Business & Finance News
The U.S. dollar weakened on Friday against key world currencies as President Donald Trump complained again about its strength, while U.S. and European stock markets were tepid amid fresh tariff talk and another round of corporate earnings.
Several U.S. companies are putting in place measures to cushion the impact of escalating trade tensions between the United States and China.
A court in Britain will start proceedings on Nov. 19 in a case between Lufthansa and Laudamotion over leasing contracts, Lufthansa said on Friday.
Microsoft Corp shares rose about 5 percent to an all-time high on Friday, after investors cheered another blockbuster quarter, backed by growth in its legacy software business and Azure cloud computing services.
General Electric Co reported a smaller-than-expected drop in profit on Friday, but cut a key financial target, raising questions about its outlook for the year and sending shares sharply lower.
Royal Bank of Scotland said a scheme to compensate small firms hurt by its restructuring unit will close to new complaints after it paid out just 10 million pounds ($13 million) so far for direct losses.
The S&P 500 was trading flat on Friday as Microsoft’s robust results helped offset escalating tariff worries after President Donald Trump said he was ready to impose levies on $500 billion worth of goods from China.
General Electric Co, a major buyer of Chinese goods, estimates new tariffs on its imports from China could raise its costs by $300 million to $400 million overall before steps to lessen the impact, Chief Executive John Flannery said on Friday.
Japan’s Prime Minister Shinzo Abe said on Friday imports of Japanese automobiles pose no threat to U.S. national security, vowing to convince President Donald Trump not to impose tariffs that could damage the global economy.
U.S. stocks opened slightly lower on Friday as industrial stocks fell on worries of an escalation in trade war after President Donald Trump toughened his stance against China, but gains in Microsoft capped losses.
U.S. stocks were set to open lower on Thursday as strong earnings, including from Microsoft, failed to ease fears of a trade war after President Donald Trump said he was ready to impose tariffs on $500 billion worth of Chinese imports.
Some European companies are rethinking their strategies to cushion against the impact of trade tensions between the world’s two biggest economies, the United States and China.
AT&T Inc on Friday named Oklahoma City, Charlotte and Raleigh, North Carolina, as three more cities where it plans launch its next-generation wireless network, or 5G, by the end of the year.
Japanese firms are likely to pursue stakes in the country’s first casino resorts, after parliament on Friday enacted a law smoothing the way for large-scale gambling – a business expected to generate billions of dollars in revenue.
General Electric Co’s oilfield services arm Baker Hughes on Friday reported a slight profit miss on weaker sales in its oilfield equipment and turbomachinery businesses, sending the company’s shares down 2.4 percent.
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