U.S. job growth rebounded strongly in June, with government payrolls surging, but persistent moderate wage gains and mounting evidence the economy was losing momentum could still encourage the Federal Reserve to cut interest rates this month.
The head of Deutsche Bank's investment bank agreed to step down on Friday in a sign of the division's waning influence as Germany's largest lender prepares a multi-billion dollar restructuring aimed at reversing a decline in its fortunes.
U.S. economic growth continued "at a solid pace" in the first half of the year though it likely weakened in recent months as higher tariffs depressed global trade and business investment weakened, the Federal Reserve said on Friday in its semi-annual report to Congress.
Data released on Friday showed a return to strong job growth in the United States, allaying some fears the U.S. economy is on a short path to recession. But the data also reinforced the view that economic growth is slowing.
BMW board member Oliver Zipse, a 55 year-old company veteran, is the front runner to become the carmaker's new chief executive, sources said on Friday after Harald Krueger announced he would not stay on beyond April 2020.
U.S. stocks lost ground on Friday, retreating from record levels hit in the previous session, after strong U.S. job growth in June pushed investors to scale back bets on aggressive interest rate cuts by the Federal Reserve.
Brent oil prices edged up on Friday, supported by tensions over Iran and a decision by OPEC and its allies to extend an output supply cut deal until next year, while U.S. benchmark crude prices fell on weak economic indicators.
Ford and Volkswagen have reached an outline agreement to share electric and autonomous car technologies, extending their alliance beyond a cooperation on commercial vehicles, a source familiar with the matter said on Friday.
Brent oil ticked higher on Friday, supported by tensions over Iran and the decision by OPEC and its allies to extend a supply cut deal until next year, while U.S. benchmark crude prices fell on weak economic indicators.
The boom in initial public offerings this year has also been a boon for women chief executive officers.
The first batch of companies will start trading on the STAR Market on July 22, the Shanghai Stock Exchange said on Friday.
BMW's production chief Oliver Zipse is to become the next chief executive of the German carmaker after Harald Krueger's announcement that he was stepping down, the Frankfurter Allgemeine newspaper reported on Friday, citing people within the company as its source.
U.S. stock futures edged lower, on Friday, as investors awaited the monthly jobs data, which could offer clues on the Federal Reserve's move on interest rates.
In Argentina's remote northern province of Jujuy, Chinese telecoms giant ZTE is installing a little slice of the Asian nation's vast surveillance state - security cameras that the local government says will help to curb street crime.
Renault-Nissan has not decided whether to publish figures on cost savings and other synergies achieved by the alliance over the last year, as has been its custom, two sources close to Renault said, amid growing tension in the partnership.