U.S. President Donald Trump will make a trade announcement about the European Union later on Friday, according to a notice from the White House issued late on Thursday night. Reuters
A ratcheting up of trade tensions between the US and China triggered a steep sell-off in stocks and a rush of haven buying of government bonds on Friday as fears deepened about the threat posed by the dispute to global growth. Financial Times
As a result, China’s yuan fell Friday to its lowest level this year against the dollar following President Donald Trump’s threat of new tariffs on Chinese goods, coming close to breaking the politically sensitive level of seven to the U.S. currency. Market Watch
Shares in Ferrari went into reverse on Friday as the Italian luxury carmaker failed to lift its guidance for 2019 despite strong results in the first part of the year. Reuters
Toyota Motor Corp lowered its annual profit forecast while Honda Motor Co turned in a double-digit decline in quarterly earnings as a resurgent yen hurt two of Japan’s biggest automakers. Reuters
South Korea fired back at Japan over a deepening trade dispute on Friday, pledging it would not be “defeated again” by its neighbor, laying bare decades-old animosity at the root of a row over fast-track export status. Reuters / CNN
