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.
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.
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.
Renowned UK investor Neil Woodford’s Patient Capital trust is to receive a much-needed £35m boost from the IPO of one of its young biotech companies, weeks after the trust was kicked out of the FTSE 250 following a period of under performance.
Existing cross-border contracts should be honoured in the UK’s EU withdrawal agreement, or the financial sectors of each side will face a chaotic “cliff edge”, an influential City association has argued.
The leader of the Welsh Conservative Party on Friday rubbished Airbus’ warning that it may be forced to move its operations outside the UK after Brexit as “hyperbole,” and called the company’s announcement a “disservice” to its employees.
A Chinese state-owned industry fund has taken ownership of Anbang Insurance Group, one of China’s most acquisitive conglomerates before the spectacular downfall of its founder Wu Xiaohui, who was jailed for fraud last month after regulators said the company was insolvent.