Reuters

U.S. retail sales endured a second straight month of record declines in April as the novel coronavirus pandemic kept Americans at home, putting the economy on track for its biggest contraction in the second quarter since the Great Depression.

World stocks edged up on Friday and oil prices rallied more than 2%, lifting sentiment after a week pressured by deteriorating U.S.-China relations.

Taiwan Semiconductor Manufacturing Co Ltd , the biggest contract chipmaker, said it plans to build a $12 billion factory in Arizona in an apparent win for the Trump administration's efforts to wrestle global tech supply chains back from China.

Nissan Motor Co expects equal contributions to global car sales from China, the United States and elsewhere in coming years as the struggling Japanese carmaker strategises to recover profitability, two people with knowledge of the issue said.

U.S. stock index futures slipped on Friday after the Trump administration moved to block shipments of semiconductors to China's Huawei Technologies from global chipmakers, a move that could ramp up trade tensions between Washington and Beijing.

U.S. retail sales likely endured a second straight month of record declines in April as the novel coronavirus pandemic kept Americans at home, putting the economy on track for its biggest contraction in the second quarter since the Great Depression.

The Trump administration on Friday moved to block shipments of semiconductors to Huawei Technologies from global chipmakers, in an action that could ramp up tensions with China.

Worker welfare is having a moment on Wall Street.

U.S. President Donald Trump signaled a further deterioration of his relationship with China over the coronavirus outbreak, saying he has no interest in speaking to President Xi Jinping right now and going so far as to suggest he could even cut ties with the world's second largest economy.

World stocks edged higher on Friday and oil prices rallied more than 2%, as sentiment revived after a week pressured by deteriorating U.S.-China relations.

Chipmaker Taiwan Semiconductor Manufacturing Co's $12 billion investment in the United States will increase U.S. economic independence from China, Secretary of State Mike Pompeo said in a statement early on Friday.

The U.S. Department of Commerce on Friday announced that it was extending the Temporary General License that allows certain transactions with Huawei Technologies Co Ltd for another 90 days.

U.S. stock index futures rose on Friday as better-than-expected industrial data from China raised hopes of an eventual economic recovery from coronavirus-related lockdowns.

Ryanair has cut more than 250 staff in offices in Dublin, London, Madrid and Wroclaw, Poland, Europe's largest low-cost airline said on Friday.

Texas-based CRE8AD8 LLC bid for a federal government contract to quickly rescue food from struggling farmers and deliver it to U.S. food banks as fallout from the coronavirus pandemic has put millions of Americans out of work and driven many to seek help putting food on the table.

Cathay Pacific Airways Ltd said on Friday it made an unaudited loss of HK$4.5 billion ($580.53 million) at its full-service airlines during January-April and flagged a "very bleak" outlook as the coronavirus crisis grounded planes globally.

Cooperation between Fincantieri and Thyssenkrupp to build submarines is a good opportunity to talk about future consolidation in the European defence sector, the Italian shipbuilder's general manager Alberto Maestrini said on Friday.

France's Accor , which runs hotels such as Ibis and Movenpick, said on Friday it would offer its clients free access to online medical consultations run by insurer AXA as it prepares for a recovery from the coronavirus crisis.

Sweden's central bank will engage BlackRock’s Financial Markets Advisory for analysis work on the Swedish corporate bonds market, it said in a statement on Friday.

World stocks rose on Friday and oil prices jumped more than 3%, taking the sting out of a week that has seen sentiment hit as deteriorating U.S.-China relations added to worries over how fast economies could recover from the coronavirus shock.