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U.S. stocks rise on tech gains, oil rebound

U.S. stocks were higher in early afternoon trading on Friday, with the Nasdaq set to post its first weekly gain in three weeks, helped by gains in technology stocks and a rebound in oil prices.

Recent Business News

Canada's CIBC completes $5 billion PrivateBancorp buy

TORONTO Canadian Imperial Bank of Commerce has completed the $5 billion acquisition of Chicago-based PrivateBancorp , which will help it diversify from its domestic market, it said on Friday.

9:14am EDT

Official urges limited Fed role in addressing U.S. inequality

CLEVELAND The Federal Reserve cannot directly address the problems of inequality, globalization and the challenges facing lower-income Americans, a Fed official said on Friday, though it can help identify solutions for legislators to take up.

12:46pm EDT

Are you being served? Planemakers alter sales pitch to boost profit

PARIS Airbus and Boeing leave this week's Paris Airshow with plans for ambitious growth in aviation services, as flattening demand for new jets and pressure to raise profit margins encourages planemakers to deepen their exposure to airline operations.

12:39pm EDT

Ford's China move casts new cloud on Mexican carmaking

MEXICO CITY A second U-turn this year by Ford Motor Co in Mexico has raised the specter of Chinese competition for local carmaking, adding to pressure on the industry after repeated threats by U.S. President Donald Trump to saddle it with punitive tariffs.

11:55am EDT

Policy ponder: central banks head for the Portuguese hills

LONDON The cool shade of the hills above Lisbon will offer leading central bankers an escape from the summer heat in the coming week, but there is little they can do to get away from their differing monetary policy conundrums.

11:14am EDT

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