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

Wednesday 22 May 2019

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

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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.