Latest Business News: BlackBerry Narrows Q1 Loss, but Results Disappoint

BlackBerry may have shown a bit of progress in sales of its new smartphones, but its loss left many surprised and disappointed. The company posted a loss of $84 million, or 16 cents a share in the fiscal first quarter. The price of oil rose as the U.S. economic outlook brightened and concerns eased about a credit crunch in China. Britain has kicked off the process of appointing advisors for the sale of its shares in Lloyds Banking Group and Royal Bank of Scotland , asking investment banks to submit proposals by July 8th.
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