UK PM May should stand down without delay – senior Conservative

LONDON, May 22 (Reuters) – Tom Tugendhat, a Conservative lawmaker tipped by some as a possible future party leader, on Wednesday called on British Prime Minister to stand down because her attempt to deliver Brexit has “comprehensively failed.” “There is one last chance to get it right and leave in an orderly fashion. But it is now time for Prime […]

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U.S. Existing Home Sales Unexpectedly Dip 0.4% In April

Existing home sales in the U.S. unexpectedly showed a modest decrease in the month of April, according to a report released by the National Association of Realtors on Tuesday. NAR said existing home sales dipped by 0.4 percent to an annual rate of 5.19 million in April after plunging by 4.9 percent to a rate of 5.21 million in March. […]

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UPDATE 2-Slow loan growth, higher provision eat into CIBC quarterly profit

(Adds background on mortgage regulations, trading revenue) May 22 (Reuters) – Canadian Imperial Bank of Commerce missed quarterly profit estimates on Wednesday, as sluggish loan growth and higher loan loss provisions in retail banking more than offset gains in its capital markets business. Higher interest rates help Canadian banks earn more money, but it also crimps borrowers’ ability to take […]

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British Steel is open to new buyers- UK business minister

LONDON, May 22 (Reuters) – 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. “It is open to new buyers,” he told Sky News. (Reporting by Costas Pitas; editing by Stephen Addison) Source: Read Full Article

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UPDATE 1-Rail ticketing service Trainline plans London float

(Adds details, quote) LONDON, May 22 (Reuters) – Britain’s Trainline said on Wednesday it planned to float the online rail and coach travel platform in London to increase its profile and tap into the growing demand for e-ticketed travel across Europe. Founded more than 20 years ago, the British company sells tickets from 220 rail and coach carriers across 45 […]

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PRESS DIGEST- New York Times business news – May 22

May 22 (Reuters) – The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy. – The union representing about 2,500 Southwest Airlines mechanics voted overwhelmingly on Tuesday to ratify a new contract proposal, ending a labor impasse that lasted nearly seven years and wound […]

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Britvic 28-week Pre-tax Profit Rises; Hikes Interim Dividend

Britvic plc (BVIC.L) on Wednesday reported profit before tax of 45.2 million pounds for the 28 weeks ended 14 April 2019, up from 41.8 million pounds in the previous-year period. Profit after tax for the period increased 4.8 percent to 34.9 million pounds from 33.3 million pounds in the year-ago period. Earnings per share were 13.2 pence, up from 12.6 […]

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Urban Outfitters Inc. Reports Drop In Q1 Earnings

Urban Outfitters Inc. (URBN) revealed earnings for first quarter that fell from the same period last year. The company’s profit came in at $32.58 million, or $0.31 per share. This compares with $41.26 million, or $0.38 per share, in last year’s first quarter. Analysts had expected the company to earn $0.25 per share, according to figures compiled by Thomson Reuters. […]

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