Wall Street hits record high on rate cut optimism
The three main indexes hit record intraday highs on Friday, continuing a strong run for the week on hopes of an interest rate cut this month, while investors waited for the start of the corporate earnings season next week.
Exclusive: Pentagon races to track U.S. rare earths output amid China trade dispute
The Pentagon is rapidly assessing the United States’ rare earths capability in a race to secure stable supply of the specialized material amid the country’s trade conflict with China, which controls the rare earths industry, according to a government d…
Slimmed-down WPP to net $3.1 billion selling Kantar stake to Bain
WPP is selling a 60% stake in Kantar to private equity firm Bain Capital, valuing the data analytics business at about $4 billion and giving the British owner of agencies including Ogilvy and Wunderman Thompson funds to cut debt and rebuild.
Boeing 737 MAX to remain off United Airlines’ schedule until November 3
United Airlines Holdings said on Friday the Boeing 737 MAX would stay off its flight schedule until Nov. 3, a fresh extension leading to about 2,100 cancellations in September and 2,900 in October as the jets remain grounded worldwide.
Johnson & Johnson faces criminal probe related to baby powder: Bloomberg
The U.S. Justice Department is pursuing a criminal probe into whether Johnson & Johnson lied about potential cancer risks of its talcum powder, Bloomberg reported, citing people with knowledge of the matter.
AB InBev Asia delays pricing world’s largest IPO of 2019: sources
Budweiser Brewing Company APAC , the Asia-Pacific business of Anheuser-Busch InBev (AB InBev) , has delayed pricing its Hong Kong IPO in what was set to be world’s biggest listing of 2019, two people with knowledge of the matter said.
Oil edges up as storm hampers U.S. supply, glut forecasts weigh
Oil futures edged up on Friday as U.S. Gulf of Mexico crude output was halved by disruptions caused by a tropical storm, but concerns over a global surplus in the months ahead limited gains.
Wall Street stocks climb, dollar drops on rate-cut optimism
Wall Street stocks closed higher and the dollar fell on Friday as investors prepared for a U.S. interest-rate cut, while oil futures were little changed as a forecast for a global crude surplus offset worries about U.S. output declines due to a tropica…
U.S. producer prices rise marginally, suggest tame inflation
U.S. producer prices rose slightly for the second straight month in June as an acceleration in the cost of services was offset by cheaper energy goods, resulting in the smallest annual increase in producer inflation in nearly 2-1/2 years.
Canada’s struggling energy industry takes stock at annual Stampede party
Frustration is palpable among Canadian energy executives who have flocked to the annual Calgary Stampede celebrations in Canada’s oil capital this week, even though a recent pipeline approval gives them something to celebrate amid the rodeo competition…
