Kraft Heinz $15 billion write-down puts focus on years of cost cuts, shares fall 28 percent
Kraft Heinz Co shares fell to their record low after the food giant announced a multi-billion dollar write-down on its marquee brands, raising concerns that years of rigorous cost cuts had eroded the value of its Kraft and Oscar Mayer products.
UBS ignored whistleblower warnings in French tax case: judgment
UBS was warned numerous times over a period of at least six years that its French private bank risked breaking local tax laws, according to the written judgment in a case where the Swiss bank faces a 4.5 billion euro ($5.10 billion) penalty.
U.S. judge will not block Amazon-Berkshire-JPMorgan health venture’s new hire
A federal judge on Friday declined to block a UnitedHealth Group Inc unit’s former executive from working at a new healthcare venture launched by Amazon.com Inc, Berkshire Hathaway Inc and JPMorgan Chase & Co.
Fed to keep open mind in review of strategy, tools, Clarida says
The Federal Reserve will keep an open mind as it begins a broad review this year of its monetary policy framework that could result in changes to how it goes about ensuring that prices remain stable and employment plentiful, Fed vice chair Richard Clar…
U.S.-China trade hopes lift stocks; oil at three-month high
Stocks rose in major markets on Friday on bets of progress in trade talks between the United States and China, while crude futures hit their highest in over three months, supported by ongoing supply cuts.
France holds out over start of EU trade talks with Trump
France expressed reservations on Friday about proposed trade negotiations with the United States, diplomats said, while other EU countries supported talks with Washington that could ward off punitive U.S. tariffs on European cars.
Oil hits three-month highs on U.S.-China trade hopes
Oil prices touched more than three-month highs on Friday, supported by rising hopes that the United States and China would soon reach a deal to end their trade war, but new record U.S. oil production limited gains.
Tech stocks lift Wall Street amid trade hopes
U.S. stocks rose on Friday as technology shares were boosted by signs of progress in the ongoing trade talks between the United States and China.
U.S., China resume talks on thorniest issues in trade war
Top U.S. and Chinese trade negotiators met on Friday to wrap up a week of talks that have seen the two sides struggle to detail how to bridge deep differences on China’s role in global commerce.
British fraud office abandons Rolls-Royce, GSK investigations
The UK’s Serious Fraud Office (SFO) has abandoned two of its largest and longest investigations, into alleged bribery at aero engine maker Rolls-Royce and drugs maker GlaxoSmithKline, in a move described by one lawyer as “extraordinary”.
