Gap shares tumble as flagship brand shows no sign of recovery
Shares of Gap Inc fell 8 pct in premarket trading on Friday, a day after the company’s namesake brand posted another bigger-than-expected drop in comparable sales, raising concerns around the unit’s turnaround plan.
Wall St. set for higher open with Powell speech in focus
U.S. stock index futures pointed to a higher open on Friday, as investors awaited a speech from Federal Reserve Chair Jerome Powell for clues on the direction of monetary policy.
Enbridge to buy Spectra Energy for $3.3 billion
Enbridge Inc, Canada’s largest pipeline operator, said on Friday it would buy its U.S. master limited partnership Spectra Energy Partners for a sweetened deal of $3.3 billion.
UniCredit, SocGen decline to comment on tie-up report
UniCredit and Societe Generale declined to comment on a report that Italy’s biggest bank was working with a senior Rothschild banker to advise it on a possible merger with the French lender.
Stock futures higher, Powell speech in focus
U.S. stock index futures rose on Friday, as investors awaited a speech from Federal Reserve Chair Jerome Powell for clues on the direction of monetary policy.
Enbridge to buy Spectra Energy Partners for $3.3 billion
Enbridge Inc , Canada’s largest pipeline operator, said on Friday it would buy its U.S. master limited partnership Spectra Energy Partners for a sweetened $3.3 billion deal.
Dollar dips, global stocks inch up ahead of Powell speech
The dollar dipped on Friday, set for its biggest weekly decline since March as markets braced for a speech by Federal Reserve chair Jerome Powell for hints on the direction of monetary policy, while a gauge of global stocks inched higher.
Shelved Aramco IPO hits at heart of Saudi prince’s reforms
Saudi Arabia’s decision to shelve what was billed as the biggest share sale ever is a major blow to the credibility of Crown Prince Mohammed bin Salman but there are other ways to finance reforms to strengthen the economy, bankers and investors say.
Four Toyota group firms to form JV for self-driving tech: Nikkei
Four Toyota Motor Corp group firms will form a joint venture to combine their self-driving technologies to better compete with automotive component giants such as Bosch Group [ROBG.UL], the Nikkei business daily reported on Friday.
Siemens denies report it may cut 20,000 jobs
German engineering giant Siemens said a report by monthly Manager Magazin that it could cut 20,000 jobs as part of its Vision 2020+ strategy was “completely unfounded”.
