Business & Finance News
Britain has granted an indemnity to the official receiver handling the collapse of British Steel, the country’s second largest steel producer, Prime Minister Theresa May said on Wednesday.
Qualcomm Inc unlawfully suppressed competition in the market for cellphone chips and used its dominant position to impose excessive licensing fees, a U.S. judged ruled, sending the company’s shares down 13 percent in pre-market trade.
Target Corp’s same-store sales and profit for the first quarter beat Wall Street estimates on Wednesday, benefiting from higher online sales and an increase in shoppers at its stores, sending its up nearly 8% in early trading.
Mobile phone retailers in some Asian countries are refusing to accept Huawei devices for trade-ins, as more consumers look to offload their device on worries Google suspending business with the Chinese firm will disrupt services.
British Steel, the country’s second largest steel producer, has collapsed after failing to secure emergency government funding, jeopardising some 25,000 jobs, Britain’s Official Receiver said on Wednesday.
Home improvement chain Lowe’s Cos Inc cut its full-year profit forecast on Wednesday and reported disappointing first-quarter earnings, hurt by higher costs that dented margins, sending its shares down 8%.
Google is complying with an EU order to boost competition in online shopping, Europe’s antitrust chief said on Wednesday, brushing aside complaints from rivals demanding more regulatory action.
Early last year, Grindr LLC’s Chinese owner gave some Beijing-based engineers access to personal information of millions of Americans such as private messages and HIV status, according to eight former employees, prompting U.S. officials to ask it to sell the dating app for the gay community.
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.
Global stocks were slightly lower on Wednesday as investors sought safety in bonds, the Japanese yen and Swiss franc in muted trade amid renewed worries over the U.S.-China spat after reports Washington has another Chinese tech firm in its sights.
British Steel, the country’s second largest steel producer, will be placed into administration as early as Wednesday, Sky News reported, jeopardizing some 25,000 jobs.
British Steel will be placed into administration as early as Wednesday, Sky News’s Mark Kleinman said.
China’s three biggest airlines have asked U.S. planemaker Boeing Co to compensate them for losses caused by the grounding and delayed deliveries of 737 MAX jets, just as regulators gather to discuss design changes for the troubled aircraft.
Commerzbank may tweak its strategy following the collapse of merger talks with its larger rival Deutsche Bank, the lender’s chief said on Wednesday.
The situation at British Steel, which is on the brink of collapse unless the government agrees to provide an emergency 30 million pound ($38 million) loan, is “very difficult”, Britain’s environment minister said on Wednesday.
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