Wall Street's major indexes fell on Friday as U.S. President Donald Trump raised the possibility of additional tariffs on Chinese imports and Apple Inc indicated that some of its products could be subjected to such levies.
Apple earlier this week in a a letter to the U.S. Trade Representative's office warned that tariffs on $200 billion dollars worth of goods from China would hit some of its products, but President Trump is now threatening a new round of tariffs that would slap duties on all good from China.
A "wide range" of Apple Inc products including the Apple Watch would be affected by proposed U.S. tariffs on Chinese goods, the company told U.S. trade officials, but gave no sign of an impact on its iPhone cash cow.
Media reports that the U.S. Air Force is reviewing the security clearance of Elon Musk, the chief executive of automaker Tesla Inc are inaccurate, a U.S. Air Force spokesperson said on Friday.
Apple Inc. said proposed U.S. tariffs on $200 billion of Chinese goods would affect several of its products including the Apple Watch, hurting American consumers and putting the company at a competitive disadvantage.
A "wide range" of Apple Inc products including its Watch likely would be hit by proposed U.S. tariffs, the company told U.S. trade officials, but it did not name the iPhone as among the products affected.
The Federal Reserve should keep raising U.S. interest rates until mid-2019, and only then needs to take a decision on when it ought to stop, Dallas Fed President Robert Kaplan suggested on Friday.
World share indexes registered their biggest weekly declines in almost six months in a volatile session on Friday as investors weighed solid U.S. economic data against expectations for higher interest rates and U.S. trade tensions on multiple fronts.
Kraft Heinz Co is feeling the pinch from trade conflicts and rising costs, but is still willing to consider an acquisition to fuel growth, its chief executive officer said on Friday.
U.S. President Donald Trump warned on Friday he was ready to slap tariffs on virtually all Chinese imports into the United States, threatening duties on another $267 billion of goods on top of $200 billion in imports primed for levies in coming days.
The CEO of Kraft Heinz on Friday told Reuters he hopes the United States and Canada can resolve their trade dispute 'at a fast pace.'
In a speech last month Federal Reserve Chair Jerome Powell voiced doubts about the usefulness of some of the key economic measures officials have been relying on to guide U.S. interest rate policy in recent years.
Canada's top trade negotiator said on Friday she and her U.S. counterpart were making "very good progress" in talks to save the North American Free Trade Agreement amid increasing Canadian optimism that a deal could be reached, even if a conclusion did not appear imminent.
Manufacturer Pirelli said on Friday it had ceased operations in Venezuela, selling its car tire factory for an unspecified amount and adding to the flood of foreign businesses abandoning the crisis-wracked country.
FTSE Russell's global markets research director tells Reuters' Fred Katayama that despite tech's big bull run, valuations are not unreasonable.
World share indexes limped toward their worst week in almost six months on Friday and trading was volatile as investors weighed solid economic data against expectations for interest rate hikes and escalating U.S.-China trade tensions.