Chinese food delivery and online services company Meituan-Dianping has filed a draft prospectus to the Hong Kong stock exchange, the first preview into what will likely be one of the year’s largest public offerings.

Stocks were broadly lower in Asia-Pacific trading after the latest signs of trade hostility between China and the US.

The renminbi weakened to a fresh five and a half month low on Monday after China’s central bank said it will free up more than $100bn to help cushion a slowing economy and the impact of a potential trade war with the US.

Brent crude oil fell below the $74 a barrel mark on Monday after the Opec oil cartel agreed at the weekend to ramp up oil production by as much as 1m barrels a day in an effort to cool a rally in crude prices.

The Turkish lira firmed as much as 2.1 per cent in early Asia-Pacific trading on Monday after Turkey’s president Recep Tayyip Erdogan claimed victory on Sunday night in pivotal presidential and parliamentary elections. 

Commonwealth Bank of Australia has announced plans to de-merge from its wealth management and mortgage brokerage business and will bring in an outside hire to replace its current chief risk officer, who has been tapped to lead the split.

China is cutting the amount of reserves the country’s banks are required to keep on deposit at the central bank, freeing up more than $100bn to help cushion a slowing economy and the impact of a potential trade war with the US.

The Fifa World Cup may be nearing the knockout stage, but before that, there’s a Turkish election, an EU summit and some US economic data to tackle.

Netflix’s top communications officer has left the content streaming company after making “insensitive” remarks.

Wall Street finished higher at the end of a rough week, with a leap in oil prices lifting energy stocks and helping the Dow Jones Industrial Average end a lengthy losing streak.

US crude surfed to its biggest one-day gain since November 2016 on Friday, after major global producers reached a compromise agreement to lift oil production by up to 1m barrels a day.

CarMax shares shifted into high gear on Friday, cruising to an all-time high after the US used-car retailer reported better than expected sales and earnings.

Petropavlovsk and a group of investors seeking to oust its board have continued to trade blows ahead of next week’s annual shareholder meeting.

US stocks are starting to get some of their momentum back on Friday, with the Dow Jones Industrial Average set to snap an eight-session losing streak thanks to a surge in energy stocks as major global oil producers agreed a deal to raise output.

Shares in Russian conglomerate Sistema plunged 13 per cent on Friday after two members of the US Congress called for its oligarch owner to be investigated to determine whether he should be hit by sanctions.

US President Donald Trump on Friday threatened to impose a 20 per cent tariff on European auto imports, the latest volley in his escalating global trade war.

BitFlyer has stopped accepting any new customers after the Japanese financial regulator ordered the country’s biggest cryptocurrencies exchange to improve its procedures.

Novo Banco, the lender created out of the failure of Portugal’s Banco Espírito Santo in 2014, is aiming to sell €400m of subordinated debt in a test of whether it will be able to win over international investors burnt during the collapse of its predecessor.

Saudi Arabia has won a deal to lead Opec in a production increase as the cartel and its allies bid to cool oil’s rally to the highest price level since 2014.

Oil prices extended their gains on Friday as Saudi Arabia won a deal to lead Opec in a roughly 1m barrel a day output boost as it seeks to cool the rally in crude.

House of Fraser’s creditors have approved the recovery plan proposed by the department store chain to close more than half its shops in an effort to avoid financial collapse, putting up to 6,000 jobs at risk.

US futures are higher on Friday morning at the end of a week characterised by the escalating trade dispute between the US and its allies.

The Canadian dollar has taken a knock after data showing that the country’s inflation rate has been running well behind forecasts.

Mercedes parent Daimler on Friday named Katrin Adt the new head of its urban microcar marque, Smart.