U.S. President Donald Trump on Friday said he was in no hurry to sign a trade deal with China as Washington imposed a new set of tariffs on Chinese goods and negotiators ended two days of talks to try to salvage an agreement.
Business Roundtable, a group of U.S. corporate chief executive officers, said on Friday it was concerned that rising U.S.-China tariffs will hurt the American economy.
President Donald Trump said on Friday that trade talks between the United States and China would continue into the future and U.S. tariffs may or may not be removed, depending on the outcome of the negotiations.
The S&P 500 erased early losses to edge higher on Friday after U.S. Treasury Secretary Steven Mnuchin said trade talks between the United States and China were "constructive," but the index remained on track for its biggest weekly percentage loss since December.
A week of worsening fears on Wall Street leading up to Washington's increase on tariffs on Chinese goods has taken a toll on stocks that rely heavily on global trade.
A federal judge on Friday sharply questioned the U.S. Securities and Exchange Commission on the timing of its civil suit filed in March accusing Volkswagen AG of defrauding investors and demanded the agency explain its rationale.
Stock valuations have climbed to levels reached just before Wall Street's late 2018 plunge, leaving the market at risk of shocks such as the sell-off this week as global trade tensions mounted.
A South Korean court said on Saturday it had approved warrants to arrest two senior officials at Samsung Electronics in relation to an alleged accounting fraud at the tech giant's biopharma affiliate.
Uber Technologies Inc's shares made a disappointing market debut on Friday, marking a rocky start for the most anticipated initial public offering of the year as other high-profile startups such as Slack and WeWork look to go public.
Occidental Petroleum Chief Executive Vicki Hollub on Friday touted her $38 billion deal for Anadarko Petroleum Corp and defended the pricey terms she negotiated in a 90-minute session with billionaire investor Warren Buffett to secure the deal without seeking shareholder approval.
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