Business & Finance News
The Trump administration pushed ahead on Friday with a plan to slap a 5% tariff on imports from Mexico, as the two sides started a third day of talks to reach a deal to stem the flow of mostly Central American migrants into the United States.
Wall Street’s main indexes rose 1% on Friday, as a sharp slowdown in May domestic job growth raised hopes of an interest rate cut, while Washington’s decision to delay tariffs on Chinese goods added to the upbeat mood.
German prosecutors are probing former Deutsche Bank co-Chief Executive Anshu Jain and 78 other current and former bank officials as part of an investigation into a dividend tax-stripping scheme, German daily Handelsblatt reported on Friday.
Major world stock indexes rose and U.S. Treasury yields tumbled on Friday after a slowdown in U.S. job growth fueled hopes of a U.S. interest rate cut, while news the United States would give China more time to avoid a tariff hike added to market optimism.
U.S. job growth slowed sharply in May and wages rose less than expected, raising fears that a loss of momentum in economic activity could be spreading to the labor market, which could put pressure on the Federal Reserve to cut interest rates this year.
Wells Fargo & Co will pay at least $386 million to settle class-action claims by customers who said the bank signed them up for auto insurance they did not want or need when they took out car loans.
U.S. and Mexican negotiators resumed migration talks on Friday as the two sides edged closer to a trade war that could hobble both countries’ economies and rattle investors already nervous about Washington’s escalating battle with China.
Big-spending luxury brands like Gucci, Louis Vuitton and Christian Dior are splashing out on everything from dance-fuelled fashion shows to teams of advisers as they target social media platforms in the hunt for young shoppers.
The Federal Reserve is just about done being patient.
In veteran drug salesman Paul Hudson, Sanofi’s 100,000-plus employees are getting a new chief executive who relishes a good commercial fight.
U.S. stocks extended gains in a broad-based rally on Friday, as a sharp slowdown in May domestic job growth raised hopes of an interest rate cut, while the United States’ decision to delay tariffs on Chinese goods lifted the mood.
Boeing Co’s largest supplier Spirit AeroSystems Holdings Inc is reducing its workweek to 32 hours in response to the 737 MAX groundings, a labor union for the aerospace industry said on Friday.
U.S. officials officially granted Chinese exporters two more weeks to get their products into the United States before increasing tariffs on those items, according to a U.S. government notice posted online on Friday
A ban on buying telecoms equipment from Chinese firms would add about 55 billion euros ($62 billion) to the cost of 5G networks in Europe and delay the technology by about 18 months, according to an industry analysis seen by Reuters.
U.S. stocks opened higher on Friday, after a weak payrolls data in May increased bets that the Federal Reserve would lower interest rates, while news that the United States would give China more time to avoid a tariff hike helped add to the gains.
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