Business & Financial News, U.S & International Breaking News

Chinese technology giant Huawei said on Friday the impact of U.S. trade restrictions on its business will be less than what it initially feared, though the curbs could push its smartphone unit's revenue lower by about $10 billion this year.

China will soon unveil a plan to impose retaliatory tariffs on certain U.S. products, the editor in chief of China's Global Times newspaper said.

World stock markets and the dollar rose on Friday as investors looked to a speech by Federal Reserve chair Jerome Powell for clarification on whether the U.S. central bank remains on course to deliver another interest rate cut in next month.

The case of ex-"Empire" actor Jussie Smollett, who sparked a firestorm in Chicago by reporting a racist attack authorities have ruled a hoax, returns to court on Friday, when local media say a judge may tap a special prosecutor to review the case.

Peppa Pig-owner Entertainment One's shares rose more than 30% to a record high on Friday, surpassing the price agreed by the company's board with U.S. toy maker Hasbro Inc in a sign that investors see some chance of a counter offer.

North Korea's top diplomat said on Friday that U.S. Secretary of State Mike Pompeo was a "diehard toxin" who only complicates denuclearisation talks and North Korea was ready for both dialogue and standoff.