Huawei unveils Harmony operating system, won’t ditch Android for smartphones
Huawei Technologies unveiled on Friday its proprietary operating system for smartphones and other devices, as U.S. trade restrictions imposed in May threaten to cut the Chinese firm’s access to U.S. technologies such as Android.
Wall Street extends fall as Trump’s comment amplifies trade fears
Wall Street’s main indexes added to losses on Friday after President Donald Trump said he was not going to make a deal with China for now, exacerbating fears that the U.S.-China trade stand-off would aggravate the global economic slowdown.
Tame U.S. producer inflation supports case for another rate cut
U.S. producer prices increased moderately in July, lifted by a rebound in the cost of energy products, while underlying producer inflation retreated, which could allow the Federal Reserve to cut interest rates again next month.
Oil rises on European stockdraw despite demand slowdown forecast
Oil prices rose by about 3% on Friday, supported by a drop in European inventories and expectations of more OPEC output cuts despite the International Energy Agency reporting demand growth at its lowest since the financial crisis of 2008.
Walmart asks employees to pull violent video game signage from stores
Walmart Inc said on Friday it has asked employees at its stores across the United States to take down signs and playable demos of violent video games but has made no changes to its policy on selling firearms.
Daimler faces up to 1 billion euro diesel fine: Der Spiegel
Prosecutors in Stuttgart, Germany are set to fine Mercedes-Benz parent Daimler between 800 million euros ($895 million) and 1 billion euros for diesel-related violations, German magazine Der Spiegel said in its online edition on Friday.
Gold gains as trade concerns weigh on global markets
Signs of further escalation of the U.S.-China trade war and weak UK economic data weighed on global markets on Friday, capping a volatile week that has pushed gold to its highest level in six years.
Bayer mediator says no Roundup settlement figures have been discussed
Bayer AG has not offered to pay billions of dollars to settle claims in the United States related to the Roundup herbicide, mediator Ken Feinberg said, after a report of such a settlement had driven shares as much as 11% higher.
Wall Street opens lower on trade worries
U.S. stocks opened lower on Friday, dragged down by technology shares, as investors grappled with fresh U.S.-China trade tensions, political turmoil in Italy and a surprise contraction in Britain’s economy.
Europe rattled by Italy, Brexit stress; safe havens keep gaining
Trade war worries and the prospect of early elections in Italy and Britain hit European markets hard on Friday, while the search for safety left gold on course for its best week in three years, Japan’s yen near an eight-month high and bonds surging.
