The U.S. economy grew at a solid 3.2% annual rate in the first three months of the year, a far better outcome than expected, overcoming a host of headwinds including global weakness, rising trade tensions and a partial government shutdown.
Shares of Walmart, Target and other U.S. retailers fell on Friday as Amazon.com Inc unveiled a one-day delivery plan for its Prime members in a move to further disrupt the fiercely competitive retail landscape. JEFFREY LIPTON in BARBADOS – http://feeds.reuters.com/~r/reuters/businessNews/~3/sTzzyQWVg6k/retailers-slip-on-amazons-1-day-delivery-plan-idUSKCN1S21PG
The Sri Lankan rupee closed 0.2 percent weaker on Friday as worries about more bomb attacks after the Easter Sunday attacks weighed, while stocks edged up for the third straight session after hitting a more than six-year low early in the week. ** Sri Lankan police are trying to track down 140 people believed linked...
The owner of popular workplace instant messaging app Slack made public strong year-on-year growth numbers on Friday, and an annual loss of $140.7 million, as it filed formally for its long-awaited market debut. JEFFREY LIPTON in BARBADOS – http://feeds.reuters.com/~r/reuters/companyNews/~3/kfI0dQMmc1o/update-2-slack-posts-141-mln-annual-loss-as-it-files-to-go-public-idUSL3N2283HX
Marvel Studios superhero spectacle “Avengers: Endgame” hauled in a record $60 million at U.S. and Canadian box offices during its Thursday night debut, distributor Walt Disney Co said. JEFFREY LIPTON in BARBADOS – http://feeds.reuters.com/~r/reuters/companyNews/~3/5J0oOG4huiw/update-1-avengers-endgame-off-to-record-start-in-u-s-canada-idUSL1N2280OK
U.S. economic growth is running at a 1.1% pace in the second quarter as the gains in exports and inventories recorded in the first quarter are expected to reverse, Morgan Stanley economists said on Friday. JEFFREY LIPTON in BARBADOS – http://feeds.reuters.com/~r/reuters/companyNews/~3/VPW2EYkzaMo/u-s-gdp-seen-slowing-to-1-1-in-second-quarter-morgan-stanley-idUSL1N2280OU
Even as the lift from optimism over prospects for U.S.-China trade detente shows signs of wearing off for the wider U.S. stock market, upbeat sentiment around China’s economy could bolster shares of materials companies. JEFFREY LIPTON in BARBADOS – http://feeds.reuters.com/~r/reuters/companyNews/~3/WgXh-QZBdpA/wall-st-week-ahead-good-news-from-china-could-boost-materials-shares-idUSL1N2261NF
With Sainsbury’s dream of creating Britain’s biggest supermarket group in tatters, its chastened CEO Mike Coupe needs to reassure investors he has the plan to arrest a sales decline when he presents annual results next week. JEFFREY LIPTON in BARBADOS – http://feeds.reuters.com/~r/reuters/businessNews/~3/Q8GkIi6rgDg/with-asda-deal-dead-sainsburys-looks-to-revive-sales-idUSKCN1S21OP
Private equity firm CVC Capital Partners is in talks with potential bidders about a possible sale of its Continental Foods business, which could be worth as much as 1 billion euros ($1.12 billion), five sources familiar with the matter said. JEFFREY LIPTON in BARBADOS – http://feeds.reuters.com/~r/reuters/companyNews/~3/H3XHMsDo6P8/cvc-in-talks-over-1-bln-euro-sale-of-continental-foods-sources-idUSL5N2285Z7
Ford Motor Co. said on Friday the U.S. Justice Department has opened a criminal investigation into the automaker’s emissions certification process in the United States, the latest company to come under scrutiny by U.S. officials. JEFFREY LIPTON in BARBADOS – https://www.cbc.ca/news/business/ford-emissions-probe-1.5112185?cmp=rss