U.S. consumer spending increased more than expected in July, boosting expectations for a sharp rebound in economic growth in the third quarter, though momentum is likely to ebb as the COVID-19 pandemic lingers and money from the government runs out.
A host of companies have filed for U.S. initial public offerings (IPOs) this week in the busiest period in recent history, as businesses rush to take advantage of ample investor appetite for new stocks.
Silicon Valley entrepreneur Elon Musk's net worth topped US$100 billion on Friday, according to the Forbes real-time billionaires list, as the shares of electric-car maker Tesla Inc see a more than five-fold surge in value this year.
Wall Street was swift to see the rationale behind Walmart Inc jumping into the fray to buy TikTok - access to millions of young, digitally savvy users who could help the 60-year-old company boost its online sales.
Norwegian-born billionaire John Fredriksen appointed a hedge fund manager on Friday as next head of his family's key holding company, which controls assets ranging from oil tankers and rigs to real estate, fish farming and finance.
Shares of Apple Inc and Tesla Inc will be less costly on Monday as pre-announced stock splits take effect, in theory making them more accessible to retail investors, but as more brokers offer fractional shares, some in the market question the need.
Herbalife Nutrition Ltd has entered a deferred prosecution agreement to settle U.S. government charges it provided corrupt payments and benefits to Chinese officials, including in government agencies and media outlets, to boost its business in China, a federal prosecutor said on Friday.
Boeing Co is seeking to increase Black U.S. employees throughout the company by 20per cent and mandate benchmarks for hiring people of color, Chief Executive Dave Calhoun told employees in a memo on Friday reviewed by Reuters.
Targeting higher inflation, as the Federal Reserve suggested it would do in a revamp of its monetary policy strategy on Thursday, could end up slowing growth instead of boosting it unless the U.S. central bank's message to households and businesses is carefully crafted and conveyed.
Yum China Holdings Inc filed an application for a secondary listing in Hong Kong on Friday, a rising trend among some Chinese firms to list closer to home in a bid to mitigate risks from escalating U.S.-China tensions.
