Volatile trade, inventories boost U.S. growth to 3.2 percent in first quarter
U.S. economic growth accelerated in the first quarter, but the burst in growth was driven by trade and the largest accumulation of unsold goods since 2015, temporary factors that are likely to reverse in the coming quarters.
Britain must get to bottom of Huawei leak: UK finance minister
Britain must get to the bottom of the leak of confidential discussions during a top-level security meeting about the role of China’s Huawei Technologies in 5G network supply chains, British finance minister Philip Hammond said on Friday.
Dollar off two-year highs ahead of U.S. GDP, shares subdued
The dollar slipped from 23-month highs on Friday ahead of keenly awaited U.S. gross domestic product data for the first quarter, while global shares were on track for a fifth successive weekly gain despite subdued trade.
Uber sets $44-$50 per share price for IPO, posts $1 billion first-quarter loss
Ride-hailing company Uber Technologies Inc unveiled terms for its initial public offering on Friday, telling investors it would seek to sell as much as $10.35 billion in stock at a valuation of up to $91.5 billion.
Newer drugs fuel AstraZeneca quarterly sales beat
AstraZeneca Plc beat first-quarter sales and earnings expectations on Friday as the British drugmaker benefited from a push into cancer drugs and emerging markets including China.
‘Bonanza time’: Foreign carriers savor rising India demand as Jet Airways crumbles
The grounding of India’s Jet Airways is turning into a quick windfall and long-term opportunity for international airlines keen to scoop up nearly a million outbound passengers from what was once the nation’s biggest airline.
Britain calls China’s Belt and Road Initiative a ‘vision’
Britain is committed to help realize the potential of China’s Belt and Road Initiative (BRI), British finance minister Philip Hammond said on Friday, describing the policy as a “vision”.
Europe wants to sign Belt and Road MOU as a group: German minister
Major European Union countries want to sign a memorandum of understanding on China’s Belt and Road initiative as a group and not as individual states, German Economy Minister Peter Altmaier said on Friday.
Dollar dips ahead of U.S. GDP print, shares subdued
The dollar retreated from 23-month highs on Friday ahead of keenly awaited U.S. gross domestic product data for the first quarter, while global shares were on track for a fifth weekly gain in a row despite subdued trade.
Ad group WPP hit by client losses in North America
The world’s biggest advertising company WPP suffered a sharp drop in first-quarter underlying sales in North America as the loss of work from clients such as Ford took a toll on its most important market.
