Business & Finance News
U.S. Treasury Secretary Steven Mnuchin on Wednesday urged Congress to raise the U.S. debt ceiling as soon as possible, saying the U.S. government was expected to exhaust its borrowing authority around late summer.
British chip designer ARM has halted relations with Huawei [HWT.L] in order to comply with a United States blockade of the company, potentially crippling the Chinese company’s ability to make new chips for its future smartphones.
Huawei said it was confident it could resolve the situation that has seen its chip design partner ARM suspend collaboration after the United States said it could block the Chinese company’s access to U.S. technology.
Qualcomm Inc illegally suppressed competition in the market for smartphone chips by threatening to cut off supplies and extracting excessive licensing fees, a U.S. judge ruled, a decision that could force the company to overhaul its business practices.
More than 100 public health and anti-tobacco organizations are calling on Facebook Inc, Instagram, Twitter and Snap Inc to take “swift action” to curb advertising of tobacco products on their platforms.
China’s Tencent Holdings Ltd is working with its U.S. unit Riot Games to develop a mobile version of “League of Legends”, the world’s most popular desktop-based game, three sources with knowledge of the matter told Reuters.
The U.S. Justice Department’s antitrust division staff has recommended the agency file a lawsuit to block T-Mobile US Inc’s $26 billion acquisition of smaller rival Sprint Corp, according to two sources familiar with the matter.
Britain’s competition watchdog said on Wednesday that Apple Inc has committed to be “clearer and more upfront” with iPhone users about battery health and performance, after the regulator looked into consumer concerns on the matter.
Qualcomm Inc used unlawful, anticompetitive practices to license patents for modems used in mobile phones, a judge has ruled in a case brought by the U.S. trade regulator, ordering it to renegotiate major deals and change how it does business.
Target Corp beat first-quarter estimates for same-store sales and profit on Wednesday, as the retailer’s investments in same-day delivery and store revamps drew in more shoppers, sending its shares up more than 7%.
The U.S. Justice Department’s Antitrust Division staff has recommended the agency sue to block T-Mobile US Inc’s $26 billion acquisition of smaller rival Sprint Corp, according to two sources familiar with the matter.
Commerzbank may refine its strategy and is still open to mergers following the collapse of talks with its larger rival Deutsche Bank, the lender’s chief executive said on Wednesday.
U.S. stock index futures dipped on Wednesday, as fears of a possible escalation in the trade war between the United States and China were rekindkled after reports that Washington could impose sanctions on another Chinese company.
Oil prices fell on Wednesday after industry data showed an increase in U.S. crude inventories and on demand concerns linked to a protracted trade war between China and the United States.
British Steel’s owner Greybull Capital said on Wednesday it had worked hard to keep Britain’s second largest steel producer alive but that the challenges of Brexit had proven insurmountable.
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