Asian shares were heading for weekly losses on Friday as conflicting messages on the Sino-U.S. trade war only added to worries for the global economy, while talk of aggressive central bank stimulus drove bond yields to fresh lows.
General Electric Co shares fell as much as 15% on Thursday after fraud investigator Harry Markopolos, who blew the whistle on Bernard Madoff's Ponzi scheme, said GE was concealing deep financial problems, prompting a sharp rebuke from GE's new CEO.
Cosmetics maker Revlon Inc has tapped Goldman Sachs Group Inc to explore options for its business, Bloomberg reported on Thursday, citing people familiar with the matter.
American Airlines Group Inc and Southwest Airlines Co are bumping thousands of passengers off airplanes after their Boeing 737 MAX fleet's was grounded in mid-March following two fatal crashes.
The U.S. Commodity Futures Trading Commission (CFTC) said on Thursday Kraft Heinz Co and Mondelez International Inc will have to pay $16 million in penalty regarding a wheat manipulation case that dates back to 2015.
Canopy Growth Corp said on Thursday it expects another three to five years to turn in a profit as Canada's largest cannabis company invests heavily to diversify and expand.
General Electric Co Chief Executive Larry Culp said on Thursday that a report alleging GE was hiding financial problems was "market manipulation – pure and simple."
The World Trade Organization (WTO) on Thursday adopted final findings against U.S. duties imposed on a range of Chinese imports, effectively giving Beijing a green light to seek compensatory sanctions.
Asian shares found some footing on Friday after a turbulent week as China hinted at more support for its economy, amid growing expectations of aggressive stimulus from all the major central banks.
U.S. retail sales surged in July as consumers bought a range of goods even as they cut back on motor vehicle purchases, helping to assuage financial market fears that the economy was heading into recession.
General Electric shares fell as much as 15% on Thursday after fraud investigator Harry Markopolos, who blew the whistle on Bernard Madoff's Ponzi scheme, said GE was concealing deep financial problems.
GE says the allegations of fraud are "entirely false and misleading."
Whistleblower Harry Markopolos released a new report about General Electric, saying the company is using some of the same accounting tricks as Enron.
Facebook users suing the world's largest social media network over a 2018 data breach say it failed to warn them about risks tied to its single sign-on tool, even though it protected its employees, a court filing on Thursday showed.
The dollar recovered from early weakness but a gauge of global equity performance edged lower on Thursday as concerns about global growth offset investor optimism over a surge in U.S. retail sales last month and strong Walmart earnings.