Reuters Business News

Oil prices soared on Friday, with U.S. futures closing out May with record monthly gains, on hopes that the U.S.-China trade deal would remain intact and on falling crude production.

Global stocks fell while bonds and the euro climbed on Friday as investors turned cautious over China's national security law on Hong Kong, but U.S. stocks pared earlier losses after President Trump did not announce any new retaliatory tariffs.

The S&P 500 was up in late, choppy trading Friday after President Donald Trump made comments on China that appeared less worrisome for the U.S. economy than investors apparently had feared.

The S&P 500 was slightly higher on Friday in choppy action as investors absorbed U.S. President Donald Trump's comments on China.

Chinese internet giant Tencent Holdings Ltd is in talks to invest $200 million in Warner Music Group, ahead of the record company's slated initial public offering next week, the Wall Street Journal reported https://www.wsj.com/articles/tencent-in-talks-to-buy-warner-music-stake-11590774885 on Friday.

Morgan Stanley is planning to start getting some traders to return to its New York headquarters in mid- to late-June, CNBC reported on Friday, citing people with knowledge of the situation.

The union representing workers at a meatpacking plant near Los Angeles where at least 153 employees have come down with COVID-19 called on Thursday for the plant's immediate closure, saying measures to control the outbreak were not working.

Oil prices were mixed on Friday, but were closing out the month with strong gains, bolstered growing fuel demand even as investors worried about worsening Washington-Beijing relations.

It took just three days to sell shares in JDE Peet's as investors facing a dearth of opportunities because of the coronavirus-induced slow-down rushed to secure a dose of the world's No. 2 maker of packaged coffee.

U.S. consumers cut spending by the most on record for the second straight month in April while boosting savings to an all-time high, and the growing frugality reinforced expectations the economy could take years to recover from the COVID-19 pandemic.

Chinese gaming company Beijing Kunlun Tech Co Ltd said on Friday that a U.S. national security panel approved the $620 million sale of popular gay dating app Grindr to an investor group called San Vicente Acquisition LLC.

Wall Street's main indexes retreated on Friday as investors were cautious ahead of a U.S. response to China's national security law on Hong Kong that threatens to take some shine off another month of strong gains for the stock market.

Morgan Stanley is planning to start getting some traders to return to its New York headquarters in mid- to late-June, CNBC reported on Friday, citing people with knowledge of the situation.

Wells Fargo & Co on Friday appointed Kevin Reen as chief risk officer (CRO) for its consumer lending arm and Bill Juliano to lead its operational risk management team as it revealed a new organizational structure to provide risk oversight.

Oil prices eased on Friday on fears of worsening Washington-Beijing relations and lacklustre U.S. fuel demand, but were still headed for sharp monthly gains.

Ryanair's Austrian carrier Lauda said on Friday it was closing down its Vienna base after failing to reach an agreement with unions on pay, and had already relocated many of its 15 planes to other bases.

U.S. consumers cut spending by the most on record for the second straight month in April while boosting savings to an all-time high, and the growing frugality reinforced expectations the economy could take years to recover from the COVID-19 pandemic.

Global stocks fell and safe havens such as bonds and the Japanese yen rallied on Friday as investors awaited Washington's response to China's national security law on Hong Kong amid rising tensions between the world's two biggest economies.

Aircraft makers are circling Brazil's Embraer weeks after Boeing ditched plans for a historic commercial aviation tie-up, people familiar with the matter said.

Oil prices were dragged sharply lower on Friday by weak U.S. fuel demand, fears of a second wave of coronavirus cases in South Korea and a worsening in U.S.-China relations, but were still on track for a hefty monthly gain.