Today’s top business headlines before the opening bell on Wall Street: - Kudlow slams Green New Deal during CPAC - US economy grew at solid pace in Q4 - Tesla debuts $35,000 Model 3 - Gap and Old Navy are splitting up
London 1. A boost for Chinese markets: Chinese stocks finished the week on a positive note after the Trump administration shelved its threat to sharply increase tariffs on $200 billion of Chinese exports.
The tariffs on Chinese goods had been set to rise from 10% to 25% on Saturday. But US trade officials said in a statement Thursday they would file documents to suspend the hikes"until further notice."The Shanghai Composite gained 1.8% on Friday, while the smaller, tech-heavy Shenzhen Composite added 1.2%.There was also some positive economic data out of China, where an unofficial gauge of manufacturing activity rebounded in February. Still, economists warn the bounce may be temporary.
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Gap to split itself, restructure Gap brand; stock jumps
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Gap to separate Old Navy brand, close stores; shares soar 25 percentGap Inc will separate its better-performing Old Navy brand and shutter about 230...
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Gap to spin off Old Navy as a stand-alone companyOld Navy’s business model and customer base have diverged from the Gap’s other specialty brands, executive says.
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Gap will split into two publicly traded companies, with Old Navy as a stand-alone; stock surges
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Old Navy splits off from GapGap Inc announced plans Thursday to create two independent publicly traded companies.
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Gap Inc.Gap Inc. stock price, stock quotes and financial overviews from MarketWatch.
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