Business & Finance News
Oil prices rose about 1 percent on Friday as strike actions in Norway and Iraq hit supplies, but futures were set for a second straight week of decline after Libyan ports reopened and on the view that Iran might still export some crude despite U.S. sanctions.
Chinese imports to U.S. ports rose more than expected in June, suggesting that some retailers moved up orders to insulate themselves from an intensifying trade war that threatens to send up costs on a growing number of consumer products.
Chanting “Donald Trump has got to go,” tens of thousands of protesters marched through London on Friday waving banners and banging pots to demonstrate against the U.S. president on his first official visit to Britain.
The benchmark S&P 500 hit a more than five-month high on Friday on gains in industrials and energy companies, while the safe-haven U.S. dollar flattened after touching a two-week high.
The U.S. House Judiciary Committee on Tuesday will hold a hearing to take testimony from Facebook Inc, Alphabet Inc’s YouTube unit and Twitter Inc on whether social media companies are filtering content for political reasons, the committee chairman said.
The dollar dipped against a basket of currencies on Friday, fading from a two-week peak which was tied to news of a record Chinese trade surplus that may fuel U.S.-China trade tensions and that briefly spurred safe-haven bids for the greenback.
Boeing Co said on Friday it would incur a charge of $124 million in the second quarter related to the sale of some production facilities to Spirit Aerosystems .
Second-quarter earnings reports from three of the biggest U.S. banks on Friday showed the sector is benefiting from policy changes in Washington that have lowered their taxes, boosted interest rates and allowed them to buy back more stock.
Comcast expects to pay the banks, law firms and other advisers on its 25.9 billion pound ($34.23 billion) bid for Sky as much as 243 million pounds if it wins the battle for the British broadcaster, the U.S. cable giant said on Friday.
Wells Fargo & Co said on Friday its loan book shrank and it raked in less fee revenue than a year ago, factors that contributed to lower-than-expected quarterly profit and sent its shares down nearly 2 percent.
The benchmark S&P 500 hit a more than five-month high on Friday as gains in industrials and energy companies offset a drop in financials after a mixed bag of quarterly results from three big Wall Street banks.
The U.S. Department of Commerce on Friday lifted a ban on U.S. companies selling goods to ZTE Corp, allowing China’s second-largest telecommunications equipment maker to resume business. The Commerce Department had said it would remove the ban after ZTE paid a $1 billion penalty and placed $400 million in a U.S. bank escrow account as part of a settlement reached last month.
The U.S. Justice Department has only a remote chance of overturning AT&T Inc’s takeover of Time Warner, Chief Executive Randall Stephenson said on Friday, while warning the case could affect bidding for Twenty-First Century Fox Inc.
U.S. President Donald Trump met Britain’s Queen Elizabeth at Windsor Castle on Friday.
The benchmark S&P 500 edged back to five-month highs on Friday as gains in industrials and energy companies more than offset a drop in financials after a mixed bag of quarterly reports from three big Wall Street banks.
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