China and the United States have agreed on the text of a phase one trade deal, and Beijing has decided to cancel an earlier plan to impose additional tariffs on U.S. imports on Dec. 15, senior Chinese government officials said on Friday.
Wall Street fell in volatile trading on Friday, as investors remained confused about signs of progress on a U.S.-China trade deal despite comments from both sides that they had arrived at an initial agreement.
Shares of Power Financial Corp (PFC) rose nearly 10% on Friday, their biggest jump in more than a decade, after parent Power Corp of Canada (PCC) agreed to buy the rest of the stake it does not currently own.
Equity markets globally rose and oil prices surged on Friday after China and the United States agreed on a "phase one" trade deal and U.S. President Donald Trump said Washington would suspend tariffs on Chinese imports scheduled for Sunday.
The U.S. Attorney leading the investigation of corruption within the United Auto Workers (UAW) told Reuters on Friday the union's leadership still is not fully cooperating with the government, but that individuals are giving federal investigators tips that could expand the probe.
The United States agreed to modify its tariffs on Chinese goods in a "significant way" under a phase one trade agreement with Beijing, while China would buy substantially more U.S. goods and services, the U.S. Trade Representative's office said on Friday.
Shares of OneConnect Financial Technology jumped 5% in their U.S. market debut on Friday, valuing the Chinese cloud tech firm at $3.79 billion.
Uber submitted an appeal on Friday against a decision by London's transport regulator to strip the taxi app of its right to operate in one its most important markets, setting up a potentially lengthy legal process during which it can continue to take rides.
The United States and China cooled their trade war on Friday, announcing a "Phase one" agreement that reduces some U.S. tariffs in exchange for increased Chinese purchases of American farm goods.
China has agreed to buy $32 billion of additional U.S. farm products over two years as part of a phase one trade pact, U.S. Trade Representative Robert Lighthizer told reporters on Friday, adding the deal would be signed the first week of January.
U.S. stocks gained ground in early afternoon trading on Friday after a tumultuous morning, as a limited trade deal between the United States and China paved the way for a rise in technology shares.
U.S. retail sales increased less than expected in November as Americans cut back on discretionary spending despite a strong labor market, raising fears the economy was slowing a bit faster than anticipated in the fourth quarter.
Insurers of Philadelphia Energy Solutions (PES) have indicated they will make a second payment of $15 million from its property policy in connection to the June fire and subsequent shutdown of the plant, court documents showed.
Boeing Co has decided it will not compete as a prime contractor to replace the Pentagon's aging U.S.-based Minuteman III missile system, paving the way for Northrop Grumman Corp to win a contract worth tens of billions of dollars.
The S&P 500 and the Dow industrials were little changed on Friday after hitting record highs earlier in the session, as the United States and China announced an initial trade agreement, cooling tensions that have rattled markets.