Business & Finance News
U.S. President Donald Trump and Chinese officials said Friday that they have agreed to a “phase one” trade deal that included cutting U.S. tariffs on Chinese goods.
The United States agreed to modify its tariffs on Chinese goods in a “significant way” under a phase one trade agreement with Beijing, while China would buy substantially more U.S. goods and services, the U.S. Trade Representative’s office said on Friday.
Shares of OneConnect Financial Technology jumped 5% in their U.S. market debut on Friday, valuing the Chinese cloud tech firm at $3.79 billion.
Uber submitted an appeal on Friday against a decision by London’s transport regulator to strip the taxi app of its right to operate in one its most important markets, setting up a potentially lengthy legal process during which it can continue to take rides.
U.S. stocks hit fresh record levels on Friday after China said first phase trade talks with the United States have achieved major progress and that Beijing would cancel tariffs scheduled to take effect on Sunday.
U.S. retail sales increased less than expected in November as Americans cut back on discretionary spending despite a strong labor market, raising fears of a much faster slowdown in fourth-quarter economic growth than currently anticipated.
U.S. business inventories increased in October, lifted by stocks at retailers, suggesting inventory investment could again contribute to economic growth in the fourth quarter.
China has postponed a news briefing to give an update on progress in trade talks with the United States until around 11:00 p.m. local time (1500 GMT) on Friday, half an hour later than originally scheduled.
Sunday is the deadline for a trade deal to prevent President Trump’s new U.S. tariffs on China from taking effect.
Ford Motor Co said on Friday it would recall 547,538 of its Ford Super Duty pickup trucks across the United States, Canada and Mexico, citing the risk of a post-crash interior fire.
Wall Street was set to open higher on Friday on hopes that the United States and China would reach an initial deal to end their trade war after Washington set its terms for an agreement, just days before fresh levies on Chinese goods kick in.
President Donald Trump on Friday said a Wall Street Journal story on a U.S. trade deal with China is completely wrong.
Mothercare Plc said on Friday it had agreed to supply baby care and other products exclusively to Boots UK stores, keeping its goods on British shelves after the collapse of its retail network in its home market.
U.S. chipmaker Nvidia has not offered any concessions to EU antitrust regulators examining its $6.8 billion bid for Mellanox Technologies , the European Commission website showed on Friday.
The U.S. Securities and Exchange Commission risks weakening investor protections if it allows companies to raise money in the public market through a direct listing without the support of underwriting banks, an influential broker group said on Friday.
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