Republican Brian Kemp will become the next governor of Georgia after Democrat candidate Stacey Abrams admitted defeat on Friday, ending a bitter contest.

China cut its holdings of US Treasuries by the most since January in September, as foreign investors pull back from the market even as the US government ramped up its debt issuance. 

China is the largest foreign holder of US Treasuries but its purchases have flatlined in recent years, raising concerns that the declining demand could weigh on US government bond prices and push interest rates higher. 

The country's total holdings fell $13.7bn to $1.15tn in September, according to data from the US Treasury released on Friday. The drop marks the fourth straight month of declines. The total amount of Treasuries held by foreign investors has followed a similar path to its largest holder, hovering slightly above $6tn since 2014. The total fell $63.3bn during September to $6.22tn. 

US stocks ended a see-saw session in positive territory on Friday as surging real estate and utilities shares offset a lacklustre day for the technology sector.

Pfizer said it would increase the price of 41 products in its drug portfolio, just four months after having initially put off those plans amid heavy criticism from US President Donald Trump.

Fidelity has promoted technologist Steve Neff to run its sprawling asset management division following the retirement of Charlie Morrison, a three-decade veteran of the Boston investment giant.

US President Donald Trump has signalled his intention to nominate Andrew Wheeler as the Environmental Protection Agency’s permanent chief.

The tumbling price of crude oil in the past fortnight has put two of the biggest junk bond exchange traded funds on track for their worst weekly performances in nine months.

Israeli prime minister Benjamin Netanyahu was racing to save his government on Friday as the fallout from an unpopular ceasefire with Hamas triggered the loss of a second key coalition partner and pushed the country towards early elections. 

The head of Google’s cloud business, Diane Greene, is leaving after a period of intensive investment to close the gap with market leader Amazon Web Services.

Airbnb said Friday it booked more than $1bn in third-quarter revenue, driven by international growth in bookings.

Glencore’s giant Kamoto copper and cobalt mine in the Democratic Republic of Congo can start exporting again.

France and Germany will present a joint plan to create a eurozone only budget to finance ministers on Monday, in the latest breakthrough for Paris and Berlin’s strategy of developing new spending tools for the single currency.

The broader US market swung between gains and losses in morning trade, capping off an already shaky week for stocks.

Pacific Gas & Electric shares rebounded sharply on Friday after a California regulator eased concerns over the utility’s potential liabilities tied to a massive wildfire in the state.

Amber Rudd is set to return to government after being appointed the new work and pensions secretary.

The dollar fell and Treasuries rallied on Friday after the Fed’s newly appointed vice-chairman issued cautious comments that further reinforced the market’s view the US central bank would be in no hurry to step up its pace of interest rate rises.

A federal judge has ordered the Trump administration to reinstate the White House pass of a CNN reporter, granting the news organisation an initial victory in its case against the government.

The UK’s competition regulator has launched an investigation into a suspected cartel in the financial services sector.

Mining and utilities dragged on the US industrial sector, prompting it to expand at a slower than expected pace in October even as manufacturing chugged along.

Germany’s top central banker has called into question whether the European Central Bank’s expanded monetary policy toolkit should survive the crisis.

Paramount Pictures has struck a deal to make films for Netflix, becoming the first major studio to form a production partnership with the streaming giant that has disrupted Hollywood. 

Iraq and the Kurdistan Regional Government have resumed oil exports from the disputed region of Kirkuk for the first time in more than a year, responding to calls from Washington to boost output as US sanctions target Iran.

Royal Bank of Scotland has been removed from a list of the world’s most important banks, meaning it will no longer have to hold additional capital to offset the systemic danger it used to present to the global financial system.

Michael Gove said on Friday he would not resign from his position as environment secretary and stressed it was essential the UK secured “the right deal in the future” in Brexit negotiations.