U.S. hiring cools; manufacturers reduce hours for workers
U.S. job growth slowed in July and manufacturers slashed hours for workers, which together with an escalation in trade tensions between the United States and China could give the Federal Reserve ammunition to cut interest rates again next month.
Exclusive: Deutsche Bank faces $1.1 billion bill to exit derivatives
Deutsche Bank has set aside over 1 billion euros ($1.1 billion) to cover the cost of offloading derivatives in its ‘bad bank,’ or capital release unit, three sources at the bank told Reuters.
Amazon in talks to buy stake in India’s Reliance Retail: sources
Amazon.com Inc is in talks with Reliance Industries Ltd’s retail unit to buy a stake in India’s biggest brick-and-mortar retailer, two sources with knowledge of the talks told Reuters on Friday.
Trump accuses China’s Xi of failing to halt fentanyl exports to U.S.
U.S. President Donald Trump on Thursday accused his Chinese counterpart of failing to meet promises to stem a deluge of the synthetic opioid fentanyl into the United States, after months of praising Chinese President Xi Jinping for his pledges.
Levi’s slims down China supply chain exposure as trade war rages on
Levi Strauss & Co has been “deliberate and diligent” in moving production out of China because of uncertainty hanging over tariffs on goods imported from China, Chief Executive Officer Chip Bergh said in an interview with Reuters.
Wall Street drops to one-month low on trade, growth fears
Wall Street’s main indexes sank to one-month lows on Friday after a sharp escalation in U.S.-China trade tensions and tepid job growth in July reinforced fears of a global economic slowdown.
U.S. consumer sentiment unchanged in late July: UMich
U.S. consumer sentiment held steady in late July from earlier in the month as optimism about personal finance offset uncertainties about the trade conflict between Washington and Beijing, a private survey released on Friday showed.
U.S. tariff threat may compound Apple’s iPhone woes: BofA
Apple Inc could see a hit to its annual earnings from U.S. President Donald Trump’s newly proposed 10% tariff on Chinese imports from Sept. 1, analysts from Bank of America Merrill Lynch said on Friday.
Volvo Cars, China in first blockchain project for recycled cobalt
Volvo Cars, owned by China’s Geely [GEELY.UL], has produced the first cars containing recycled cobalt mapped using a blockchain, and has joined a separate project to monitor cobalt from Democratic Republic of Congo, Volvo said.
Google to allow rivals to bid for place among default Android options
Alphabet’s Google will allow rivals to buy the chance of winning default search engine status on new Android devices in Europe, the U.S. company said on Friday in its latest proposal to ward off fresh EU antitrust penalties.
