Hopes for trade breakthrough fade as China cancels U.S. farm visits

Latest Business News - 10 hours 11 min ago
A U.S.-China trade deal appeared elusive on Friday after Chinese officials unexpectedly cancelled a visit to farms in Montana and Nebraska as deputy trade negotiators wrapped up two days of negotiations in Washington.

China, U.S. had 'constructive' trade talks in Washington: Xinhua

Latest Business News - 10 hours 42 min ago
China and the United States had "constructive" discussions on trade in Washington, state news agency Xinhua said on Saturday.

Wall Street drops after China cancels trip to Montana farmland

Latest Business News - 11 hours 23 min ago
Wall Street dropped on Friday, and also finished the week lower, after a Chinese agriculture delegation cancelled a planned visit to Montana, dampening optimism about U.S.-China trade talks.

Delaware judge says Tesla board must face trial over Musk's mega-pay package

Latest Business News - 11 hours 36 min ago
A Delaware judge ruled on Friday that Tesla Inc's board of directors must defend at a trial Chief Executive Elon Musk's multibillion dollar pay package, which a shareholder lawsuit said unjustly enriched the head of the electric vehicle company.

U.S. trade regulators approve some Apple tariff exemptions amid broader reprieve

Latest Business News - 11 hours 55 min ago
U.S. trade regulators on Friday approved 10 out of 15 requests for tariff exemptions filed by Apple Inc amid a broader reprieve on levies on computer parts, according to a public docket published by the U.S. Trade Representative and a Federal Register notice.

Exclusive: Palantir to seek at least $26 bln valuation in fundraising - sources

Latest Business News - 14 hours 48 min ago
Palantir Technologies Inc is targeting a valuation of at least $26 billion in a private fundraising round, the first for the Peter Thiel-backed data analytics start-up in four years, people familiar with the matter said on Friday.

Global Markets: Stocks fall as China cancels U.S. farm visits, yields dip

Latest Business News - 14 hours 55 min ago
An index of global stock markets surrendered early gains on Friday after Chinese agriculture officials who were to visit U.S. farm states next week cancelled their trip, dampening optimism on U.S.-China trade talks.

Fed in three voices: recession, bubbles, and 'in a good place'

Latest Business News - 15 hours 2 min ago
After delivering a split-decision rate cut earlier this week, U.S. Federal Reserve officials put their divisions on full display Friday, with warnings of a slowdown on the one hand and financial risks on the other bookending talk of how well things are going.

Aramco reps describe missiles and fires as facilities were attacked

Latest Business News - 15 hours 6 min ago
When 18 drones slammed into the world's biggest oil processing facility in Saudi Arabia last Saturday, the roughly hundred workers on weekend night shift leapt into action to confront the blazes that had erupted.

Oil slips on trade fears but soars in week after Saudi production attacked

Latest Business News - 15 hours 9 min ago
Oil prices eased on Friday on renewed concern over the U.S.-China trade war, but futures still posted weekly gains, with Brent marking its biggest weekly increase since January, after an attack on Saudi Arabia's energy industry last weekend.

Fed's Rosengren flags risks to economy in WeWork-style model

Latest Business News - 15 hours 40 min ago
The rise in co-working spaces, like those offered by WeWork, may be a source of financial instability that could make the next U.S. recession worse by sparking a run on commercial real estate, Boston Federal Reserve Bank President Eric Rosengren said on Friday.

Exclusive: Fitbit considers whether it should explore a sale - sources

Latest Business News - 15 hours 58 min ago
Wearable device maker Fitbit Inc has been in talks with an investment bank about the possibility of exploring a sale amid challenges in successfully pivoting from fitness trackers to smartwatches, people familiar with the matter said on Friday.

Walmart to stop sales of e-cigarettes in U.S. stores: company memo

Latest Business News - 16 hours 12 min ago
Walmart Inc told staff on Friday it will stop selling e-cigarettes and electronic nicotine delivery products at its U.S. stores, amid a growing crackdown on surging teenage use of such products, reports of vaping-related lung disease and some deaths.

Commerzbank aims to cut jobs, branches after Deutsche merger fails

Latest Business News - 17 hours 2 min ago
Commerzbank said on Friday it wanted to shed thousands of staff and close a fifth of its branches in a strategy overhaul, after the German lender's attempt to merge with Deutsche Bank failed.

Media visit Saudi oil plant damaged in strike blamed on Iran

Latest Business News - Fri, 09/20/2019 - 23:55
Saudi Arabia on Friday took media on a tour of oil facilities damaged by attacks that Washington and Riyadh blame on Iran, showing melted pipes and burnt equipment, as Tehran vowed wide retaliation if heightened tensions boil over into hostilities.

Deficit-stricken palladium soars in record run; gold eyes weekly gain

Latest Business News - Fri, 09/20/2019 - 23:51
Palladium soared to an all-time high on Friday, with producers locking in stocks of the auto-catalyst metal squeezed by a sustained supply shortage, while gold firmed en route to its first weekly gain in four supported by Middle East tensions.

Juventus aim to raise 300 million euros via capital hike

Latest Business News - Fri, 09/20/2019 - 23:46
Italian soccer club Juventus aim to raise up to 300 million euros through a capital increase after posting a 39.9 million euro loss in the financial year ended in June, the club said on Friday.

Amid crippling sanctions, Cuba deploys oxen, wood-fired ovens to overcome fuel crisis

Latest Business News - Fri, 09/20/2019 - 23:27
Cuba is deploying oxen to replace tractors, using wood instead of gas at many state bakeries and advising citizens to save electricity by making the most of daylight as it grapples with an acute fuel shortage amid U.S. sanctions.

U.S. dollar to be main currency underpinning Facebook's Libra: Spiegel

Latest Business News - Fri, 09/20/2019 - 23:20
The U.S. dollar will make up 50% of the basket of currencies backing Facebook's planned digital coin Libra, with the euro, yen, sterling and Singapore dollar comprising the rest, Der Spiegel reported, referring to a letter from Facebook.

Drug and medical suppliers say Brexit freight plans needed urgently

Latest Business News - Fri, 09/20/2019 - 23:14
Makers and suppliers of life-saving drugs and medical devices say they have still not been told by British authorities how their goods will be handled if the UK leaves the European Union without a deal at the end of October.