A senior U.S. diplomat on Friday backed gas exploration off Cyprus, as ExxonMobil and Qatar Petroleum started drilling despite opposition from Turkey.

Ankara has warned international firms against exploration in the disputed waters off the Mediterranean island, but Cyprus has pushed ahead with energy deals.

French Economy Minister Bruno Le Maire on Friday urged an end to the "Cold War in trade" between the United States and China, warning the world was just a step away from a globally destructive, full-blown trade conflict.

"Today we are in a Cold War in trade between the United States and China which is dangerous for our economy, our growth and our jobs. We must get out of it," Le Maire told a conference in Paris on reforming the global trading system.

The pound rebounded slightly Friday after Britain's currency was hammered by Brexit fears, while stock markets diverged and oil prices rallied once more.

Efforts by courts to impose diesel driving bans are "self-destructive" and put German prosperity at risk, the transport minister warned Friday, as tempers flared in the battle against urban air pollution.

Iran's newspapers on Thursday said the execution of two financial traders was a "clear message" to others seeking to "disrupt" the country's economy.

Vahid Mazloomin, dubbed the "Sultan of Coins", and his accomplice Mohammad Esmail Ghasemi, were both executed less than a month after being convicted of "corruption on earth" -- one of Iran's most serious charges.

Wall Street opened in the red on Thursday, extending a streak of losses for the Dow to five days as investors digested a mixed bag economic and political news.

Before the open, manufacturing surveys showed criss-crossing results in the New York and Philadelphia regions while volatile auto and gasoline sales gave the retail sector a healthy boost.

Amazon is extending its dominance in US e-commerce, but Walmart is seeing strong gains and is poised to become the number three online retailer, a market tracker said Thursday.

Emirates Airline reported on Thursday an 86 percent drop in its half year results due to a hike in oil prices, the company said in a statement.

The pound plunged against the dollar and euro Thursday after ministers, including Britain's Brexit secretary Dominic Raab, quit in protest against a draft deal to exit the EU.

Qatar's economy is growing despite a bitter trade and diplomatic rift with neighboring former allies, the IMF said Wednesday after a week-long visit to the Gulf state.