Business & Finance News
Tyson Foods Inc is recalling nearly 40,000 pounds of its Weaver chicken patties after some consumers found pieces of rubber in the product, the no. 1 U.S. meat processor said.
Wall Street’s three main indexes rose more than 1% on Friday, clawing back some losses from a brutal selloff this week on hopes of more stimulus from central banks to perk up slowing growth.
Car rental company Nextmove has walked away from a 5 million euros ($5.55 million) order for 85 Tesla Model 3 electric vehicles following a dispute over how to fix quality issues, the German company said on Friday.
U.S. energy firms this week increased the number of oil rigs operating for the first time in seven weeks despite plans by most producers to cut spending on new drilling this year.
Lower U.S. interest rates could help support outperforming U.S. homebuilder stocks, even as they raise worries about the economy, while a bonanza of industry data and Federal Reserve speakers next week are likely to help shape the outlook.
Finding a buyer for Philadelphia Energy Solutions’ oil refinery has grown urgent as the bankrupt company’s funds dwindle and no signs emerge that it is winning a fight for insurance payouts after a June blaze at the plant, according to court documents and bankruptcy experts.
Oil prices on Friday rebounded from a two-day drop, alongside equities as expectations of further stimulus by central banks helped to ease recession concerns.
The dollar strengthened while U.S. and European stocks surged on Friday amid growing expectations the European Central Bank will cut interest rates to stimulate the economy and after China said it plans to boost disposable income to spur consumption.
U.S. stocks rose on Friday and were on track to end a bruising week on a positive note, bolstered by hopes of more stimulus from central banks to perk up slowing growth.
U.S. homebuilding fell for a third straight month in July amid a steep decline in the construction of multi-family housing units, but a jump in permits to a seven-month high offered hope for the struggling housing market.
Deere & Co. on Friday announced a review of costs after quarterly profits yet again missed Wall Street’s estimates, hurt by bad weather and the U.S.-China trade war that have depressed sales of farm machines.
German car rental firm Nextmove has canceled the bulk of a 100-vehicle order from Tesla worth 5 million euros ($5.54 million) over quality problems with the Model 3, it said on Friday.
Hopes of more official stimulus for the economy and the easing of a bond market rally drove a broad rise in U.S. stocks on Friday, as a bruising week for markets drew to a close.
OPEC delivered a downbeat oil market outlook for the rest of 2019 on Friday as economic growth slows and highlighted challenges in 2020 as rivals pump more, building a case to keep up an OPEC-led pact to curb supply.
U.S. stocks opened higher on Friday in broad-based gains led by technology stocks, on easing bond market rally and China’s plans to boost economic growth.
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