Reuters Business Today: June 23, 2017

Click to View in Browser Friday, June 23, 2017 Tech shares boost Nasdaq; energy stocks rebound (Reuters) - U.S. stocks rose on Friday, with the Nasdaq set to post its first weekly gain in three weeks, helped by strength in technology stocks, while energy shares rebounded as oil prices rose. EU promises tough line on U.S., China while pushing for free trade BRUSSELS (Reuters) - German Chancellor Angela Merkel warned U.S. President Donald Trump on Friday that Europe would react in kind if the United States did not play fair in trade, while EU leaders also agreed to consider screening investments by state-owned Chinese firms. GM settles hundreds of ignition switch lawsuits NEW YORK (Reuters) - General Motors Co has agreed to settle federal lawsuits by as many as 203 plaintiffs over defective ignition switches in its vehicles, a Friday court filing shows. Ford recalls 15,600 cars in South Africa over fire risk JOHANNESBURG (Reuters) - Ford Motor Co is recalling nearly 16,000 Ikon and Figo models in South Africa due to a potential fire risk, it said on Friday. Russia's fighter jet makers 'not afraid' of U.S. competition in India PARIS (Reuters) - Russian military aviation firm MiG said on Friday it was ready to deepen its cooperation with India, just days after U.S. arms maker Lockheed Martin Corp agreed with Tata Advanced Systems to build F-16 fighters there. Oil creeps up from 10-month low, down nearly 4 percent on week NEW YORK (Reuters) - Oil futures edged higher on Friday with a lift from a weaker dollar, but finished a fifth straight week lower as OPEC-led production cuts have failed to substantially reduce a global crude glut. DBRS downgrades Cenovus after ConocoPhillips deal CALGARY, Alberta (Reuters) - Ratings agency DBRS on Friday downgraded Cenovus Energy Inc, saying the Canadian oil company's acquisition of ConocoPhillips assets in March negatively affects its credit and more than outweighs the benefits of the deal. Honda engineer debunks own claim about cause of Takata air bag failures DETROIT (Reuters) - Honda Motor Co on Friday released a 2013 email in which one of its engineers suggested that he knew some hidden truth about "the root cause" of Takata Corp air bag failures, but the engineer later said he was mistaken. Are you being served? Planemakers alter sales pitch to boost profit PARIS (Reuters) - Airbus and Boeing leave this week's Paris Airshow with plans for ambitious growth in aviation services, as flattening demand for new jets and pressure to raise profit margins encourages planemakers to deepen their exposure to airline operations. Italy's Veneto banks failing, to be wound up: ECB FRANKFURT (Reuters) - Italian lenders Veneto Banca and Banca Popolare di Vicenza are failing or likely to fail and will be wound down, the European Central Bank ruled on Friday. Related Video London tower fire began in Hotpoint fridge freezer Sensors, alerts keep drivers awake in autonomous cars Counterparties is a curated snapshot of the best finance news and commentary around the web. Register Today News you can use with actionable, timely advice for managing your financial life, including retirement, taxes, real estate, education and more. Register Today » » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2017 Thomson Reuters Ensure delivery of Reuters Newsmails, add newsletters@email.reuters.com to your address book. Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook