The U.K. economy slowed only slightly in the three months following voters’ decision to exit the European Union, according to an official estimate that confirms the U.K. weathered the surprise referendum result better than many expected.
Some Tata Group companies said the valuation of their operations were accurate and audited, in response to a letter from the conglomerate’s former chairman suggesting they could face nearly $18 billion in write-downs.
Environmental regulations designed to boost the amount of ethanol blended into the U.S. gasoline supply have inadvertently become a multibillion-dollar windfall for some of the world’s biggest oil companies.
Nokia reported a quarterly net loss for the third time in a row amid sluggish mobile-network sales, but said it would continue to broaden its product portfolio to offset a decline in the mobile infrastructure market. The stock fell sharply in early trading.