Reuters Before the Bell: Futures dip on reports U.S. to target another Chinese firm

Click to View in Browser Wednesday, May 22, 2019 Futures dip on reports U.S. to target another Chinese firm 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 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. 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. 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. 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. 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. 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%. 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. Related Video UK economy: benign inflation data fails to offset sterling's Brexit woes Britain's M&S shows pain of latest turnaround with 10% profit fall Make sense of the market with highlights of valuable financial information and reports along with compelling investment insights. Register Today The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today » » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2019 Thomson Reuters Ensure delivery of Reuters Newsmails, add newsletters@email.reuters.com to your address book. Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook