Business & Finance News
Mounting uncertainty over Britain’s Brexit deal with the European Union cast a shadow over foreign exchange markets on Friday, with euro/dollar trading in a tight range and the yen benefiting from demand for currencies deemed safer.
Brexit will be foremost in investors’ minds in the coming week, though a smattering of data will offer further indications as to how much global economic growth, bogged down by politics and trade wars, is slowing.
Viacom Inc , the owner of MTV, Comedy Central and Nickelodeon, beat Wall Street estimates for profit and revenue on Friday, as its Paramount Pictures division gained from the success of “Mission: Impossible – Fallout”.
U.S. criminal investigators have requested information from Deutsche Bank, Bank of America and JPMorgan about transactions they handled for Danske Bank’s Estonia branch, which is at the center of a money laundering scandal, Bloomberg reported on Friday citing sources.
Oil rose on Friday on expectations that OPEC and its allies would agree to cut output next month but prices were still down on the week on concerns that the global market was oversupplied.
Germany’s SAP hit back at suggestions that the German business software group is paying too much for Qualtrics, a U.S. company that specializes in tracking consumer sentiment online.
U.S. Deere & Co expects to see demand for its farm equipment in Africa grow 8 to 10 percent annually in the coming years, driven by expansion in key markets like Ethiopia and Zimbabwe, a local company executive said.
European stocks recovered but sterling and the euro remained fragile on Friday, after some of the most dramatic 24 hours yet in the Brexit process and another turbulent week for world markets.
The United States ambassador to Japan defended his country’s trade policies on Friday, saying they were not protectionist and were aimed at creating a more level playing field for American companies.
Oil rose on Friday on hopes that supply cuts will be agreed at OPEC’s meeting on Dec. 6, but failed to recoup recent losses on oversupply concerns that have shaved more than a fifth off the Brent crude benchmark since early October.
Volkswagen chief executive Herbert Diess will take on responsibility for the carmaker’s business in China, a source said as VW’s supervisory board met in Wolfsburg on Friday.
Canadian software maker BlackBerry Ltd said on Friday it will acquire Cylance, an artificial intelligence and cybersecurity company, for $1.4 billion in cash.
Germany’s SAP still expects its margins to expand after its $8 billion takeover of Qualtrics, a U.S. company that specializes in tracking the sentiment of consumers online, Chief Financial Officer Luka Mucic said on Friday.
T-Mobile US Inc could close its acquisition of Sprint Corp as early as the first quarter of next year, based on indications it is getting from regulators, Chief Financial Officer J. Braxton Carter said at an investor conference.
China’s stubbornly weak credit growth has spurred talk of its first cut in benchmark lending rates in three years, but economists and policy insiders say concerns about a potential knock to its currency will likely give the central bank pause.
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