Wall St. set to dip on slowing job growth, U.S.-China tensions

(Reuters) – The S&P 500 was set to pull back from near six-month highs on Friday as data showed a sharp slowdown in U.S. employment growth and President Donald Trump cranked up friction with Beijing with moves to ban WeChat and TikTok. The Labor Department’s closely watched report showed nonfarm payrolls increased by 1.76 million in July. While that was […]

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Sino-U.S. tensions hit futures ahead of jobs report

(Reuters) – U.S. stock index futures fell on Friday as President Donald Trump’s moves to ban WeChat and TikTok intensified tensions with Beijing, while investors also braced for data likely to show a sharp slowdown in jobs growth in July. Underlining the disconnect between U.S. economic health and a stimulus-led rally on Wall Street, the Nasdaq closed on Thursday above […]

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California judge weighs Uber, Lyft driver classifications

(Reuters) – California and three of its largest cities urged a state judge on Thursday to issue a preliminary injunction requiring Uber Technologies Inc and Lyft Inc to classify their drivers as employees rather than as contractors. The argument was made at a hearing in San Francisco Superior Court in a May 5 lawsuit accusing Uber and Lyft of violating […]

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Coronavirus: ITV profits plunge as COVID-19 hammers income

ITV saw its profits almost wiped out after the coronavirus pandemic hammered its main sources of income. However, the broadcaster’s boss Dame Carolyn McCall said her company was now seeing an “upward trajectory”, with productions restarting and advertisers returning. The company expects to pour around £960m into its programming this year. But despite many people being sat at home during […]

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Boeing does not see immediate need to raise cash with new debt

SEATTLE (Reuters) – Boeing Co (BA.N) does not see the need to add to liquidity through additional debt offerings to manage the downturn in global aviation caused by the COVID-19 pandemic, chief financial officer Greg Smith said on Wednesday. Smith also told a conference that “priority one” for Boeing would be paying down its debt and getting its balance sheet […]

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Blackstone to acquire Ancestry.com for $4.7 billion

(Reuters) – Blackstone Group Inc (BX.N) said on Wednesday it agreed to acquire genealogy provider Ancestry.com Inc from private equity rivals for $4.7 billion, including debt, placing a big bet on family-tree chasing as well as personalized medicine. Ancestry.com is the world’s largest provider of DNA services, allowing customers to trace their genealogy and identify genetic health risks with tests […]

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Wendy's points to sales recovery after COVID-19 hit

(Reuters) – Wendy’s Co (WEN.O) saw a recovery in sales in June and July as lockdown restrictions eased in some parts of the United States, after the burger chain narrowly beat market estimates for profit on Wednesday, following the launch of its breakfast menu. The company said its breakfast menu had a strong second quarter at a time when other […]

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S&P 500, Dow drift higher as investors eye stimulus

(Reuters) – The S&P 500 and Dow crept higher on Tuesday as investors held out for more U.S. government stimulus, but strained Sino-U.S. relations over TikTok and disappointing quarterly earnings from Ralph Lauren and AIG curbed gains. Ralph Lauren Corp (RL.N) slumped 6.5% to its lowest since mid-May after quarterly revenue plunged by nearly $1 billion due to coronavirus-led store […]

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