Business & Finance News
When the Federal Reserve last month adopted a new “patient” approach to monetary policy, it gave no specific guidance about how long its policy pause would last, or how many more interest-rate increases, if any, were in the offing.
* The Toronto Stock Exchange’s S&P/TSX rose 142.26 points, or 0.91 percent, to 15,838.24.
Citigroup Inc said on Friday its Chief Executive Michael Corbat will get a 4.35 percent raise, bringing his total compensation for 2018 to $24 million.
Mattel Inc on Friday issued a disappointing 2019 forecast, barely a week after posting a surprise quarterly profit, triggering an 18 percent drop in its shares.
Wall Street rallied on Friday, with the Dow and the Nasdaq posting their eighth consecutive weekly gains as investors grew hopeful that the United States and China would hammer out an agreement resolving their protracted trade war.
Oil prices rose more than 2 percent to their highest this year on Friday after an outage at Saudi Arabia’s offshore oilfield boosted expectations for tightening supply, while progressing U.S.-Sino trade talks strengthened demand sentiment.
The three largest U.S. stock exchange operators said they will sue the Securities and Exchange Commission for overstepping its authority by ordering a pilot program to test banning lucrative payments exchanges make to brokers for resting stock orders.
Chinese ride-hailing giant Didi Chuxing is planning to take on U.S. rival Uber in some of Latin America’s fastest-growing markets, recruiting managers in Chile, Peru and Colombia, according to job postings and a company official.
Mattel Inc said on Friday gross sales for 2019 are expected to be flat, sending its shares down 18 percent.
Mexico will inject $3.6 billion into ailing state oil company Pemex, officials said on Friday, promising to strengthen its finances and prevent a further credit downgrade, although investors saw the plan as only a short-term fix.
Optimism about a U.S.-China trade agreement has helped drive U.S. stocks to more than two-month highs, creating a make-or-break moment for Wall Street as a year-long clash between the world’s two largest economies comes to a head.
Wall Street rallied on Friday on growing hopes the United States and China can hammer out an agreement resolving their protracted trade war.
Alphabet Inc’s Sidewalk Labs unit is proposing it get a share of property taxes, development fees, and the rising value of Toronto city land as part of a deal to build a smart city, according to the company’s slide presentation made public on Friday.
The United States and China will resume trade talks next week in Washington with time running short to ease their bruising trade war, but U.S. President Donald Trump repeated on Friday that he may extend a March 1 deadline for a deal and keep tariffs on Chinese goods from rising.
Oil prices climbed more than 2 percent on Friday after an outage at Saudi Arabia’s offshore oilfield boosted investor expectations for tightening supply.
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