Friday, 19 October 2018

U.S. extends deadline for investors to divest holdings in Russia's Gaz

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U.S. extends deadline for investors to divest holdings in Russia's Gaz

The U.S. Treasury said on Friday it was extending a deadline for investors to divest certain operations, debt and equity of sanctioned Russian company Gaz Group until Dec. 12.

Wanda Ferragamo, matriarch of famed shoemaker, dies at 96

Wanda Ferragamo, the honorary president of the Florentine shoemaker founded by her husband Salvatore, has died at the age of 96, the family said on Friday.

U.S. frees Prudential Financial from more rigorous Fed oversight

A U.S. regulatory council announced on Wednesday it had removed the systemically risky label from Prudential Financial , freeing the insurance company from more rigorous oversight by the Federal Reserve.

Facebook hires former UK deputy prime minister as head of global affairs

Facebook Inc has hired former British Deputy Prime Minister Nick Clegg to lead its global affairs and communications team, as the social network deals with a number of scandals related to privacy, fake news and election meddling.

Switzerland, Victorinox settle legal fight over Swiss Army perfume

Fans of Swiss Army perfume can breathe a sigh of relief: the government and knifemaker Victorinox have settled a legal row that paves the way for military-grade scents to be sold in North America.

AbbVie CFO Chase stepping down, to retire by mid-year 2019

AbbVie Inc said on Friday that Chief Financial Officer William Chase is retiring in mid-2019 and named its controller, Robert Michael, his immediate successor as CFO.

Air France inks pay deal in milestone for new CEO

Air France-KLM's new Chief Executive Ben Smith struck a pay deal with French unions on Friday, drawing a line under a protracted standoff that had led to costly strikes and the abrupt departure of his predecessor earlier this year.

EU signs Singapore trade deal, urges China to open up

The European Union signed a free-trade deal with Singapore at a summit with Asian leaders on Friday and pressed China to allow greater foreign investment in its economy, but ran into familiar resistance from Beijing over state subsidies.

Consumer staples lead Wall Street rebound

U.S. stocks rose broadly on Friday, driven by the consumer staples sector which was helped by Procter & Gamble results, brushing aside growth risk concerns in Europe and political tensions in Saudi Arabia.

Honeywell says China growth slowing, tariffs to squeeze margins

Honeywell said on Friday it was seeing slower growth in China and that trade tariffs would squeeze margins and potentially cost it "hundreds of millions" of dollars in 2019.

P&G shares surge on strong results, higher product prices

Procter & Gamble Co reported better-than-expected quarterly profit and sales, and said it was raising prices on several products around the world, sending shares up on Friday by their most in a decade.

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