Business & Finance News
Mexico will be ready to retaliate in kind if the U.S. government imposes tariffs on Mexican exports to the United States, Mexican Economy Minister Graciela Marquez said on Friday.
The owner of dating app Bumble said on Friday it would revamp its holding structure and spend $100 million, as it looks to better compete with Match Group’s Tinder.
Italy’s industry ministry is open to discussions with any investor interested in the rescue of troubled carrier Alitalia, including infrastructure group Atlantia, two sources with knowledge of the matter said on Friday.
Mexican officials blocked Walmart Inc’s deal to buy delivery app Cornershop because Walmart could not guarantee a level playing field for rival retailers, whose customers use the app to order groceries and other goods, according to an official document and an interview with the top competition regulator this week.
U.S. stocks were flat to lower in late afternoon trading on Friday, though a warning from Broadcom of a broad weakening in global demand weighed on chipmakers.
Italy’s industry ministry is open to discussions with any investor interested in the rescue of troubled carrier Alitalia, including infrastructure group Atlantia, two sources with knowledge of the matter said on Friday.
Equity markets lost ground on Friday as weak Chinese data stoked investor anxieties over a global growth slowdown and mounting fears of a U.S.-Iran confrontation added to geopolitical uncertainty, sending oil prices higher.
Airbus said on Friday it had urged United Technologies to “keep its eye on the ball” in its role as a commercial aerospace supplier as it moves toward a planned merger with U.S. defense contractor Raytheon.
Canada’s Bombardier is opening a new facility in California that will assemble rail cars for San Francisco’s rapid transit system by year’s end, and potentially serve other West Coast rail projects.
Equity markets struggled and safe-haven assets like gold were in demand on Friday as weak Chinese data stoked investor anxieties over a global growth slowdown and fears of a U.S.-Iran confrontation added to geopolitical uncertainty.
U.S. retail sales increased in May and sales for the prior month were revised higher, suggesting a pick-up in consumer spending that eased fears the economy was slowing down sharply in the second quarter.
Broadcom Inc sent a shockwave through the global chipmaking industry on Friday with its forecast that U.S.-China trade tensions and the ban on doing business with Huawei Technologies would knock $2 billion off the company’s sales this year.
U.S. stocks dropped on Friday, as shares of chipmakers sank on a warning from sector major Broadcom of a broad weakening in global demand and Chinese data pointed to the worst slowdown in industrial growth in 17 years.
The Federal Open Market Committee meeting next week is shaping up as a pivotal one for Wall Street, with stocks primed for a selloff should the Fed fail to take an even more dovish tilt after policymakers raised expectations for a rate cut in recent weeks.
Dish Network Corp executives met this week with the U.S. Justice Department’s antitrust chief Makan Delrahim and Federal Communications Commission chairman Ajit Pai on the government’s review of the proposed $26.5 billion tie-up of wireless carriers T-Mobile USA and Sprint Corp.
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