Friday 25 September 2020

Stocks rally to end bitter week; dollar up the most since April

Stocks rally to end bitter week; dollar up the most since April

Stocks fell 2% around the globe this week and the dollar posted its strongest weekly performance since April as concern over the economic effect of a second wave of coronavirus-related lockdowns weighed on investors' risk appetite.

Wall Street ends higher as tech rally squashes virus fears, but S&P down for week

Technology stocks again rode to Wall Street's rescue on Friday, lifting the main indexes more than 1%, but the Dow and the S&P 500 still posted their longest weekly losing streaks in a year as fears of a slowing economy sparked an almost month-long rout.

Some 3,500 U.S. companies sue over Trump-imposed Chinese tariffs

About 3,500 U.S. companies, including Tesla Inc, Ford Motor Co, Target Corp, Walgreen Co and Home Depot have sued the Trump administration in the last two weeks over the imposition of tariffs on more than $300 billion in Chinese-made goods.

Oil falls on mounting COVID-19 cases, supply concerns

Oil edged lower on Friday, falling more than 2% on the week as COVID-19 cases surged globally and oil supply is set to rise in coming weeks.

FAA chief set to conduct 737 MAX evaluation flight next week

Federal Aviation Administration Chief Steve Dickson is set to conduct an evaluation flight at the controls of a Boeing 737 MAX next week, a key milestone as the U.S. planemaker works to win approval to resume flights, the agency told lawmakers.

Google to block U.S. election ads after polls close

Alphabet Inc's Google will block election-related ads on its platforms after polls close in the U.S. election on Nov. 3, the company told advertisers in an email on Friday.

U.S. FTC moves for rehearing of Qualcomm antitrust defeat

The U.S. Federal Trade Commission on Friday filed a motion to rehear an antitrust lawsuit it lost on appeal against chip firm Qualcomm Inc.

U.S. judge expected to decide by Sunday if TikTok will remain in U.S. app stores

A judge is expected to decide by Sunday whether to allow a ban on TikTok from Apple Inc and Alphabet Inc Google app stores after a last-minute filing by the Department of Justice in support of the move.

Europe regulator sees November lifting of Boeing 737 MAX flight ban

Boeing's grounded 737 MAX could receive regulatory approval to resume flying in November and enter service by the end of the year, Europe's chief aviation safety regulator said on Friday.

Alphabet settles shareholder suit over sexual misconduct cases

Alphabet Inc on Friday settled a shareholder lawsuit that accused the Google parent of covering up lavish exit packages to executives found responsible for sexual misconduct, saying it would overhaul workplace policies and increase oversight of its diversity efforts.

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