Deutsche Bank to pay Vestia 175 million euros settlement in derivatives suit
Dutch housing cooperation Vestia said on Friday Deutsche Bank would pay it 175 million euros ($197 million) to settle claims the German bank had improperly sold it interest rate derivatives.
U.S. producer prices rise slightly; cost of goods declines
U.S. producer prices rose slightly in June as the cost of energy and other goods fell for a second straight month, offsetting an acceleration in services, leading to the smallest annual increase in producer inflation in nearly 2-1/2 years.
Oil prices edge up on tropical storm and geopolitical tensions
Oil prices inched higher on Friday and were on track for a weekly gain as U.S. oil producers in the Gulf of Mexico cut more than half their output because of a tropical storm and as tensions continued to simmer in the Middle East.
Ford, VW join forces on electric, autonomous cars
Ford and Volkswagen joined forces to develop autonomous and electric cars on Friday and said they were also looking at other areas of cooperation, deepening a global alliance to slash development and manufacturing costs.
Volkswagen investment vaults Argo into top ranks of self-driving firms
Volkswagen AG’s $2.6-billion investment in Ford Motor Co’s Argo AI self-driving unit, announced on Friday, immediately vaults the two-year-old Pittsburgh-based startup into the top ranks in the sector.
Shares flat as investors digest economic data, dollar dips for third day
World shares came within a whisker of posting their first weekly loss since May on Friday and the dollar was down for a third day running, as even stronger than expected U.S. inflation failed to shake bets on Federal Reserve interest rate cuts.
Expectations are low for bank earnings but investors say ‘buy’
Low interest rates and weak trading volume have pushed down Wall Street’s second-quarter estimates for the biggest U.S. banks, yet investors still say they want in on the sector.
Airbus pulls anniversary book over fraud probe concerns: sources
Airbus has halted sales of a new book that the planemaker had commissioned for its 50th anniversary to avoid hampering the manufacturer’s attempts to win a settlement in a bribery probe, two people familiar with the matter said.
China copper imports in June fall 27% from a year earlier
China’s unwrought copper imports in June fell 27.2% from a year earlier, official data showed on Friday, as a slowdown in the world’s second-biggest economy continues to weigh on demand for the metal.
China June trade surplus with U.S. rises 11% to $29.92 billion
China’s trade surplus with the United States, a major source of friction with its biggest trading partner, rose 11% in June to $29.92 billion from $26.9 billion in May, customs data showed on Friday.
