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World stocks hold near 16-month highs after strong week

LONDON World stocks held near 16-month highs on Friday, set for a strong weekly gain, while the euro fell further after the European Central Bank’s decision to extend its stimulus program.

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Recent Business News

American Airlines raises fourth-quarter unit revenue forecast

American Airlines Group Inc raised its current-quarter forecasts for pre-tax margin and a key profitability metric, citing an improvement in average fares.

8:33am EST

Coca-Cola says CEO Muhtar Kent to step down in May

Coca-Cola Co said Chief Executive Muhtar Kent will be replaced by Chief Operating Officer James Quincey, effective May 1, 2017.

9:01am EST

Saudis order oil cuts to U.S., Europe ahead of non-OPEC talks

SINGAPORE/TOKYO/DUBAI Saudi Arabia has told its U.S. and European customers it will reduce oil deliveries from January as Russia signaled that a commitment from non-OPEC producers to join OPEC's output limits still faced challenges.

Russia, Saudi Arabia 7:36am EST

EU launches new investigation into Chinese steel imports

BRUSSELS The European Union has launched a new investigation into whether Chinese manufacturers are selling steel into Europe at unfairly low prices, a case Beijing said it viewed with deep concern.

6:17am EST

Pernod further expands in craft spirits with Smooth Ambler deal

PARIS Pernod Ricard , the world's second-largest spirits group, has agreed to buy a majority stake in Smooth Ambler Spirits, the U.S. maker of Old Scout bourbon and Greenbrier gin, further strengthening its portfolio of premium craft spirits.

6:38am EST

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