Business & Finance News
A U.S.-China trade fight resulting in duties on $34 billion worth of each other’s imports was seen dragging on for a potentially prolonged period, as Washington and Beijing flexed their muscles with no sign of negotiations to ease tensions.
Companies seeking product exclusions from tariffs on Chinese goods imported into the United States will get 90 days to file such requests, until Oct 9, the U.S. Trade Representative’s office said on Friday.
With the United States and China finally formalizing tit-for-tat import tariffs, Wall Street is gearing up to dissect U.S. corporate earnings in the coming weeks for signs of a trade war impact and whether it will affect spending plans.
The S&P 500 and the Nasdaq rose to their highest levels in two weeks on Friday as strong U.S. jobs growth blunted the impact of an escalating U.S.-China trade dispute.
BP Plc is in the lead to acquire the U.S. onshore shale assets of BHP Billiton Ltd after submitting an offer worth well in excess of $10 billion, people familiar with the matter said on Friday.
German luxury automaker BMW said on Friday that it will be unable to “completely absorb” a new Chinese 25 percent tariff on imported U.S.-made models and will have to raise prices on the vehicles it makes in Spartanburg, South Carolina.
World stock markets rose and the euro climbed to a three-week peak on Friday as the threat of tariffs by the United States and China on billions of dollars of trade became a reality, though concerns about the conflict escalating capped the appetite for risk.
A California agency for occupational safety said on Thursday it opened a third investigation at Tesla Inc’s factory in Fremont, California, following a complaint.
The S&P 500 and the Nasdaq rose to two-week highs on Friday as strong U.S. jobs growth and a surge in Biogen’s shares helped ease fears of an escalating U.S.-China trade dispute.
The U.S. economy created more jobs than expected in June, but steady wage gains pointed to moderate inflation pressures that should keep the Federal Reserve on a path of gradual interest rate increases this year.
U.S. satellite group EchoStar dropped a $3.2 billion takeover approach for Inmarsat on Friday after failing with a late attempt to persuade the British company into talks.
Oil was mixed on Friday, with short-covering pushing up U.S. crude futures while Brent slipped on global trade tensions and increased Saudi production.
Thyssenkrupp will embark upon a planned refinement of its strategy only after a new chief executive is named, the company’s management board wrote to employees on Friday.
U.S. stocks rose on Friday as stronger-than-expected jobs growth in June and a surge in Biogen’s shares eased concerns about an escalating U.S.-China trade dispute after the two economies slapped tariffs on each other’s imports worth $34 billion.
Airbus on Friday raised its forecast for aircraft demand over the next 20 years as it begins to recover from two years of late deliveries of its A320neo passenger jet.
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