International News
Europe close: Investors sit on their hands ahead of French elections
European stocks finished on a mixed note on Friday with the CAC 40 slipping after the Paris shooting fuelled uncertainty about the French presidential election, although it was Italian stocks that did worst.
Judge approves $4.3bn penalty for VW diesel engine emissions scandal
Volkswagen has been hit with a $4. 3bn penalty for misleading US regulators and customers about its diesel engines’ emissions after a US federal judge approved the criminal charge.
UK steel firms cautious ahead of Trump export investigation
Steelmakers in Britain are on alert as Donald Trump launches an investigation into steel dumping in the US and suggested new tariffs will be levied on imports.
US open: Stocks little changed as investors mull French election, Mnuchin comments
US stocks were little changed on Friday as concerns about the French presidential election weighed on investors, while they also digested comments from Treasury Secretary Steven Mnuchin that the Trump administration is close to bringing forward major tax reform.
General Electric beats on earnings but sees negative cash flow in Q1
US industrial giant General Electric beat on its top and bottom lines in the first quarter, but reported negative cash flow in industrial operating activities.
Analysts differ on forecasts for China's FX reserves
Capital outflows from China slowed significantly over the past two months, Capital Economics estimated, telling clients that the country's fight against them might be nearly over, but Oxford Economics disagreed.
US existing home sales hit 10-year high in March
Sales of US existing home sales rose more than expected in March, to their highest pace in more than 10 years, according to data from the National Association of Realtors.
US factory and service output levels at seven-month lows in April
The US economy softened at the start of the year, with levels of output in both the manufacturing and services sectors dipping to seven-month lows, the results of a survey showed, but economists believed there were good reasons to expect a rebound going forward.
Paris attacker kills policeman, injures two others, IS claims responsibility
An attack against a bus carrying French policemen claimed one victim and left two other officers injured just two days before the hotly-contested first round of the French presidential elections.
Tesla recalls 53,000 vehicles over brake problems
US carmaker Tesla Motors has recalled 53,000 of its Model S and Model X vehicles after it found issues related to the cars’ braking systems.
Asia report: Markets rally after Wall Street surge
Markets in Asia finished higher on Friday, taking their cues from a strong finish on Wall Street overnight and ahead of the first round of the French presidential elections at the weekend, amid a suspected terrorist shooting in Paris.
Le Pen or Melenchon election victory would trigger a correction, Citi says
The most likely outcome of the French elections was a victory for either the centrist or centre-right candidates, Emmanuele Macron and Francois Fillon, strategists at Citi said.
US pre-open: Stocks seen touch higher amid tax reform hopes
US futures suggested a fairly muted open on Wall Street on Friday, although some gains were expected following solid earnings in the previous session and after Treasury Secretary Steven Mnuchin said Trump’s administration was close to bringing forward major tax reform.
Barclays believes worst of iron ore price slide over, positive on mining
Analysts at Barclays sounded a positive note on the EU mining sector, flagging the potential for large cash returns from Glencore, S32 and Rio Tinto over the medium-term.
Eurozone business activity hits six-year high in April
Business activity in the eurozone hit a six-year high in April, according to preliminary data released on Friday.
US close: American Express lifts Dow as sector earnings continue to impress
Wall Street marched higher on Thursday as American Express earnings highlighted consumer spending strength, while a combination of strong financial sector earnings and a oil prices in the previous session.