Australia said it would establish the world's first dedicated office to police Facebook Inc and Google as part of reforms designed to rein in the U.S. technology giants, potentially setting a precedent for global lawmakers.
The U.S. economy likely grew at its slowest pace in more than two years in the second quarter as an acceleration in consumer spending was probably offset by weak exports and business investment.
Chinese authorities investigating FedEx Corp suspect the U.S. delivery company illegally withheld more than 100 packages of Huawei Technologies and that it also violated other laws, state news agency Xinhua reported on Friday.
French carmaker Renault on Friday cut its 2019 revenue outlook, on the back of falling demand and tough conditions within the automotive industry.
Oil prices edged higher on Friday on worries about Middle East tensions, offset by a flagging global economic growth outlook amid the U.S.-China trade war.
Asian share prices dropped on Friday following mixed U.S. earnings reports and after the European Central Bank disappointed those investors who had expected an immediate easing while the euro held above two-year lows struck overnight.
The Australian Competition and Consumer Commission has found, after an 18-month investigation, that Google and Facebook hold enormous power in the country's online advertising and news distribution markets, and that antitrust and privacy laws have not caught up to the real world.
A new licensing process for legal cannabis producers in Canada limits the ability of smaller companies to attract investment, which could leave the fledgling industry dominated by companies with deep pockets or those who got a foot in the door prior to regulation changes in May, industry executives said.
Renault warned that revenue may decline this year, scrapping a previous goal, after first-half profit was hit by weakening car demand and an earnings collapse at alliance partner Nissan in the wake of the Carlos Ghosn scandal.
Oil prices edged higher on Friday on worries about Middle East tensions, though a flagging global economic growth outlook amid the U.S.-China trade war capped gains.
Renault warned revenue may decline this year, scrapping a previous goal, after first-half profit was hit by weakening car demand and an earnings collapse at alliance partner Nissan in the wake of the Carlos Ghosn scandal.
American delivery firm FedEx Corp likely withheld more than 100 packages of Huawei, a report said, while the Chinese tech giant also blamed U.S.-listed Flex for seizing its goods, as Sino-U.S. tensions further strain business ties.
European stocks staged a tentative recovery on Friday as solid earnings at several U.S. companies helped investors overcome the disappointment of the European Central Bank's failure to deliver immediate policy easing.
Oil prices rose on Friday and were on track for a weekly increase as geopolitical tensions over Iran remained unresolved, although flagging prospects for global economic growth amid the U.S.-China trade war capped gains.
Automakers are accelerating the rollout of technology designed to avoid crashes, but insurance companies are waving a caution flag at consumers eyeing discounts for buying collision-avoiding brakes or automated cruise control.