U.S. consumer spending slows; business investment weak
U.S. consumer spending barely rose in August and business investment remained weak, suggesting the economy was losing momentum as trade tensions linger.
U.S. consumer spending barely rose in August and business investment remained weak, suggesting the economy was losing momentum as trade tensions linger.
U.S. stocks opened higher on Friday as financials rose but the S&P 500 and Nasdaq may still end a volatile week in the red as the shock of the launch of an impeachment investigation into President Donald Trump offsets positive cues on trade.
Shares in LATAM Airlines Group surged more than 30% at the market open on Friday, the day after Delta Air Lines said it would buy a 20% stake in the company for $1.9 billion, creating a major new airline partnership and ending the Chilean carrier's ties with American Airlines.
It's no longer a probability, it's a reality: the escalating U.S.-China trade war and the strengthening dollar appear to be inflicting measurable damage on U.S. goods makers that rely on global markets.
The United States and European Union are edging closer to a tariff war over aircraft subsidies after a 15-year-old dispute at the World Trade Organization.
Pfizer Inc said on Friday Ian Read will retire as executive chairman at the end of this year, after a four-decade association with the largest U.S. drugmaker that included eight years as chief executive officer.
Wells Fargo & Co named banking veteran Charles Scharf as chief executive officer on Friday, the lender's third CEO since a wide-ranging sales scandal erupted three years ago.
Boeing Chief Executive Dennis Muilenburg has agreed to testify before Congress next month on the grounded 737 MAX that was involved in two fatal crashes that killed 346 people, a U.S. House of Representatives committee and the company said on Friday.
The S&P 500 and Nasdaq slipped on Friday, pulled lower by a slide in Micron shares after the chipmaker blamed U.S.-China trade tensions for its downbeat first-quarter profit forecast, but gains in financials kept the Dow in positive territory.
Mylan NV will pay a $30 million civil fine to settle U.S. Securities and Exchange Commission charges it concealed a possible loss related to a federal probe on whether it overcharged Medicaid by hundreds of millions of dollars for sales of its EpiPen Auto-Injector.
U.S. consumers are getting increasingly anxious about the trade war with China despite a recent thaw in the tensions ahead of the trade talks next month.
The scandal-ridden bank says Scharf will assume the chief executive role, effective Oct. 21, ending months of searching for a new leader.
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The United States and European Union are edging closer to a tit-for-tat tariff war over aircraft subsidies as a 15-year-old dispute at the World Trade Organization reaches its climax.
Toyota Motor Corp will raise its stake in Subaru Corp to 20% from around 17%, the two Japanese automakers said on Friday, as they leverage their scale to better compete in developing new vehicle technologies.