Business & Finance News
U.S. stocks were set to drop sharply at the open on Friday as weak economic data from China and Europe exacerbated global growth fears and added to nerves over the U.S.-China trade talks.
China will suspend additional tariffs on U.S.-made vehicles and auto parts for three months starting Jan. 1, 2019, the country’s finance ministry said on Friday, following a truce in a trade war between the world’s two largest economies.
U.S. consumer spending appeared to gather momentum in November as households bought furniture, electronics and a range of other goods, which could further allay fears of a significant slowdown in the economy.
German airline Air Berlin’s insolvency administrator is suing Abu Dhabi’s Etihad, its former owner, for damages of up 2 billion euros ($2.26 billion), a Berlin court said on Friday.
Stocks worldwide tumbled on Friday after weak economic data from China and Europe fanned concerns of a global economic slowdown and left investors fretting over the wider impact of a still-unresolved Sino-U.S. trade dispute.
U.S. stock index futures dropped about 0.8 percent on Friday, after weak economic data from China and Europe exacerbated global growth fears and added to unease over the ongoing trade dispute between the United States and China.
Merck and Co said on Friday it will pay about 2.1 billion euros ($2.37 billion) in cash for privately held French company Antelliq Group, which makes digital identification products, to open up its animal health unit to the fastest growing segment of the market.
Nissan said on Friday that representatives of ousted chairman Carlos Ghosn had retrieved documents from a disputed corporate apartment in Rio de Janeiro which it had allowed them to enter following a Brazilian court ruling.
Renault’s board did not consider replacing Chief Executive Carlos Ghosn when it met on Thursday, interim chairman Philippe Lagayette said in a statement issued by the carmaker.
Luxury goods maker LVMH has agreed to buy Belmond , the owner of hotels including Venice’s landmark Cipriani, for $3.2 billion including debt to increase its presence in upmarket hospitality.
China will suspend additional tariffs on U.S.-made vehicles and auto parts for three months starting Jan. 1, 2019, the country’s finance ministry said on Friday, following a truce in a trade war between the world’s two largest economies.
Tesla Inc has cut prices on its Model S and Model X vehicles in China after Beijing suspended additional tariffs on U.S.-made cars.
Huawei [HWT.UL] faces fresh challenges in Europe after France’s Orange said it would not hire the Chinese firm to build its next-generation network and Germany’s Deutsche Telekom announced it would review its vendor strategy.
Domestic investors have sought nearly double the number of shares offered by SoftBank Group Corp’s soon-to-list wireless unit, two sources from a lead IPO underwriter said, underscoring strong demand for Japan’s third-largest telco.
China’s finance ministry said on Friday it will suspend additional tariffs on U.S.-made vehicles and auto parts for three months starting Jan. 1, 2019.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
