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Ferrari will expand its lineup of road cars, but not too much

Italian premium sports car maker Ferrari NV will expand sales of easier-driving grand touring cars, but will not try to chase rival Porsche’s annual sales volume, Ferrari Chairman John Elkann told an audience of classic car enthusiasts gathered at this storied golf resort on the Pacific coast.

Argentina Treasury minister resigns, says ‘significant renewal’ needed amid economic crisis

Argentina´s Treasury Minister Nicolas Dujovne has resigned, saying in a letter seen by Reuters on Saturday he believed the government needed “significant renewal” in its economic team amid a crisis which saw the peso plunge this week.

Last orders: Rise of closing auctions stirs worries in European stock markets

The final five minutes of trading have become the busiest time of day for stock market traders in Europe.

Sainsbury’s says not talking to internal candidates for CEO succession

Sainsbury’s is not talking to internal candidates about succession plans to Chief Executive Officer Mike Coupe and he has the full support of company’s shareholders and the board, a company spokesperson told Reuters late on Saturday.

Exclusive: U.S. set to give Huawei another 90 days to buy from American suppliers – sources

The U.S. Commerce Department is expected to extend a reprieve given to Huawei Technologies that permits the Chinese firm to buy supplies from U.S. companies so that it can service existing customers, two sources familiar with the situation said.

SoftBank plans to lend up to $20 billion to employees to invest in new fund: WSJ

Japan’s SoftBank Group Corp is planning to lend up to $20 billion to its employees, including Chief Executive Masayoshi Son, to buy stakes in its second Vision Fund, the Wall Street Journal reported https://on.wsj.com/307Ljih on Saturday, citing people familiar with the matter.

Standard Chartered faces fine for sanctions breaches: Sky News

Banking group Standard Chartered is facing a fine for failing to prevent sanctions breaches, Sky News reported on Saturday.

Standard Chartered faces fine in coming weeks for sanctions breaches: Sky News

Standard Chartered PLC is facing a fine for failing to prevent sanctions breaches, Sky News reported on Saturday.

Alibaba and the $15 billion question: Amid Hong Kong’s protests, when to list?

Hong Kong’s political unrest is posing a dilemma for Alibaba Group Holding Ltd on the timing of its planned $15 billion listing in the city, with sources saying China’s biggest e-commerce company is now considering several timetables.

Exclusive: U.S. to extend Huawei’s partial reprieve on supply curbs – sources

The U.S. Commerce Department is expected to extend a reprieve given to Huawei Technologies that permits the Chinese firm to buy supplies from U.S. companies so that it can service existing customers, sources familiar with the situation said.

Court leaves PG&E with sole right to submit bankruptcy plan

A federal judge on Friday allowed PG&E Corp to retain the sole rights to propose a plan to exit bankruptcy, as he rejected efforts by investors to put forward competing plans, according to court documents.

PES up against the clock to sell Philadelphia refinery in cash crunch

Finding a buyer for Philadelphia Energy Solutions’ oil refinery has grown urgent as the bankrupt company’s funds dwindle and no signs emerge that it is winning a fight for insurance payouts after a June blaze at the plant, according to court documents and bankruptcy experts.

Amazon.com defeats IRS appeal in U.S. tax dispute

Amazon.com Inc on Friday defeated an appeal by the U.S. Internal Revenue Service in what the online retailer has called a $1.5 billion dispute over its tax treatment of transactions with a Luxembourg subsidiary.

U.S. judge urges VW, SEC to resolve civil Dieselgate suit

A federal judge in California on Friday urged the U.S. Securities and Exchange Commission and Volkswagen AG to resolve a civil suit stemming from its Dieselgate emissions scandal.

Airbnb records 30% growth rate in first-quarter on booking strength: source

Airbnb Inc recorded $9.4 billion in total booking value in the first quarter, up 31% from the year-ago quarter, a source familiar with the matter said on Friday, a key number that could help pull in investors as the home-sharing company plans its foray into the public market.

Trump says he is having dinner Friday with Apple CEO Cook

U.S. President Donald Trump said he was having dinner on Friday with Chief Executive Officer Tim Cook of Apple Inc, a company the president has criticized for not manufacturing more of its products in the United States.

Take Five: Fed in a hole

On Wednesday, the U.S. Federal Reserve releases the minutes of its last meeting, revealing what policymakers said about the flattening Treasury yield curve and the strength of support for July’s quarter-point rate cut.

U.S. removes some Chinese furniture, modems from planned 10% tariffs

The Trump administration is sparing some Chinese-made household furniture, baby items and internet modems and routers from its next rounds of 10% tariffs, it said on Friday.

Wall Street Week Ahead: Lower rates could boost housing stocks, but risks remain

Lower U.S. interest rates could help support outperforming U.S. homebuilder stocks, even as they raise worries about the economy, while a bonanza of industry data and Federal Reserve speakers next week are likely to help shape the outlook.

EQM stops some work on WV-VA Mountain Valley natgas pipe

EQM Midstream Partners LP told U.S. federal regulators the company would stop some work on its long-delayed Mountain Valley natural gas pipeline from West Virginia to Virginia as the U.S. Fish and Wildlife Service reviews a couple of permits.

PG&E to hold sole rights to bankruptcy exit plan: WSJ

A judge overseeing PG&E Corp’s bankruptcy case allowed the California utility to hold on to sole rights to its Chapter 11 exit plan, the Wall Street Journal reported on Friday.

Wall Street ends sharply higher on German stimulus optimism

U.S. stocks rebounded on Friday as an ebbing bond rally and news of potential German economic stimulus brought buyers back to the equities market, closing the book on a tumultuous week.

Dollar firms, global stocks soar on ECB rate cut expectations

U.S. and European stocks surged on Friday on expectations the European Central Bank will cut interest rates but the dollar pared gains against the euro after a report said the German government was prepared to take on new debt to lift the economy.

Canada awards multi-billion contract to General Dynamics as election looms

Canada on Friday announced a multi-billion dollar contract with General Dynamics Corp for equipment that will be manufactured in a region where the ruling Liberals need to do well in an October election.

Oil rises alongside equities, but downbeat OPEC outlook caps gains

Oil prices on Friday rebounded from a two-day drop, alongside equities as expectations of further stimulus by central banks helped to ease recession concerns.

Exclusive: Fed’s Mester weighing argument for U.S. rate cut

One Federal Reserve policymaker who opposed the Fed’s recent rate cut is considering whether to support such a move now given risks that a U.S.-China trade war and global slowdown could derail the economy.

Lower rates could boost housing stocks, but risks remain

Lower U.S. interest rates could help support outperforming U.S. homebuilder stocks, even as they raise worries about the economy, while a bonanza of industry data and Federal Reserve speakers next week are likely to help shape the outlook.

Wall Street jumps on German stimulus hopes

Technology shares led Wall Street’s advance on Friday as a waning bond rally and news of potential German economic stimulus brought buyers back to the market at the close of a turbulent week.

Oil rises alongside equities, but weak OPEC outlook caps gains

Oil prices on Friday rebounded from a two-day drop, alongside equities as expectations of further stimulus by central banks helped to ease recession concerns.

Tyson recalls nearly 40,000 pounds of Weaver chicken patties

Tyson Foods Inc is recalling nearly 40,000 pounds of its Weaver chicken patties after some consumers found pieces of rubber in the product, the no. 1 U.S. meat processor said.

U.S. housing market mired in weakness; consumer sentiment ebbs

U.S. homebuilding fell for a third straight month in July amid a steep decline in the construction of multi-family housing units, but a jump in permits to a seven-month high offered hope for the struggling housing market.

Wall Street boosted by stimulus hopes

Wall Street’s three main indexes rose more than 1% on Friday, clawing back some losses from a brutal selloff this week on hopes of more stimulus from central banks to perk up slowing growth.

Rental firm walks away from Tesla order after quality dispute

Car rental company Nextmove has walked away from a 5 million euros ($5.55 million) order for 85 Tesla Model 3 electric vehicles following a dispute over how to fix quality issues, the German company said on Friday.

U.S. drillers add oil rigs for first week since June: Baker Hughes

U.S. energy firms this week increased the number of oil rigs operating for the first time in seven weeks despite plans by most producers to cut spending on new drilling this year.

Dollar firms, stocks soar on ECB rate cut expectations

The dollar strengthened while U.S. and European stocks surged on Friday amid growing expectations the European Central Bank will cut interest rates to stimulate the economy and after China said it plans to boost disposable income to spur consumption.

Deere to slash costs after trade war hits earnings

Deere & Co. on Friday announced a review of costs after a combination of the U.S.-China trade war and bad weather dented its quarterly profits, forcing the company to trim its full-year earnings forecast for a second time in the past three months.

Wall Street extends gains on German stimulus hope

U.S. stocks rose on Friday and were on track to end a bruising week on a positive note, bolstered by hopes of more stimulus from central banks to perk up slowing growth.

U.S. surfboard makers not so stoked about China tariffs

President Donald Trump’s decision to slap 10% tariffs on imported surfboards convinced surf executive Sue Bowers to move factory jobs out of China – but not back to the United States, which was one goal of Trump’s tariffs.

Germany’s Nextmove cancels Tesla order, citing quality issues

German car rental firm Nextmove has canceled the bulk of a 100-vehicle order from Tesla worth 5 million euros ($5.54 million) over quality problems with the Model 3, it said on Friday.

Wall Street climbs at end of turbulent week

Hopes of more official stimulus for the economy and the easing of a bond market rally drove a broad rise in U.S. stocks on Friday, as a bruising week for markets drew to a close.

OPEC sees bearish oil outlook for rest of 2019, points to 2020 surplus

OPEC delivered a downbeat oil market outlook for the rest of 2019 on Friday as economic growth slows and highlighted challenges in 2020 as rivals pump more, building a case to keep up an OPEC-led pact to curb supply.

Stocks gain on stimulus hopes but still head for third losing week

World stocks rose on Friday as expectations grew of further stimulus by central banks, offsetting worries about slowing economic growth, which intensified this week as the U.S. yield curve inverted for the first time since 2007.

Oil edges up as recession fears ease but OPEC outlook weighs

Crude oil prices rose on Friday, recovering from two days of declines, after data showing a rise in U.S. retail sales helped to ease recession concerns, although a bearish outlook from OPEC capped gains.

BMW’s CEO urges staff to narrow sales gap with Mercedes

BMW’s new chief executive urged employees to embrace change and to find innovative ways to help the Bavarian carmaker overtake rival Mercedes at a time when demand for luxury cars is waning.

Deere trims earnings forecast on trade war effects

Deere & Co. on Friday cut its earnings forecast and announced a review of costs after quarterly profits yet again missed Wall Street’s estimates, hurt by bad weather and the U.S.-China trade war that have depressed sales of its farm machines.