Market News

  1. Wall Street stocks sold off sharply on Friday, with all three major U.S. stock indexes posting their biggest one-day percentage declines since Jan. 3, as weak factory data from the United States and Europe led to an inversion of U.S. Treasury yields, fueling fears of a global economic downturn.
  2. Lawyers for Elon Musk said on Friday that the U.S. Securities and Exchange Commission had failed to satisfy its heavy burden of showing that the Tesla Inc chief executive should be held in contempt of court.
  3. Indonesian airline Garuda plans to cancel a $6 billion order for Boeing 737 MAX jets because some passengers say they would be frightened to board the plane after two fatal crashes, although industry analysts said the deal was already in doubt.
  4. The chairman of U.S. House Transportation and Infrastructure Committee Peter DeFazio on Friday urged current or former Boeing Co and Federal Aviation Administration employees to come forward with any information about the government's aircraft certification program.
  5. Boeing Co has been awarded a $4.1 billion U.S. defense contract related to the expansion and improvement of the ground-based midcourse missile defense system, the Pentagon said on Friday.
  6. Pinterest Inc, the owner of the image search website known for the food and fashion photos that its users post, filed for an initial public offering with U.S. regulators on Friday, looking to tap into a red-hot market for new stock offerings.
  7. Mike Lynch, once hailed as Britain's answer to Bill Gates, faces Hewlett-Packard (HP) in London's High Court on Monday in a multi-billion dollar showdown over the U.S. technology company's 2011 purchase of the Autonomy software business he founded.
  8. U.S. prosecutors on Friday added three new criminal charges to their indictment against British entrepreneur Mike Lynch related to the $11.1 billion sale of his software company Autonomy to Hewlett-Packard in 2011.
  9. Czech search engine Seznam urged Google on Friday to disclose more details about its plan to boost rival search apps in Android smartphones, saying it continued to lose users due to what it said were Google's anti-competitive practices.
  10. Stocks around the world fell and U.S. Treasuries yields sent warning signals for a possible recession on Friday after weaker-than-expected U.S. and European data intensified fears of a global economic slowdown.
  11. The European Commission will next week urge EU countries to share more data to tackle cybersecurity risks related to 5G networks but will ignore U.S. calls to ban Huawei Technologies, four people familiar with the matter said on Friday.
  12. U.S. markets received a clear warning of coming recession on Friday when the spread between yields on three-month Treasury bills and 10-year notes fell below zero for the first time since 2007 after U.S. manufacturing data missed estimates.
  13. U.S. manufacturing activity unexpectedly cooled in March, a troubling sign for the economy although the housing market showed signs lower interest rates were giving it a boost.
  14. Pizza chain Papa John's International Inc, trying to recover from a string of high-profile public relations blunders, on Friday named former basketball star Shaquille O'Neal as its newest board member, brand ambassador and investor.
  15. JPMorgan Chase & Co is testing neuroscience-based video games to help recruit interns, as it seeks to increase the diversity of its workforce by broadening its candidate pool.
  16. Manufacturers in Europe, Japan and the United States suffered in March as surveys showed trade tensions had left their mark on factory output, a setback for hopes the global economy might be turning the corner on its slowdown.