Business & Finance News
Oil prices rose by about 3% on Friday, supported by a drop in European inventories and expectations of more OPEC output cuts despite the International Energy Agency reporting demand growth at its lowest since the financial crisis of 2008.
Walmart Inc said on Friday it has asked employees at its stores across the United States to take down signs and playable demos of violent video games but has made no changes to its policy on selling firearms.
Huawei Technologies unveiled on Friday its proprietary operating system for smartphones and other devices, as U.S. trade restrictions imposed in May threaten to cut the Chinese firm’s access to U.S. technologies such as Android.
Prosecutors in Stuttgart, Germany are set to fine Mercedes-Benz parent Daimler between 800 million euros ($895 million) and 1 billion euros for diesel-related violations, German magazine Der Spiegel said in its online edition on Friday.
Signs of further escalation of the trade war between the United States and China and weak economic data from the United Kingdom weighed on global markets Friday, capping a volatile week that has pushed gold up to its highest level in six years.
U.S. stocks edged lower on Friday after rebounding strongly a day earlier, as investors grappled with fresh trade tensions, political turmoil in Italy and a surprise contraction in Britain’s economy.
Oil prices rose on Friday, supported by a drop in European inventories and expectations of more OPEC production cuts despite the International Energy Agency (IEA) reporting demand growth at its lowest since the financial crisis of 2008.
Bayer AG has not offered to pay billions of dollars to settle claims in the United States related to the Roundup herbicide, mediator Ken Feinberg said, after a report of such a settlement had driven shares as much as 11% higher.
U.S. stocks opened lower on Friday, dragged down by technology shares, as investors grappled with fresh U.S.-China trade tensions, political turmoil in Italy and a surprise contraction in Britain’s economy.
Trade war worries and the prospect of early elections in Italy and Britain hit European markets hard on Friday, while the search for safety left gold on course for its best week in three years, Japan’s yen near an eight-month high and bonds surging.
U.S. stocks were set to open lower on Friday, as investors grappled with fresh trade tensions, political turmoil in Italy and a surprise contraction in Britain’s economy.
U.S. producer prices increased moderately in July, lifted by a rebound in the cost of energy products, while underlying producer inflation retreated, which could allow the Federal Reserve to cut interest rates again next month.
Bayer AG has not proposed paying $8 billion to settle all U.S. claims related to the Roundup herbicide, mediator Ken Feinberg said in an email on Friday.
Ryanair’s directly employed pilots in Ireland on Friday voted in favor of industrial action unless pay demands are met swiftly, with Spanish pilots also threatening to join growing unrest at the airline.
Shares of Uber Inc fell 10% in early trading on Friday after the ride-hailing service missed most Wall Street targets in its quarterly earnings report, in sharp contrast to upbeat numbers from U.S. rival Lyft Inc a day earlier.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
