Oil prices down on swelling U.S. stockpiles, demand concerns
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 owner Greybull: We worked hard to keep it alive
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.
UK has agreed an indemnity for British Steel receiver: PM May
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.
British Steel is open to new buyers: UK business minister
British Steel, which was forced into liquidation on Wednesday after failing to secure an emergency government loan, is open to new buyers, business minister Greg Clark said on Wednesday.
Lowe’s cuts full-year profit forecast as higher costs hurt first quarter
Lowe’s Cos Inc cut its full-year profit forecast and reported disappointing first-quarter earnings on Wednesday, as higher costs and a push to catch up with larger rival Home Depot dented margins, sending its shares down 9%.
U.S. judge rules Qualcomm practices violate antitrust law
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 quarterly results trounce estimates on higher online sales
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.
Huawei unwanted: Asian shops shun phone trade-ins on Google suspension worries
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.
Exclusive: Behind Grindr’s doomed hookup in China, a data misstep and scramble to make up
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 se…
British Steel goes into liquidation after failing to secure loan
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.
