Lowe’s Cos Inc cut its full-year profit forecast after reporting disappointing first-quarter earnings, as the home improvement chain failed to raise prices in time to make up for higher costs, sending its shares down 9%.
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.
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.
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.
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.
Further weakness in inflation could prompt the U.S. Federal Reserve to cut interest rates, even if economic growth maintains its momentum, James Bullard, President of the Federal Reserve Bank of St. Louis, said on Wednesday.