of the popular A321 series.
U.S. stocks opened broadly higher on Friday as investors took comfort from signals that the United States and China will resume trade talks, easing worries about further damage from their long-standing trade war that has roiled financial markets.
U.S. consumer spending increased solidly in July as households bought a range of goods and services, which could further allay financial market fears of a recession, but the strong pace of consumption is unlikely to be sustained amid tepid income gains.
U.S. stocks index futures pointed to a higher open for Wall Street on Friday, as investors took comfort from signals that the United States and China will resume trade talks.
China said its trade dispute with the United States would not affect the Asian nation’s pork supply, state-television reported on Friday, citing an official at the agriculture ministry.
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