Shares swoon as Beijing ramps up war of words
World share markets suffered a fresh bout of selling on Friday after tough words on trade from China, while bets on a new pro-Brexit leader in Britain sent the pound sliding to its worst week in well over a year.
Airlines face scramble to restore 737 MAX flights once regulators approve fix
Once global regulators clear Boeing Co’s 737 MAX to fly again after deadly crashes, airlines which have put their fleets into mechanical hibernation since March will scramble to begin the biggest ungrounding effort in history.
Exclusive: Kazakhstan to seek damages from Transneft for tainted oil loaded in Ust-Luga
Kazakh oil flowing via Russia to be loaded on tankers at the Baltic Sea port of Ust-Luga has been contaminated and Kazakhstan plans to seek compensation from Russian pipeline monopoly Transneft, a senior Kazakh energy official said.
Amazon squares up to Uber with backing for UK food app Deliveroo
Amazon has taken a stake in British online food delivery company Deliveroo, leading a $575 million fundraising to pit itself against Uber Eats in the global race to dominate the market for takeaway meals.
Starbucks’ China challenger Luckin raises $561 million in U.S. IPO
Luckin Coffee Inc, the Chinese challenger to Starbucks Corp, on Thursday priced its U.S. initial public offering at the top end of its targeted range and sold more shares than planned in the biggest U.S. float by a Chinese firm this year.
Chinese firms’ missing $6 billion tests regulators’ resolve
Cash is considered among the hardest assets for a company to fake, which is why the disappearance of a combined $6.1 billion from two Chinese companies has dumbfounded investors and forced regulators to take action.
China says always wants to resolve disputes through talks
China’s foreign ministry said on Friday Beijing has always wanted to resolve all disputes through talks amid an escalating trade conflict with the United States.
Nissan says Saikawa retained as CEO, putting focus on Renault ties
Nissan Motor Co said on Friday that Hiroto Saikawa would stay on as chief executive, backing the protege of former boss Carlos Ghosn even as top shareholder Renault pushed for a change in the Japanese automaker’s leadership.
Oil steady as Middle East tensions mounts, set for weekly gains
Oil prices were steady on Friday, giving up earlier gains, and were on track for the first weekly increases this month, as rising tensions in the Middle East stoked fears of supply disruptions.
Bitcoin sinks abruptly after seven weeks of recovery
The price of bitcoin abruptly sank more than 20% on Friday, a move that didn’t appear to have a particular trigger and came after a strong recovery in the crypto-currency since early April that took it to 10-month highs.
