Business

U.S. crude oil shipments to China will rise sharply in coming weeks, U.S. traders and shipbrokers and Chinese importers said, as the world's top economies gear up to review a January deal after a prolonged trade war.

A review of the U.S.-China trade deal initially slated for Saturday will be delayed due to scheduling issues and no new date has been agreed, according to sources familiar with the plans.

The United States is tying payments for COVID-19 vaccines to timing milestones for production and approval, according to public documents and a Trump administration official, putting pressure on drugmakers including Moderna Inc to meet ambitious targets.

Facebook Inc said on Friday that Apple Inc has declined its request to waive off the 30% commission fee it takes from apps listed on iOS devices, publicly critiquing a fellow big tech peer.

Even with nearly a fifth of the labor force collecting unemployment benefits in July, Americans continued spending with relative gusto, driving retail sales back to pre-coronavirus levels as they shifted shopping online, brought their food home, and stocked up on new appliances.

Shares of German biotechnology firm CureVac BV soared as much as 222% after their Nasdaq debut on Friday, in the first stock market opening of a company developing a potential vaccine to combat the novel coronavirus.