Singapore’s economy avoided entering a technical recession in the third quarter, while the city-state’s de facto central bank nudged monetary policy lower in a bid to offset some of the impact of slowing global growth and the US-China trade war.

Banks unofficially kick off earnings season, EU leaders gather for a summit ahead of the Brexit deadline and the World Bank and IMF kick off their annual meeting. Updates on the health of the world’s two largest economies round out a busy week.

Fox News anchor Shepard Smith, a frequent critic of US President Donald Trump, on Friday announced that he was stepping down effective immediately from the network after 23 years.

The US Securities and Exchange Commission has sued Telegram, the encrypted instant messaging and voice app, alleging its $1.7bn token offering had broken federal securities laws.

Five companies, led by Mastercard, Visa and eBay, pulled out of Facebook’s planned digital currency Libra on Friday, following sustained political pressure and just days before the project’s backers are due to meet for their first board meeting.

US stocks trimmed their gains late in the session as the Trump administration announced it had agreed a limited deal on trade with China.

Iran said one of its oil tankers had been hit by missiles near Saudi Arabia’s port city of Jeddah, causing an oil spill and reigniting concerns about maritime security in the Gulf.

The UK has been pressed to join the US government in imposing sanctions on South Africa’s Guptas, the business family at the centre of corruption allegations against former president Jacob Zuma.

Breaking up is hard to do but IAC is doing it anyway. The media and internet holding company said on Friday it is pushing ahead with its plans to spin-off dating company Match Group and has presented a proposal to the company’s board.

Silvio Berlusconi’s Mediaset has suffered a blow to its plan to create a pan-European broadcaster after a Spanish court halted the merger of its Italian and Spanish businesses.

Sterling and UK assets shot higher as a burst of optimism that a Brexit deal with the EU is still possible swept through markets.

Sirius Minerals shares, which were hit last month after the UK potash miner pulled a $500m bond sale, rallied almost 10 per cent following its announcement of a supply and distribution agreement with a fertiliser company owned by the Qatar state.

Citigroup has named Douglas Adams and James Fleming its new global co-heads of equity capital markets (ECM), the unit that helps companies raise money on public stock exchanges, according to a memo seen by the Financial Times.

Hugo Boss shares slumped to the lowest level in almost a decade after the German fashion house warned on profits for the second time in as many months, blaming “persistent macroeconomic uncertainties” and the political unrest in Hong Kong.

Russian president Vladimir Putin has warned that the Turkish invasion of northern Syria could result in the freeing of thousands of captured Isis fighters, and suggested Moscow could use its own security services to respond.

BP will take an impairment charge of up to $3bn after the energy major agreed to sell a parcel of US assets for a value lower than it had on its books.

Nike said it will shut down the Oregon Project, the athletics training programme funded by the US sportswear giant, following a doping scandal that has engulfed the company.

The International Energy Agency has cut its oil demand growth forecasts for this year and next on weakness in major world economies.

Jupiter Asset Management had outflows of £1.1bn from its European Growth fund in the third quarter, after its manager, the star stockpicker Alex Darwall, announced his departure.

Publicis shares slid as much as 15 per cent on Friday after the world’s third-largest advertising group by revenues cut its full-year guidance for the second time in three months, blaming US client losses.

UK markets regulators have hit TP ICAP with a £15.4m penalty to settle charges the interdealer broker had ineffective controls over the conduct of its brokers and failed to be open and co-operative with a regulatory investigation.

US stocks closed higher on Thursday as investors took an optimistic stance ahead of the resumption of high-level trade talks in Washington between the US and China.

The British pound extended its gains against the US dollar on Thursday and was eyeing its biggest one-day gain in seven months amid hopes for a Brexit deal.

Euronext plans to push deeper into data, private markets and sustainable investing as part of a new three-year strategic plan it published late on Thursday.