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S&P 500, Nasdaq close out worst week since December on trade worries

Reuters.com Newsletter

S&P 500, Nasdaq close out worst week since December on trade worries

Wall Street extended its sell-off on Friday on renewed trade fears as the benchmark S&P 500 index and Nasdaq saw their worst weekly percentage plunges since December, when investors were spooked by the prospect of a looming recession.

'Moving fast:' Musk's SpaceX eyes Florida for launch site for Mars rocket

Elon Musk's SpaceX is expanding its facilities in Florida to make room for the space company's forthcoming super heavy-lift launch vehicle dubbed Starship, according to a draft of the plans seen by Reuters on Friday.

China vows fight against Trump's latest tariffs as stocks sink

China on Friday vowed to fight back against U.S. President Donald Trump's abrupt decision to slap 10% tariffs on the remaining $300 billion in Chinese imports, a move that ended a month-long trade truce.

Trump says China has to do a lot to turn things around in trade talks

President Donald Trump said on Friday China has to do a lot in order to turn things around in trade negotiations with the United States and that he can increase tariffs on Chinese goods.

CBS, Viacom reach working agreement on leadership team: sources

Viacom Inc and CBS Corp have worked out a management structure that would see Viacom Chief Executive Officer Robert Bakish leading the combined company if it reaches a deal to merge, sources familiar with the matter said.

Wells Fargo boosts estimate for possible legal reserve shortfall to $3.9 billion

Wells Fargo & Co said on Friday that it boosted its estimate for a possible legal reserve shortfall to $3.9 billion for the quarter ending June 30, from $3.1 billion earlier this year, according to a regulatory filing.

Apple, Google pause reviewing audio recordings from voice assistants

Apple Inc and Alphabet Inc's Google have globally suspended reviewing recordings from users interacting with their voice assistants, as concerns over data privacy mount.

U.S. shale shippers will pay surcharge for Trump steel tariffs

Plains All American Pipeline LP said on Friday it will tack on a fee for users of a new oil pipeline to pay for the cost of the Trump administration's tariffs on imported steel, with analysts and traders calling it the first U.S. energy pipeline operator to do so.

U.S. gives tentative approval for expanded Delta, Air France, Virgin joint venture

U.S. Transportation Secretary Elaine Chao granted tentative approval on Friday for an expanded transatlantic joint venture made up of Delta Air Lines Inc , Air France KLM SA and Virgin Atlantic.

China's new U.N. envoy says Beijing ready to fight U.S. on trade

China's new U.N. ambassador warned on Friday that if the United States wanted to fight China on trade "then we will fight," and signaled that trade tensions could hurt cooperation between the countries on dealing with North Korea.

Group of 12 U.S. states challenge Trump fuel economy penalty freeze

A group of 12 states led by California and New York on Friday challenged the Trump administration's decision to suspend a 2016 Obama administration regulation that more than doubled penalties for automakers that fail to meet fuel efficiency requirements.

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