Energy, financials push Wall Street higher; tech weighs
(Reuters) – Energy and bank stocks led the S&P and Dow higher on Friday, though a decline in technology shares capped gains and pushed the Nasdaq slightly lower.
U.S. Supreme Court backs Schlumberger on overseas patent damages
WASHINGTON (Reuters) – The U.S. Supreme Court ruled on Friday that companies can recover profits lost because of the unauthorized use of their patented technology abroad in a victory for Schlumberger NV, the world’s largest oilfield services provider.
OPEC agrees modest hike in oil supply after Iran softens stance
VIENNA (Reuters) – OPEC agreed on Friday on a modest increase in oil production from July after its leader Saudi Arabia persuaded arch-rival Iran to cooperate amid calls from major consumers to help reduce the price of crude and avoid a supply shortage…
‘Zero’ chance of Renault taking over Nissan, Mitsubishi: Ghosn
TOKYO (Reuters) – Renault SA absorbing Nissan Motor Co. and Mitsubishi Motors Corp is not an option as the carmakers look to strengthen their partnership while retaining their autonomy, alliance chairman Carlos Ghosn said on Friday.
Former WPP boss Sorrell denies prostitute allegation
CANNES, France (Reuters) – Former WPP boss Martin Sorrell denied on Friday that he had visited a prostitute and paid using company money when pressed on a stage in front of hundreds of people about why he had left the advertising giant he founded.
Trade tremors set stocks up for worst week in three months
LONDON (Reuters) – World shares rose on Friday but were set to end in the red for a second week running amid intensifying worries over the fallout of a trade dispute resulting from U.S. tariffs, while oil prices rose with an OPEC meeting underway.
Walmart-Advent deal gets Brazil antitrust nod
SAO PAULO (Reuters) – Brazil’s antitrust watchdog Cade on Friday approved buyout firm Advent International’s acquisition of Walmart Inc’s Brazilian operations, and sought no additional asset sales.
Satellite operator Echostar unveils stake in bid target Inmarsat
LONDON (Reuters) – Shares in British satellite operator Inmarsat leapt on Friday after its U.S. suitor EchoStar disclosed stakes in the London-listed company’s equity and debt.
Former WPP boss Sorrell denies visiting a prostitute
CANNES, France (Reuters) – Former WPP boss Martin Sorrell denied on Friday that he had visited a prostitute and paid using company money when asked on a stage in front of hundreds of people about why he had left the ad giant.
Satellite operator Echostar builds stake in bid target Inmarsat
LONDON (Reuters) – U.S. satellite operator Echostar has built a near 3 percent stake in Inmarsat , the British company that it is seeking to buy, stock exchange filings showed on Friday.
