Oil prices rose on Friday and settled with their biggest weekly gains in over a year on the mounting threat of a region-wide war in the Middle East, although gains were limited as US President Joe Biden discouraged Israel from targeting Iranian oil facilities.

US manufacturing activity contracted for a sixth straight month in September, according to survey data released Tuesday, with demand remaining weak and new export orders slumping.

The US Federal Reserve cut its key lending rate by half a percentage-point Wednesday in its first reduction for more than four years, sharply lowering borrowing costs shortly before November’s presidential election.

The United States locked in tariff hikes on billions of dollars worth of Chinese goods Friday, with a 100 percent duty on electric vehicles and 25 percent on EV batteries taking effect in two weeks.

US presidential hopefuls Kamala Harris and Donald Trump clashed on China and economic issues Tuesday, with the Democratic candidate saying he “sold us out” on China while the former president declared “they’ve destroyed the economy.”

US hiring bounced back in August but missed expectations while the jobless rate crept down, government data showed Friday, paving the way towards central bank rate cuts in the coming weeks.

Kamala Harris’s price gouging policy has been criticized by economists and analysts, who say it is an uncompetitive proposal that could end up hurting, and not helping, US consumers.

The European Commission said Tuesday it plans to slap five-year import duties of up to 36 percent on Chinese electric cars, unless Beijing can offer an alternative solution to the damaging trade row over state subsidies.

Bangladesh’s dependence on the US for soybeans has been increasing, particularly after the outbreak of the Russia-Ukraine war, with local traders, millers and conglomerates diversifying their sourcing for uninterrupted supply of edible oil and animal feed.

More Japanese companies believe a Kamala Harris presidency in the US would be better for their businesses than a second Donald Trump administration, a Reuters survey showed on Thursday, reflecting the respondents concerns about protectionism and policy unpredictability.

Prospects for the US economy appear to be flagging with slower growth expected in the coming months, as November’s presidential election and inflation contribute to uncertainty, the Federal Reserve said Wednesday.

US job gains eased slightly in June while unemployment edged up, government data showed Friday, in a sign that the world’s biggest economy is cooling steadily as policymakers hope.

US manufacturing activity edged lower in June, deepening a recent slump on continued weak demand, according to industry survey data published Monday.

The IMF said Thursday it expects the US economy to grow a bit more slowly than previously forecast, while praising the way it has remained “robust, dynamic, and adaptable to changing global conditions.”

US consumer confidence edged slightly lower in June amid rising concern about current and future business conditions, according to survey data published Tuesday.

Apple is talking to major rival Meta about integrating the Facebook parent company’s generative AI into its products, as it tries to catch up with rivals on artificial intelligence, the Wall Street Journal reported Sunday.

Tesla and opponents of Elon Musk’s compensation clashed on Friday over ways to resolve the legal quagmire that has engulfed the CEO’s $56 billion pay package and billions of dollars in potential legal fees generated by the case.

The United States added Japan to its “monitoring list” of major trading partners whose currency practices “merit close attention” on Thursday, while reaffirming that none had been designated as a currency manipulator.

The International Monetary Fund released $336 million as part of a bailout loan instalment for Sri Lanka despite delays in the crucial restructuring of its foreign debt, including to China, the Washington-based lender said Wednesday.

Away from the Microsoft and Googles of the world, a century-old industry -- oil and gas -- is hoping that generative artificial intelligence will make producing petroleum more efficient and easier on its workforce.