U.S. says has addressed residual seasonality in GDP data
U.S. government statisticians say they have addressed a methodology problem, which analysts had argued tended to understate economic growth in the first quarter.
Dollar index trims gain after robust U.S. GDP data
The dollar pared its earlier gains against a basket of currencies on Friday as data showed the U.S. economy expanded at its fastest clip in nearly four years but they did not quell worries the pace of growth would slow due to tariffs.
China’s ZTE revises down first-quarter profit after factoring in U.S. supplier ban
ZTE Corp revised its first-quarter results to a net loss on Friday, after China’s second-biggest telecommunications equipment maker took into account the impact of a crippling U.S. supplier ban that has now been lifted.
Global stocks set for fourth week of gains as trade angst eases
Shares rose worldwide on Friday as strong company earnings reports and as transatlantic trade tensions eased after an agreement between the United States and Europe this week.
Twitter to prioritize fixing platform over user growth, shares plunge
Twitter Inc on Friday reported fewer monthly active users than analysts expected and warned the closely-watched figure could keep falling as it deletes phony accounts, sending shares tumbling.
Amazon lifts futures, GDP data awaited
U.S. stock index futures rose on Friday as Amazon’s robust earnings buoyed the flagging FAANG group of high-flying stocks and ahead of a potentially strong U.S. gross domestic product (GDP) data.
Merck profit beats on Keytruda strength, raises full-year forecast
Drugmaker Merck & Co on Friday raised its full-year profit forecast after beating Wall Street estimates for quarterly profit as sales of blockbuster cancer drug Keytruda nearly doubled.
Instagram not an instant fix for ailing Facebook
Revenue forecasts from Facebook Inc that alarmed investors, fueling the worst day ever for its shares on Thursday, add to the pressure on its Instagram unit to win over more of the ad buyers that have long found success on the company’s flagship app.
Mastercard reiterates FY expenses outlook
(This version of the July 26th story corrects to say company reiterated its full-year expense forecast, not raised the full-year expense forecast in headline and paragraphs 1, 2)
Exclusive: China eyes infrastructure boost to cushion growth as trade war escalates – sources
China plans to put more money into infrastructure projects and ease borrowing curbs on local governments to help soften the blow to the economy from the Sino-U.S. trade war, policy sources told Reuters.
