U.S. job growth slows sharply in May; wage gains moderate
U.S. job growth slowed sharply in May and wages rose less than expected, suggesting the loss of momentum in economic activity was spreading to the labor market, which could increase calls for the Federal Reserve to cut interest rates this year.
UBS switches stance with plan to offer $113 million tax settlement in Italy
UBS looks set to agree a 100 million euro ($113 million) settlement of a money laundering and tax case in Italy within the next few weeks, according to people familiar with the matter, in contrast to a similar case in France.
U.S.-Mexico migration talks continue as Trump returns to Washington
U.S.-Mexico migration talks were set to resume on Friday as Mexican officials continue their push to reach an agreement that would avert U.S. tariffs set to take effect next week.
Stocks target best week since April on rate-cut hopes; U.S. jobs data awaits
European shares climbed on Friday as hopes that central banks would loosen policy offset trade friction and the threat of global recession, putting them on track for their best week in two months.
Europe’s 5G to cost $62 billion more if Chinese vendors banned: industry
A ban on buying telecoms equipment from Chinese firms would add about 55 billion euros ($62 billion) to the cost of 5G networks in Europe and delay the technology by about 18 months, according to an industry analysis seen by Reuters.
Toyota speeds up electric vehicle schedule as demand heats up
Toyota Motor Corp aims to get half of its global sales from electrified vehicles by 2025, five years ahead of schedule, and will tap Chinese battery makers to meet the accelerated global shift to electricity-powered cars.
IBM, T-Systems scrap mainframe venture after German criticism
IBM has withdrawn an application for anti-trust approval for a mainframe computing venture with T-Systems, the IT services arm of Deutsche Telekom, after the German cartel office made a critical initial assessment of the plan.
European shares boosted by rate-cut hopes before U.S. jobs data
European stocks gained ground on Friday as hopes that central banks would loosen policy offset trade friction and the threat of global recession, putting indexes on track for their best week in two months.
Swiss Re plans $4.5 billion IPO for UK unit to help expansion
Swiss Re is pressing ahead with plans to float its $4.5 billion UK life insurance business in London to put it under a more favorable regulatory regime and give it easier access to capital to fund its expansion.
Gucci parent Kering moves to tighten grip on e-commerce
Kering, owner of brands including Gucci, will tighten its grip on its e-commerce operations, focusing on its own branded sites to sell its luxury products or ventures where it can control its image and client data.
