After three rate cuts, Fed policymakers are done for now
Speaking in events across the country, Federal Reserve policymakers hammered home the message that Fed Chair Jerome Powell delivered earlier this week: that after cutting borrowing costs three times this year, the Fed is now done.
S&P 500, Nasdaq hit record highs on U.S. jobs report, China data
Wall Street’s main indexes climbed on Friday, as concerns over global growth were allayed by largely upbeat U.S. jobs report and data out of China that showed factory activity expanded at its fastest pace in more than two years.
Clarida says U.S. economy, Fed policy ‘in a good place’
The Federal Reserve’s three interest rate cuts this year have provided “significant support” for the U.S. economy whose full effects are yet to be felt, Fed Vice Chair Richard Clarida said on Friday, elaborating on the case for why the central bank is …
Exxon, Chevron earnings fall on lower oil and gas prices
Exxon Mobil Corp and Chevron Corp on Friday posted sharply lower quarterly results despite increases in oil and gas production as lower energy prices soured earnings for most oil majors.
Oil rises 2% on U.S.-China trade hopes, but set for weekly drop
Oil prices rose 2% on Friday on signs of progress in U.S.-China trade talks and stronger-than-expected economic data in both countries, including U.S. employment and Chinese manufacturing activity numbers.
Google taps fitness tracker market with $2.1 billion bid for Fitbit
Alphabet Inc-owned Google will buy Fitbit Inc for $2.1 billion, as the biggest Web search company looks to take on Apple and Samsung in the crowded market for fitness trackers and smart watches.
China may impose $3.58 billion in annual trade sanctions on U.S.: WTO panel
A World Trade Organization (WTO) panel said on Friday that China was entitled to slap compensatory sanctions on U.S. imports worth $3.579 billion annually for the U.S. failure to remove anti-dumping duties – roughly half the amount China had sought.
Fed’s Kaplan says he supported rate cut only if Fed signaled nothing further
Dallas Federal Reserve Bank President Robert Kaplan said on Friday he went along with the U.S. central bank’s rate cut this week contingent on the Fed signaling that no further decreases to borrowing costs were likely, barring a material change in the …
Fosun Tourism to buy Thomas Cook, related hotel brands for $14.3 million
China’s Fosun Tourism Group said on Friday it would acquire the Thomas Cook and related hotel brands for 11 million pounds ($14.25 million), in a bid to expand its presence in the tourism business.
Three flight attendant unions voice alarm after 737 MAX hearings
Unions representing flight attendants at the three U.S. airlines that operate Boeing Co’s 737 MAX said they are more reluctant to support the grounded jet’s return after congressional hearings this week on its development.
