Business & Finance News
Oil prices rose on Friday as political turmoil in Venezuela threatened to reduce supply but fresh data on surging U.S. fuel stocks and global economic woes weighed on sentiment.
The Canadian union representing autoworkers at General Motors’ Oshawa, Ontario plant on Friday called on the U.S. automaker to extend production at the site to September 2020 and return to the negotiating table.
Payday lenders’ stocks have emerged as big winners during the record-long U.S. government shutdown, though the updraft could prove short-lived.
U.S. stocks rose on Friday, with technology and consumer discretionary sectors leading a rally, as upbeat earnings reports helped investors overlook trade and growth worries.
Facebook Inc Chief Executive Officer Mark Zuckerberg is planning to unify the underlying messaging infrastructure of its WhatsApp, Instagram and Facebook Messenger services and incorporate end-to-end encryption to these apps, the New York Times reported on Friday.
U.S. stocks rallied at the open on Friday, as upbeat corporate earnings helped curb worries about global economic growth, U.S. government shutdown and uncertainty around U.S.-China trade talks.
Vodafone, the world’s second largest mobile operator, said it was “pausing” the deployment of Huawei equipment in its core networks until Western governments give the Chinese firm full security clearance.
South African media and e-commerce group Naspers is nearing a deal to take full control of Russia’s largest classified advertising platform Avito by buying the remaining 32 percent it does not already own, two sources told Reuters.
China’s economy grew at the weakest pace in nearly three decades last year amid weakening domestic demand and U.S. trade tariffs, prompting Beijing to announce a series of growth-boosting measures to avert the risk of a sharper slowdown.
China will take steps to spur growth amid a trade war with the United States, but there is limited room for aggressive stimulus in an economy already laden with massive debts and a property market prone to credit-driven spikes, policy insiders said.
Toyota Motor Corp aims to raise vehicle sales in China by 8 percent to 1.6 million this year, the Japanese automaker said on Friday.
France’s L’Oreal, whose beauty brands range from Lancome creams to Maybelline make-up, is stocking up cosmetics in Britain as part its preparations for Britain leaving the European Union, its chief executive said.
U.S. homebuilder D.R. Horton Inc missed analysts’ estimates for first-quarter profit on Friday, as higher house prices and mortgage rates priced some buyers out of the market, squeezing sales of more expensive homes.
The Kazakh authorities are urgently looking for a bank to take over no. 2 lender Tsesnabank as they believe it needs new financing to prevent a collapse, three sources familiar with the discussions told Reuters.
Global stocks rose on Friday, as strong earnings helped to underpin investor sentiment in the face of growing signs that the global economy is slowing and a still unresolved trade dispute between the United States and China.
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