Breaking business news for August 4, 2017

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Friday, August 4, 2017

Payrolls for starter, trade war for main?

LONDON (Reuters) - Stocks, gold and most metals headed for a fourth week of gains on Friday, as fresh political woes for U.S. President Donald Trump and the prospect of a trade war with China kept the dollar depressed ahead of U.S. payrolls figures.

Wall Street set to open higher after strong jobs data

(Reuters) - U.S. stock indexes looked set to open higher on Friday after data showed U.S. employers hired more workers than expected in July and also raised wages, signaling labor market tightness.

Exclusive: China regulators plan to crack down further on overseas deals

HONG KONG (Reuters) - China plans to further tighten the screws on overseas acquisitions by Chinese companies and borrowing to fund those transactions, and has started closely scrutinizing the commercial aspects of the deals, three people familiar with the move said.

Toyota and Mazda link up to build $1.6 billion U.S. plant, develop electric cars

TOKYO (Reuters) - Toyota Motor Corp and Mazda Motor Corp plan to build a $1.6 billion U.S. assembly plant, the two said on Friday, as part of an alliance that will also see the Japanese automakers jointly develop electric vehicle technologies.

Uber knowingly rented out faulty cars, WSJ says; firm says it's fixed the problem

SINGAPORE (Reuters) - Uber Technologies Inc knowingly rented its drivers defective cars at risk of catching fire, the Wall Street Journal reported on Friday, and the ride-hailing firm said it moved to fix the problem after one of the vehicles suffered a fire.

Global refiners brace themselves as China cements its oil market dominance

SINGAPORE/BEIJING (Reuters) - China is on pace to overtake the United States as the world's biggest oil importer this year, cementing its status as Asia's most pivotal oil market actor that will increasingly dominate the region's fuel trade.

ADP says Ackman's Pershing Square seeking control of company

(Reuters) - William Ackman's Pershing Square Capital Management is seeking effective control of Automatic Data Processing Inc by nominating five directors to its board, the HR services provider said in a statement on Friday.

Daimler defends use of German auto industry committees

FRANKFURT (Reuters) - German carmaker Daimler defended industry committees on Friday, as cartel authorities examine allegations of collusion between BMW , Mercedes, Porsche, Audi and Volkswagen .

Nothing cold about sub-zero rates, IMF researchers find

LONDON (Reuters) - Negative interest rates imposed by central banks have generally worked as a tool to boost inflation, pulling down yields and sometimes weakening currencies, International Monetary Fund research has concluded.

Toyota lifts profit outlook on weaker yen prospects

TOKYO (Reuters) - Toyota Motor Corp raised its full-year profit forecast by 16 percent on Friday, citing expectations of a weaker yen, after posting a smaller-than-expected drop in quarterly profit.

Breaking business news for August 4, 2017

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