Business News
U.S. Justice Department staff recommends blocking T-Mobile-Sprint deal, sources say5/22/2019 1:43:01 PM 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.U.S. judge says Qualcomm violated antitrust law; appeal planned, shares plunge5/22/2019 1:40:44 PM 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.Wall Street opens lower on worries of escalating trade war5/22/2019 1:39:12 PM U.S. stocks opened lower on Wednesday, as reports that Washington could impose sanctions on another Chinese company raised fears of an escalation in trade tensions, with the S&P 500 also dragged down by losses in chipmaker Qualcomm and home improvement chain Lowe's.Citing Reuters report, health groups push tech firms to police tobacco marketing5/22/2019 1:32:45 PM 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.Apple more upfront with iPhone users on battery health: UK watchdog5/22/2019 1:30:23 PM 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.After Huawei, U.S. could blacklist Chinese surveillance tech firm: media5/22/2019 12:59:01 PM The U.S. administration is considering Huawei-like sanctions on Chinese video surveillance firm Hikvision, media reports show, deepening worries that trade friction between the world's top two economies could be further inflamed.Exclusive: Tencent and Riot Games developing mobile version of League of Legends -sources5/22/2019 12:58:18 PM 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.British Steel falls into liquidation after failing to secure funding5/22/2019 12:41:17 PM 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.China's big three airlines seek Boeing compensation over 737 MAX grounding5/22/2019 12:18:01 PM 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.Same-day deliveries, store revamps drive Target's strong results5/22/2019 12:14:15 PM 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%.Exclusive: Behind Grindr's doomed hookup in China, a data misstep and scramble to make up5/22/2019 11:59:32 AM 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.Commerzbank open to M&A after Deutsche Bank talks collapse5/22/2019 11:58:41 AM 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.Oil prices down on swelling U.S. stockpiles, demand concerns5/22/2019 11:54:06 AM 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 alive5/22/2019 11:25:32 AM 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 May5/22/2019 11:24:41 AM 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.Huawei unwanted: Asian shops shun phone trade-ins on Google suspension worries5/22/2019 11:18:53 AM 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 is open to new buyers: UK business minister5/22/2019 11:16:22 AM 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 quarter5/22/2019 11:11:09 AM 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%.French government: Ascoval rescue deal not impacted by British Steel woes5/22/2019 10:50:08 AM A rescue deal for the Ascoval steel plant in northern France is not impacted by the current woes at British Steel since the Ascoval transaction involves another unit of British Steel not impacted by the liquidation process, said the French government.In Fed policy review, labor may finally win out over inflation5/22/2019 10:42:33 AM At 2.3 percent, Minneapolis' jobless rate seems impossibly low, even with national unemployment at a 50-year trough.