Business & Finance News
BERLIN (Reuters) – U.S. tariffs on imported cars could lead BMW to reduce investment and cut jobs in the United States due to the large number of cars it exports from its South Caroline plant, the German carmaker has warned.
RIYADH (Reuters) – U.S. President Donald Trump said in a tweet on Saturday that Saudi Arabia’s King Salman had agreed to his request to increase oil production “maybe up to 2,000,000 barrels” to offset production from Iran and Venezuela.
ZURICH (Reuters) – The chairman of Swiss drugmaker Novartis expects Alcon to be valued at between $20 billion and $30 billion when the opthalmic devices unit is spun off to shareholders next year, he said in an interview with Finanz und Wirtschaft.
(Reuters) – A Missouri appeals court on Friday threw out a $55 million verdict against Johnson & Johnson in a lawsuit by a woman who claimed she developed ovarian cancer after using talc-based products, including J&J’s baby powder, citing a U.S. Supreme court ruling on where such cases can be brought.
BEIJING (Reuters) – Growth in China’s manufacturing sector slowed in June after a better-than-expected performance in May, official data showed, as escalating trade tensions with the United States fuel concerns about a slowdown in the world’s second-biggest economy.
(Reuters) – General Motors Co warned on Friday that higher tariffs on imported vehicles under consideration by the Trump administration could cost jobs and lead to a “a smaller GM” while isolating U.S. businesses from the global market.
ABOARD AIR FORCE ONE (Reuters) – President Donald Trump said on Friday his administration’s investigation into whether to increase tariffs on cars from the European Union and other trading partners would be completed in three to four weeks.
SAN FRANCISCO (Reuters) – As Toys “R” Us Inc stores across the United States marked their final day in business on Friday, the bankrupt toy retailer posted a farewell message to customers on its website next to an image of its iconic Geoffrey the Giraffe mascot thanking them and urging them to “Play on!”
NEW YORK (Reuters) – Wall Street’s major stock indexes edged higher on Friday, as a surge in Nike Inc shares helped the quarter close out on an upswing while concerns over U.S. international trade relations ebbed.
WASHINGTON (Reuters) – This year’s Federal Reserve stress test results suggested a more flexible approach, a further sign the regulator’s new leadership is responding positively to a Wall Street push for pragmatic bank supervision, analysts and lawyers said.
(Reuters) – Apple Inc is rebuilding the widely used mapping application on its iPhones from the ground up with its own dataset, but Amsterdam-based TomTom NV will continue to be a data provider for Apple’s maps app, Cupertino, California-based Apple told Reuters on Friday.
OTTAWA/WASHINGTON (Reuters) – Canada struck back at the Trump administration on Friday over U.S. steel and aluminum tariffs, vowing to impose punitive measures on C$16.6 billion ($12.63 billion) worth of American goods until Washington relents.
(Reuters) – Comcast Corp said on Friday services interrupted by two separate incidents of fiber cuts at its network providers were being restored.
NEW YORK (Reuters) – A surge in Nike Inc shares and a rally in bank stocks lifted Wall Street’s major stock indexes on Friday, though all three still posted weekly declines.Based on the latest available data, the Dow Jones Industrial Average rose 59.29 points, or 0.24 percent, to 24,275.34, the S&P 500 gained 2.32 points, or 0.09 percent, to 2,718.63 and the Nasdaq Composite added 6.62 points, or 0.09 percent, to 7,510.30.
(Reuters) – General Motors Co warned on Friday that expansive U.S. tariffs on imported vehicles being considered by the Trump administration could lead to a “a smaller GM” with fewer jobs while isolating U.S. businesses from the global market.
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