Despite El Salvador being in what even President Salvador Sánchez Cerén has branded an “economic emergency”, all that glisters is not gold.

Fitch Ratings on Friday lifted its outlook on Russia’s credit rating to “stable” from “negative,” citing the country’s “coherent and credible policy response to the sharp fall in oil prices.”

US stocks edged lower this week as investors digested the first batch of third quarter corporate earnings.

Microsoft has started the clock on the last remaining competition hurdle to its $26bn purchase of LinkedIn.

Emerging market assets hit a rough patch this week as weak China data and the growing odds of an US interest rate increase this year sent investors piling into haven assets.

But the Mexican peso has been an exception, advancing some 1.5 per cent against the US dollar as some polls suggest that US Presidential candidate Hillary Clinton has regained her lead over Donald Trump.

Twitter’s stock fell sharply after the CEO of Salesforce.com, one of the final bidders thought to be pursuing a bid for the struggling internet site, took itself out of the running.

US stocks edged slightly further into the black in afternoon trading on Friday after Janet Yellen flagged up the benefits of running a “high-pressure economy” to dull the effects of a deep economic downturn, like the Great Recession.

The danger that serious downturns do lasting damage to an economy means policymakers need to act “aggressively” when responding to a major setback, the Federal Reserve chair said as she called for more research into a host of economic conundrums dogging central bankers around the world.

China’s Sparkle Roll has increased its stake in Bang & Olufsen to nearly 21 per cent, just months after the Danish maker of upmarket audio and television equipment ended takeover talks with it.

It’s that time again.

US consumer sentiment took a surprise hit in October as lower-earning Americans took a drearier view about the future with the presidential election looming weeks away.

The sigh of relief is palpable.

The Bank of England is not going to “take instruction” from politicians on its policies, governor Mark Carney has stressed, just over a week after UK prime minister Theresa May appeared to suggest that low interest rates were no longer desirable.

A group of private equity investors has bought Allegro, Eastern Europe’s largest e-commerce platform from South African media group Naspers for over $3bn, people with knowledge of the deal said.

New account openings have dropped sharply at Wells Fargo as the bank grapples with the fall-out from the scandal over fraudulent sales practices.

US stocks were off to the races on Friday, buoyed by better-than-expected earnings reports from several major banks, a rise in producer prices in China and a report showing US retail sales had increased last month after dropping in August.

US mining giant Freeport-McMoRan said it agreed to sell its onshore California oil and gas assets to private energy company Sentinel Peak Resources California for up to $742m.

Goldman Sachs has won a $1bn lawsuit brought against it by the Libyan Investment Authority (LIA) in a high profile legal case.

It has been a rough week for assets in some emerging markets, but JP Morgan Asset Management is staying bullish on EM bonds, and says this year’s strong performance won’t end any time soon.

The boss of Nissan has said he is “confident” the UK government will provide conditions allowing the company to invest in the UK after meeting with Theresa May, raising hopes that the Prime Minister may have left the door open to guarantee the company tariff-free access to the EU after a Brexit.

US retail sales recovered in September after a weak August, the latest indication that the American consumer growth remains a boon to the economy.

Profits have dipped at Wells Fargo for a fourth consecutive quarter, the latest sign of the squeeze ultra low interest rates are putting on lenders and a reminder that the sales scandal that toppled its chief executive is far from the only challenge facing the bank.

Navinder Singh Sarao, the British futures trader accused of contributing to the so-called stock market “flash crash” of 2010, is to face extradition to the US after losing a legal battle in the High Court.

Citigroup, one of the biggest US lenders, on Friday unveiled a slimmer than expected fall in quarterly profits and revenues amid strong results from its bond trading division.