Having traded lower most of Friday, the S&P 500 finished in the red and clocked its steepest weekly drop in six weeks amid a sell-off in bond proxies over the week.

It’s not just the Turkish lira and the Argentine peso that are feeling the heat from a resurgent dollar and higher bond yields.

The IMF offered another endorsement of the Argentine government’s economic reform plan as it continues to negotiate the terms of a bailout for the country.*

Campbell Soup is on track for its worst one-day drop in over 19 years on Friday following a profit warning and the abrupt departure of its chief executive.

AstraZeneca suffered a significant revolt over the pay of its chief executive Pascal Soriot on Friday, when about 35 per cent of shareholders at its annual meeting voted against its remuneration report.

Wall Street continued its week long struggle for direction on Friday, with the S&P 500 eyeing its biggest weekly drop in six, while Treasuries yields slipped.

BMW is recalling close to 300,000 cars in the UK because of a fire risk, the second safety recall in Britain from the German carmaker in the space of two weeks.

Russian oligarch Oleg Deripaska has resigned from the board of EN+ in the first step towards following through on a vow to distance himself from control of his sanction-hit companies.

The Canadian dollar took a hit on Friday after the latest round of inflation and retail sales data beat back some expectations that Canada’s central bank would step up the pace of its interest rate hikes.

Lloyds Banking Group faces a potential shareholder revolt over its pay report at its annual meeting next week after chief executive António Horta-Osório received an 11 per cent rise to take his total pay to £6.2m.

Italian bonds took a further shift downwards on Friday afternoon amid hectic trading, with 10-year debt hitting a yield of 2.23 per cent for the first time in seven months.

Steinhoff continues to pump out bad news, this time warning that it is likely to make a post-tax loss for the first half of this year.

Having traded up overnight, US equities sunk lower in early morning trading in New York with S&P 500 futures indicating that the benchmark index would open lower on Friday.

Shares in Glencore fell by their most in almost two years on Friday after a report said the miner may face a bribery probe by the UK’s Serious Fraud Office over its ties to Israeli billionaire Dan Gertler in the Democratic Republic of Congo.

Blackstone, the world’s largest buyout group, has agreed to sell its remaining stake in Hilton Worldwide, bringing to an end an 11-year period of ownership that was one of the most profitable private equity transactions ever.

Italian 10-year bonds have hit their weakest level since last October and equity markets have dipped amid high trading volumes as Italy’s populist parties reach a deal to govern the country together.

Baidu, China’s leading search engine, announced on Friday that its chief operating officer Qi Lu will step down from his role.

EU countries could make direct payments for oil to Iran’s central bank as part of effort to counter US sanctions in a move that sets up a potential conflict with Washington, as Europe battles to save the nuclear deal Tehran signed with world powers.

Malaysian police said they had seized 284 boxes of luxury handbags and more than 70 bags of jewellery from properties in the country’s capital as part of the new government’s probe into billions of dollars missing from the country’s 1MDB fund.

Shareholders of Nex Group have voted in favour to sell the UK trading and technology company to the US’s CME Group for £3.9bn.

The biggest shareholder in life insurer Just Group has sold its entire stake in the company.

Private equity firm Permira owned 18 per cent of Just, and sold the shares in a placing at 143p each, a discount of 5 per cent to the closing price on Thursday. The placing raised £237m.

The former Russian double agent Sergei Skripal has been discharged from Salisbury District Hospital, medical officials announced on Friday.

There is a lot of detail for investors to absorb within Italy’s coalition agreement that brings populist government to the eurozone’s third-biggest economy. So far, banks are taking the hit, dragging the main Milan stock index to its lowest level so far this month, and Italy’s sovereign debt yields are heading higher.

Italy’s anti-establishment Five Star Movement and the far-right League struck a deal on a common platform to bring a populist government to the eurozone’s third-largest economy, but have yet to agree on a prime minister.