Oil prices edged lower on Friday, set to post their first weekly fall in five weeks, after U.S. inventory data showed lacklustre fuel demand in the world's largest oil consumer while worsening U.S.-China tensions weighed on global financial markets.
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OPEC oil output hit the lowest in two decades in May as Saudi Arabia and other members started to deliver a record supply cut, a Reuters survey found, although Nigeria and Iraq are laggards in making their share of the reduction.
China's foreign ministry said on Friday that Canada is an accomplice to the U.S. government's efforts to bring down Chinese tech giant Huawei and said Canada should immediate release Huawei executive Meng Wanzhou.
Wells Fargo & Co appointed Kevin Reen as chief risk officer (CRO) for its consumer lending arm and Bill Juliano to lead its operational risk management team as it revealed a new organizational structure to provide risk oversight.
Morgan Stanley's move is an an early test of whether the financial capital of the world can safely reopen amid the coronavirus pandemic.
Wall Street's main indexes fell on Friday as investors were on edge ahead of a U.S. response to China's national security law on Hong Kong that threatens to take the shine off another month of strong gains for the stock market.
When Yahaira Caraballo opened her nail salon in the Bronx, New York nearly seven years ago, it was a bare-bones shop with two nail technicians.
Global stock markets fell and safe havens such as bonds and the Japanese yen gained on Friday, as investors awaited Washington's response to China tightening control over the city of Hong Kong.
Rosneft does not have enough crude to ship to buyers with which it has long-term supply deals, making it hard for the Russian company to continue with record oil cuts beyond June, four sources familiar with the matter told Reuters on Thursday.
Volkswagen AG plans to boost its electric push in China, the world's biggest auto market, by pumping 2.1 billion euros in two Chinese electric vehicle players.
The S&P 500 and Dow Jones indexes opened lower on Friday as investors braced for a U.S. response to China's national security law on Hong Kong, threatening to take the shine off another month of strong gains for the stock market.
When a global pandemic crushes the stock market, try these strategies to strengthen your finances.
Renault acknowledged that its global ambitions had been unrealistic, announcing plans to cut about 15,000 jobs, shrink production and restructure French plants as it pressed the reset button and sought to banish the spectre of Carlos Ghosn.
U.S. consumers cut spending by the most on record for the second straight month in April while boosting savings to an all-time high, and the growing frugality reinforced expectations the economy could take years to recover from the COVID-19 pandemic.