TOKYO - Asian shares inched higher on Friday but were on track for a weekly loss, while the dollar edged away from highs scaled after U.S. GDP data reinforced expectations that the Federal Reserve is on track to raise interest rates this year.
Recent Business News
- Amgen Inc on Thursday reported higher-than-expected second-quarter profit and revenue, helped by strong sales of its Enbrel rheumatoid arthritis drug and cost cutting, and the company raised its full-year forecasts.
WASHINGTON - U.S. economic growth accelerated in the second quarter as solid consumer spending offset the drag from weak business spending on equipment, suggesting a steady momentum that could bring the Federal Reserve closer to hiking interest rates this year. | Video
BOSTON/NEW YORK - Paul Singer's $27 billion hedge fund Elliott Associates is worried about Europe's prospects and is bracing for fresh market turbulence.
- Online ride hailing service Uber Technologies Inc [UBER.UL] is set to invest $1 billion in India, which will bring its investment on par with that in China, the Financial Times reported.
WASHINGTON - General Electric Co is taking steps to shift some U.S. manufacturing work overseas now that the U.S. Export-Import Bank will be shuttered at least until September, the industrial giant's global operations boss told Reuters on Thursday.