J.C. Penney’s loss smaller than expected, shares soar 13%
J.C. Penney Co Inc on Friday reported a smaller-than-expected quarterly loss on lower ad spending and higher margins, results Chief Executive Jill Soltau said showed efforts to revive sales and profits at the department store are taking hold.
Mexican president welcomes Pelosi remarks on North American trade deal approval
Mexico’s president Andres Manuel Lopez Obrador on Friday welcomed remarks by U.S. House Speaker Nancy Pelosi that U.S. legislators were making progress in the ratification of the United States-Mexico-Canada Agreement (USMCA) trade deal.
Vivendi may cut Mediaset stake in deal to end legal tussles: sources
Vivendi could reduce its holding in Italian broadcaster Mediaset in a potential deal to end a long-running legal row between the two companies, three sources close to the matter said on Friday.
U.S. retail sales rebound, but big-ticket purchases drop
U.S. retail sales rebounded in October, but consumers cut back on purchases of big-ticket household items and clothing, which could temper expectations for a strong holiday shopping season.
Wall Street hits record high at open on trade deal hopes, strong earnings
Wall Street’s main indexes hit record highs at open as upbeat comments related to U.S.-China trade talks and strong earnings from semiconductor industry bellwether Applied Materials helped lift the mood.
Take Five: Fighting fires
How big a risk is a global economic recession? Recently, hopes of a fledgling growth turnaround were doused by data showing China’s factory output growth slowing in October and Japan’s economy grinding to a standstill in Q3. And Germany only narrowly a…
Volkswagen installs BMW executive as new Audi chief
Volkswagen on Friday said former BMW executive Markus Duesmann, an expert in procurement and engine development, will take over as Volkswagen Group’s board member responsible for research and as head of Audi.
Oil prices little changed amid concerns about rising supplies
Oil prices fluctuated around flat on Friday as investors weighed concerns about rising supplies next year and signs of progress toward ending the U.S.-Chinese trade row.
Global debt to top record $255 trillion by year’s end
Global debt is on course to end 2019 at a record high of more than $255 trillion, the Institute of International Finance estimated on Friday — nearly $32,500 for each of the 7.7 billion people on planet.
U.S., China trade talks to continue Friday: U.S. commerce chief
U.S.-China trade talks are set to continue with a telephone call on Friday as both sides seek to hammer out a phase one trade pact, U.S. Commerce Secretary Wilbur Ross said, adding that progress was being made on the agreement’s details.
