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Markets

Wall Street drops as Broadcom warning hits chip stocks

U.S. stock index futures dropped on Friday, as the long-feared hit to global growth from President Trump's trade war crystallized in slashed sales forecasts from chipmaker Broadcom, and signs of the worst slowdown in Chinese industry in 17 years.

Markets

All eyes on Fed as stock market pines for rate cut

The Federal Open Market Committee meeting next week is shaping up as a pivotal one for Wall Street, with stocks primed for a selloff should the Fed fail to take an even more dovish tilt after policymakers raised expectations for a rate cut in recent weeks.

Markets

Dish execs met with DOJ, FCC on T-Mobile, Sprint merger

Dish Network Corp executives met this week with the U.S. Justice Department's antitrust chief Makan Delrahim and Federal Communications Commission chairman Ajit Pai on the government's review of the proposed US$26.5 billion tie-up of wireless carriers T-Mobile USA and Sprint Corp .

Markets

EU finds Russian disinformation, says tech firms must do more

Russian online outlets spread disinformation to sway voters in last month's European Union elections, the bloc said on Friday in a report calling for social media firms to take greater action or risk regulation.

Markets

EU’s Malmstrom hopes Trump, Xi can meet and reduce trade tensions

European Union Trade Commissioner Cecilia Malmstrom is hoping U.S. President Donald Trump meets his Chinese counterpart, Xi Jinping, at the G20 summit in Japan later this month to try to reduce trade tensions between the two countries.

Markets

Carrefour sees more retail sector consolidation, including in France

The boss of Carrefour said on Friday the retail sector was bound to consolidate in the coming years, notably in France, as competition intensifies, and that his mission was to make sure the French retailer came out a winner.

Markets

Local labor laws apply to Ryanair employees: Belgian court

Belgium's labor laws can apply to Ryanair employees based in the country, a local court ruled on Friday, in a case that could set a precedent elsewhere in Europe and upholds a 2018 agreement reached between the airline and Belgian unions.

Markets

Rising oil prices add to global economic strife

Escalating tension in the Middle East is driving up oil prices, a huge import cost for many economies, putting more strain on global growth already hurt by the trade war being waged by U.S. President Donald Trump and weakening consumer confidence.

Markets

Broadcom’s US$2 billion warning shocks global chip sector

Broadcom Inc sent a shockwave through the global chipmaking industry on Friday with its forecast that U.S.-China trade tensions and the ban on doing business with Huawei Technologies would knock US$2 billion off the company's sales this year.

Markets

US retail sales rise solidly in May; April data revised up

U.S. retail sales increased in May and sales for the prior month were revised higher, suggesting a pick-up in consumer spending that could ease fears the economy was slowing down sharply in the second quarter.

Markets

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