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The United States and China have reached consensus after talks between their main trade negotiators on Friday, Beijing's state-media Xinhua News Agency reported.

Oil prices rose nearly 3% on Friday on signs of progress in U.S.-China trade talks and stronger-than-expected economic data in both countries, including U.S. employment and Chinese manufacturing activity numbers.

Dallas Federal Reserve Bank President Robert Kaplan said on Friday he went along with the U.S. central bank's rate cut this week contingent on the Fed signaling that no further decreases to borrowing costs were likely, barring a material change in the economic outlook.

Alphabet Inc-owned Google will buy Fitbit Inc for $2.1 billion, as the biggest Web search company looks to take on Apple and Samsung in the crowded market for fitness trackers and smart watches.

Oil prices rose 2% on Friday on signs of progress in U.S.-China trade talks and stronger-than-expected economic data in both countries, including U.S. employment and Chinese manufacturing activity numbers.

A White House official said on Friday no discussions have taken place about ousting U.S. Federal Reserve Chairman Jerome Powell after President Donald Trump expressed disappointment in him and criticized the central bank's latest interest rate cut.

U.S. job growth slowed less than expected in October as the drag from a strike at General Motors was offset by gains elsewhere and hiring in the prior two months was stronger than previously estimated, offering some assurance that consumers would continue to support the slowing economy.

AbbVie Inc on Friday forecast 2019 revenue above Wall Street estimates and expressed confidence in future sales of blockbuster wrinkle treatment Botox, which it will acquire with its $63 billion purchase of Allergan Plc .

Royal Dutch Shell has appointed Huibert Vigeveno to head its downstream business, the refining, trading and marketing operations that are to become a key pillar for the oil and gas company as it transitions to cleaner energy.

World equity markets surged and crude prices rose on Friday after a stronger-than-expected U.S. employment report, a surprise bounce in Chinese manufacturing and optimism over U.S.-China trade talks tamped down fears of slowing global growth.

American International Group Inc missed analysts' estimates for third-quarter profit on Friday due to weakness in the insurer's life and retirement unit and a difficult period for catastrophe losses.

By Greg Roumeliotis, Yingzhi Yang, Echo Wang and Alexandra Alper

A World Trade Organization (WTO) panel said on Friday that China could slap compensatory sanctions on U.S. imports worth $3.579 billion annually for the U.S. failure to remove anti-dumping duties, a figure that was roughly half what China had sought.

Unions representing flight attendants at the three U.S. airlines that operate Boeing Co's 737 MAX said they are more reluctant to support the grounded jet's return after congressional hearings this week on its development.

China's Fosun Tourism Group said on Friday it would acquire the Thomas Cook and related hotel brands for 11 million pounds ($14.25 million), in a bid to expand its presence in the tourism business.