World stock markets and oil prices rallied on Friday, fueled by hopes for global growth after China rolled out a surprise interest rate cut and the European Central Bank indicated it would step up asset purchases to boost the euro zone economy.
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Draghi throws ECB door open to money printing as global prospects dim
European Central Bank President Mario Draghi threw the door wide open on Friday for more drastic measures to prevent the euro zone from sliding into deflation, promising to use whatever means necessary as China also acted to boost its sagging economic growth.
Chinese premier urges 'new growth engines' amid slowing economy: Xinhua
Chinese Premier Li Keqiang has called for "new growth engines" to counter slowing growth in the world's second largest economy, Xinhua reported late on Friday.
Bank of America hires U.S. officials for financial crime team
Bank of America has hired two U.S. government officials to join its financial crimes team, according to three people familiar with the matter, as banks are under increasing pressure to police their transactions for suspicious activity.
Canada sees Burger King/Tim Hortons decision before Christmas
The Canadian government will decide before Dec. 25 on whether to approve the takeover by U.S.-based Burger King Worldwide Inc (BKW.N) of Canada's iconic coffee-and-donut Tim Hortons Inc (THI.TO), Industry Minister James Moore said on Friday.
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The European Parliament is preparing a non-binding resolution that proposes splitting Google Inc's (GOOGL.O) search engine operations in Europe from the rest of its business as one possible option to rein in the Internet company’s dominance in the search market.
Jean-Claude Juncker will unveil a much anticipated 300-billion-euro ($370 billion) investment plan on Wednesday that is meant to trigger economic growth in the European Union.
U.S. stock investors head into the Thanksgiving holiday thankful for the market's recent strength, which puts major indexes on track for another year of double-digit gains, though the swiftness of the advance has raised eyebrows.
The Pentagon said on Friday it had awarded Lockheed Martin Corp (LMT.N) a contract valued at $4.7 billion for an eighth batch of F-35 fighter jets that lowered the average price per jet by 3.5 percent from the last contract, and 57 percent from the first batch.
Recently released Chinese data suggest a grim economic outlook for the country. Foreign direct investment has been consistently declining; consumer price index showed some stability this month but remained below 2 percent, flash manufacturing PMI also declined in November and gross domestic product fell to its slowest pace since the global financial crisis, registering 7.3 percent year-on-year expansion in the third quarter.
While the fall in the oil prices is generally regarded as positive for many businesses, it has a major influence on inflation expectations, interest rates and bond prices at the global level.
Singapore said on Friday it plans to regulate fast-growing third-party taxi booking services like Uber and GrabTaxi for the first time, capping fees and requiring them to dispatch only licensed cabs and drivers.
China and "probably one or two" other countries have the ability to invade and possibly shut down computer systems of U.S. power utilities, aviation networks and financial companies, Admiral Mike Rogers, the director of the U.S. National Security Agency, said on Thursday.
Brazil's JBS SA (JBSS3.SA), the world's largest beef exporter, has agreed to buy Australian processed foods producer Primo Smallgoods for $1.25 billion.
