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.
Shares rise as trade optimism muffles impeachment noise
World shares erased losses on Friday, buoyed by a wave of optimism that U.S.-China trade tensions might be easing as markets largely brushed off concerns about possible impeachment moves against U.S. President Donald Trump.
Portugal sets aside 150 million euros to offer credit to firms hit by Thomas Cook collapse
The Portuguese government has earmarked 150 million euros ($164 million) worth of credit to help local companies affected by the collapse of British travel firm Thomas Cook, the cabinet said on Friday.
UK to repatriate 16,000 people on fifth day after Thomas Cook collapse
UK’s Civil Aviation Authority said on Friday 72 flights are scheduled to operate to bring back a further 16,000 people to the country following the collapse of Thomas Cook.
Latam Airlines shares jump over 30% after Delta says it will buy stake
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 t…
Pfizer veteran Ian Read to retire as executive chairman
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 taps BNY Mellon’s Charles Scharf as CEO
Wells Fargo & Co on Friday named banking veteran Charles Scharf its next chief executive officer effective next month, ending a six-month search.
Oil shipping rates soar as U.S. supertanker sanctions rattle crude trade
Key oil freight rates from the Middle East to Asia rocketed as much as 28% on Friday in a global oil shipping market spooked by United States sanctions on units of Chinese giant COSCO for alleged involvement in ferrying crude out of Iran.
Oil product shipping rates in Asia hit near two-week high after U.S. sanctions
Freight rates for shipping naphtha and other clean oil products from the Middle East to Japan have jumped 13% to their highest levels in nearly two weeks after Washington imposed sanctions on tanker subsidiaries of China’s COSCO, according to industry …
Spillover: world economies’ next big headache
Factories have been the first victims of the Trump-era global trade rows. Now the question is how much their troubles will spread to other parts of the world’s biggest economies: the so-called spillover effect.
