Deutsche Bank has set aside over 1 billion euros ($1.1 billion) to cover the cost of offloading derivatives in its 'bad bank,' or capital release unit, three sources at the bank told Reuters.
A measure of stocks across the globe was on track to post its largest weekly loss of the year on Friday while yields in U.S. and German debt were near multi-year lows, after China vowed to retaliate against a possible new round of U.S. tariffs.
The U.S. economy is adding lots of jobs, but a drop in the number of hours at work points to a dimmer outlook for economic growth as businesses brace for an escalating trade war with China.
U.S. stocks tumbled to a one-month low on Friday after a sharp escalation in U.S.-China trade tensions and a tepid July jobs report renewed fears of slowing economic growth and raised bets of further interest rate cuts this year.
JPMorgan was on Friday poised to become the first foreign company to hold a majority stake in a Chinese mutual fund business, two sources said, setting a precedent that one analyst said would trigger a wave of similar transactions.
China's new ambassador to the United Nations, Zhang Jun, said on Friday that if the United States wanted to fight China on trade, "then we will fight" and warned that Beijing was prepared to take countermeasures over new U.S. tariffs.
U.S. job growth slowed in July and manufacturers slashed hours for workers, which together with an escalation in trade tensions between the United States and China could give the Federal Reserve ammunition to cut interest rates again next month.
Two American icons hung out in an Omaha, Nebraska ice cream shop on Thursday afternoon.
Quarterly reports next week from Walt Disney Co , CBS and Viacom will likely highlight increasing competition in video streaming and could spark volatility in the so-called communication services sector, which has outperformed since it was overhauled last year.
Alphabet Inc's Google will allow rivals to compete to be the default search engines on new Android devices in Europe, but they will have to pay for the privilege.
U.S. Transportation Secretary Elaine Chao is set to grant tentative approval on Friday for an expanded transatlantic joint venture including Delta Air Lines Inc , Air France KLM SA and Virgin Atlantic, a source briefed on the matter said.
Oil prices were up 3% on Friday, a partial rebound from their biggest daily drop in several years on U.S. President Donald Trump's vow to impose more tariffs on Chinese imports.
India's biggest automaker, Maruti Suzuki India Ltd , said it had cut the number of its temporary workers to cope with a slowdown in auto sales, adding to the jobless problem in Asia's third largest economy.
China on Friday vowed to fight back against U.S. President Donald Trump's abrupt decision to slap 10% tariffs on the remaining $300 billion in Chinese imports, a move that ended a month-long trade truce.
Wall Street extended its sell-off on Friday as renewed U.S.-China trade jitters and a slowdown in job growth put all three major U.S. stock indexes on pace for their worst week since December, when markets hit their trough amid recession fears.