International News
BlackRock profits boosted by recently enacted tax laws
US investment management company BlackRock reported stronger than expected profits from its fourth trading quarter after drawing further cash into its exchange-traded funds (ETFs).
Europe close: Stocks, euro jump after breatkthrough in German coalition talks
Stocks on the Continent fared well at the end of the week as the two main German parties achieved a breakthough in negotiations to form a grand coalition after a marathon 24 hours of talks, boosting asset prices across the single currency bloc.
Wells Fargo eyes closure of 900 branches despite $3.4bn boost to profits
US bank Wells Fargo announced on Friday that it was planning to close around 900 branches over the next four years as part of a cost-cutting initiative, despite having posted an immediate $3. 4bn boost to its profits resulting from reforms to federal tax laws enacted in December.
Facebook will prioritise posts from friends over publishers
Founder of Facebook Mark Zuckerberg has announced Facebook will give priority to posts from friends over posts from companies or the media, with the aim of "having more meaningful social interactions".
JP Morgan beats expectations despite $143m loss from single client
JPMorgan Chase beat Wall Street's expectations for earnings in its fourth trading quarter, saying recent reforms to US tax laws would help boost profits, not only by cutting down the amount of tax the firm paid to the federal government but also by enticing more corporations to borrow further.
US open: Stocks continue to push higher as dollar slips back
Wall Street's main market gauges are continuing to push higher, helped by another drop in the US dollar and as investors sift through earnings from the likes of JPMorgan and Wells Fargo.
Euro rallies to three-year high versus dollar after German coalition breakthrough
The euro rose to a three-year high against the dollar on Friday as investors welcomed a breakthrough in German coalition talks.
Pound jumps on news Spain and Holland to push for 'soft' Brexit
Sterling rose to its best level since the Brexit vote on Friday on news that Spain and Holland's finance ministers have reached an agreement that would see the two work together to lock down a Brexit deal that would keep the UK as close to the EU as possible.
US two-year yields top 2.0% as December core CPI jumps
The cost of living in the US jumped last month, pushed higher by a surge in the cost of used cars and trucks and medical care commodities.
Trump denies saying 'shithole' countries in immigration talks
President Donald Trump rejected a bipartisan compromise to extend protections against deportations of young immigrants on Thursday and questioned why would he allow more immigrants coming from Haiti and “shithole countries” in Africa. On Friday the president denied having said the derogatory comments.
US retail sales grow more quickly than expected in December
US retail sales grew more strongly than expected last month amid especially strong demand for building materials and for on-line retailers.
EU reportedly to hold UK to common fishing policy after Brexit
The EU will resist any renegotiation of fishing quotas in UK waters during any transition period after Brexit, the Guardian reported on Friday citing an unnamed EU diplomat.
Uber used secret system to lock down computers in police raids
Former Uber employees have confirmed the company routinely used a software system called Ripley to lock computers from tax investigators between 2015 and 2016.
US pre-open: Stocks to rise as earnings flow in; retail sales and inflation eyed
US futures pointed to a firmer open on Wall Street on Friday, with investors sifting through earnings from the likes of BlackRock and JPMorgan ahead of retail sales and inflation data.
Trump cancels UK embassy visit, blames Obama for 'bad deal' on building
President Donald Trump has cancelled a planned trip to open the US embassy in London, claiming the cost and location of the new building was a “bad deal”.
Farage backtracks on call for second Brexit referendum
Former UKIP leader and fanatical Brexiteer Nigel Farage performed the swiftest of u-turns on Friday when he backtracked on his call for a second EU referendum.