The pound rose to a three-and-a-half year high versus the euro and the highest in more than a year versus the dollar after exit polls suggested a win for the Conservatives, which should help ensure the UK’s smooth exit from the European Union.
Business Category Archive
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.
China and the United States are in close communication on trade, its commerce ministry said on Thursday, declining to comment on possible retaliatory steps if Washington imposes more tariffs on Chinese goods this weekend.
1/WHAT’S THE DEAL?
U.S. stock index futures rose on Friday on hopes that the United States and China could 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.
Oil prices extended gains on Friday, scaling three-month highs as the United States and China moved closer to a resolution to the 18-month trade war between the world’s two biggest economies that has raised big questions about global demand for crude.
Tougher rules on sulphur emissions from ships will come into effect next year in the biggest shake-up for the oil and shipping industries for decades.
Hundreds of thousands of investors trapped in the former flagship fund of veteran money manager Neil Woodford should get just over half their money back in January, but may have to wait some time to recover more from the collapsed business.
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.
U.S. chipmaker Nvidia
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.
The scrapping of a second Canadian IPO in as many months this week caps a year of declining activity, highlighting the challenges facing issuers as trade uncertainty and the growth of passive investing weigh on new offerings.
Banks in Britain are drawing up fresh proposals for how they could access customers in the European Union after Brexit in a bid to influence UK-EU trade talks next year following the Conservative Party’s resounding election victory.
Bank of America analysts on Friday predicted bullish investors would continue to drive equity markets higher early next year.
U.S. import prices rebounded modestly in November and the underlying trend remained soft, consistent with subdued imported inflation pressures.
U.S. retail sales increased less than expected in November as Americans cut back on discretionary spending, which could see economists dialing back economic growth forecasts for the fourth quarter.
Russia’s agriculture safety watchdog may put temporary restrictions on imports of citrus fruit and potatoes from China after finding pests in several supplies, it said on Friday.
Fifty-two countries and other donors have pledged $23.5 billion in new funds for the world’s poorest states, pushing replenishment of the International Development Association (IDA) fund to a record $82 billion, the World Bank said on Friday.
Britain’s retail sector was boosted by Prime Minister Boris Johnson’s resounding general election victory on Friday, as investors factored in expectations of a step-up in consumer sentiment and spending in the key holiday season period.
Barely a day goes by without Mexican President Andres Manuel Lopez Obrador berating business and political elites, whom he blames for fueling the country’s poverty and corruption.
Asian share markets were looking to steam higher on Friday amid reports a last-gasp trade deal had been struck that would avert new U.S. tariffs on China, while Prime Minister Boris Johnson’s Conservative Party looked to have won a clear majority in the UK elections.
When the U.S. ethanol industry was booming, Indiana farmer Paul Hodgen made good money selling about a quarter of his crop to a local facility that produced the corn-based fuel.
The Swiss government took a downbeat view of creating a central bank digital currency for public use, saying it could do more harm than good and destabilize the financial system.
Britain’s economy will cast off some of the Brexit uncertainty that has held it back since 2016 after Prime Minister Boris Johnson’s election triumph, but the risk remains of another “cliff-edge” showdown with Brussels in a year’s time.
Chinese police on Friday detained the chairman and chief executive officer of New York-listed Fincera Inc
Samsung Electronics <005930.KS> vice-president Kang Kyung-hoon received a 16-month jail term on Friday on charges of union-busting activities, South Korean media reported on Friday.
An Italian prosecutor has presented a bankruptcy request against information technology and e-commerce group CHL
California power producer PG&E Corp
A four-word handwritten note by a JPMorgan Chase & Co
The Bank of Japan is set to keep monetary policy steady next week, as receding fears of a disorderly Brexit and signs of progress in U.S.-China trade talks take some pressure off the central bank to use its dwindling ammunition to underpin growth.
The results of British elections are positive in the short term as they eliminate uncertainty regarding Britain’s exit process from the European Union, the European Central Bank’s Vice-president Luis de Guindos said on Friday.
A surge for London-listed companies brought European stock markets within striking distance of an all-time high on Friday, as investors cheered the likelihood of an orderly Brexit after a landslide election victory for Prime Minister Boris Johnson.
The British public’s expectations for inflation in the coming year eased last month, a Bank of England survey showed on Friday, matching similar reports from other surveys.
Telenor has picked Sweden’s Ericsson as the key technology provider for its fifth-generation (5G) telecoms network in Norway, it said on Friday, gradually removing China’s Huawei [HWT.UL] after a decade of collaboration over 4G.
At least three bidding groups including private equity firm Apollo have emerged as buyers of Thomas Cook’s German airline Condor, Germany’s Wirtschaftswoche said on Friday.
The German economy faces another sluggish year despite a likely rebound in exports as households see their spending power shrink, the country’s central bank said on Friday as it halved its growth forecast for 2020.
Two Chinese cities loosened rules this week to make it easier for individuals to purchase houses or obtain residency, effectively expanding a pool of potential home buyers to prop up moribund residential property markets.
Qantas Airways Ltd
U.S. President Donald Trump congratulated British Prime Minister Boris Johnson on the latter’s election win and said that Britain and the United States will now be free to strike a ‘massive’ new trade deal after Brexit.
Israel’s aviation regulator has ordered airlines with Boeing Co
Indonesia’s trade balance is likely to have returned to a deficit in November after a surprise surplus in the prior month, a Reuters poll showed on Friday.
Prime Minister Scott Morrison on Friday appointed a woman to head a major Australian spy agency for the first time.
The European Commission expect European Union leaders on Friday to grant it a mandate for talks with Britain on a future trade agreement, the head of the Commission Ursula von der Leyen told a news conference.
The U.S. Federal Trade Commission is considering seeking a preliminary injunction against Facebook Inc over antitrust concerns related to how its products interact, The Wall Street Journal reported on Thursday citing people familiar with the matter.
A U.S. labor board on Thursday approved McDonald’s Corp’s
Southwest Airlines Co
Cboe BZX Exchange has sought permission from the Securities and Exchange Commission to list shares of an exchange traded fund that would let investors bet against stock market gyrations, according to a regulatory filing.
When China’s top legislature criticized a Hong Kong court’s rejection of a face mask ban there, some global firms began to fear the potential for mainland interference in commercial contracts, lawyers and finance executives said.
Business confidence at big Japanese manufacturers worsened in the three months to December to its lowest level more than six years, the central bank’s “tankan” survey showed, as the prolonged U.S.-China trade war and global slowdown weigh on the export-led economy.