Business & Finance News
Walmart Inc has asked some beauty suppliers to consider sourcing products from outside China, as it looks for ways to mitigate the impact of a new set of tariffs on Chinese products proposed by the Trump administration.
Turkey’s battered lira weakened 3 percent on Friday after a Turkish court rejected an American pastor’s appeal for release, drawing a stiff rebuke from President Donald Trump, who said the United States would not take the detention “sitting down”.
Thyssenkrupp’s workers are prepared to do their part in the ongoing restructuring of the embattled conglomerate, its interim chairman and trade union secretary Markus Grolms told a German magazine.
Jittery Venezuelans on Friday rushed to shops and lined up at gas stations on concerns that a monetary overhaul to lop off five zeros from prices in response to hyperinflation could wreak financial havoc and make basic commerce impossible.
Moody’s cut Turkey’s sovereign credit rating deeper into “junk” territory on Friday, citing a weakening of public institutions and the related reduction in the predictability of policy making in a country which is facing a currency crisis.
The U.S. government is trying to force Facebook Inc to break the encryption in its popular Messenger app so law enforcement may listen to a suspect’s voice conversations in a criminal probe, three people briefed on the case said, resurrecting the issue of whether companies can be compelled to alter their products to enable surveillance.
U.S. stocks closed higher on Friday, with the S&P 500 and the Dow Jones Industrial Average extending gains and the Nasdaq turning positive on reports of progress in tariff disputes between the United States and its trading partners China and Mexico.
Turkey’s battered lira weakened 4 percent on Friday after a Turkish court rejected an American pastor’s appeal for release, drawing a stiff rebuke from President Donald Trump, who said the United States would not take the detention “sitting down”.
Standard & Poor’s said on Friday it had cut Turkey’s sovereign credit rating deeper into “junk” territory, citing extreme lira volatility and forecasting a recession next year.
Tesla Inc’s shares slumped 9 percent on Friday after Chief Executive Officer Elon Musk told the New York Times he was under major emotional stress and was preparing for “extreme torture” from short sellers.
The top U.S. securities regulator on Friday said it had voted to simplify and update requirements for disclosing information that it considers redundant or outdated, with the aim of reducing compliance burdens for companies.
U.S. President Donald Trump said on Friday he has asked the U.S. Securities and Exchange Commission to study the impact of allowing companies to file reports with the financial regulator every six months instead of every quarter.
The Securities and Exchange Commission will continue to study the frequency of public company reporting after President Donald Trump called on the agency to consider shifting from quarterly to semiannual reports, SEC Chairman Jay Clayton said on Friday.
The S&P 500 and the Dow Jones Industrial average extended gains and the Nasdaq turned positive on Friday on reports of progress in talks between the United States and China and other trading partners.
Brazilian meatpacker Marfrig Global Foods SA has agreed to sell its U.S. subsidiary, a key McDonald’s supplier, to Tyson Foods Inc for $2.5 billion, two people with knowledge of the matter told Reuters on Friday.
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