Month: July 2018

Qualcomm Inc walked away from a $44 billion deal to buy NXP Semiconductors after failing to secure Chinese regulatory approval, becoming a high profile victim of a bitter Sino-U.S. trade spat.

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Germany welcomed an initiative agreed between U.S. President Donald Trump and the head of the European Commission to ease the threat of a trade war and shares rose on the news, but business groups urged the two sides to back up their words with deeds.

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Britain welcomed an initiative agreed between U.S. President Donald Trump and European Commission President Jean-Claude Juncker to cut trade barriers, easing the threat of a transatlantic trade war.

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NXP Semiconductors NV, whose buyout deal with U.S. chipmaker Qualcomm Inc fell through due to lack of approval from China, said on Thursday it would buy back $5 billion worth of shares.

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European stocks opened much higher on Thursday, pushing world stocks to new four-month highs after the European Union and the United States agreed to negotiate on trade, easing some of the fears of a transatlantic trade war.

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Germany’s VDA automotive association welcomed on Thursday an agreement between the EU and the United States to take steps to ease the threat of a transatlantic trade war, saying it offered a real opportunity to avert further tariffs.

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Toyota Motor Corp is doubling down on its investment in hydrogen fuel cell vehicles, designing lower-cost, mass-market passenger cars and SUVs and pushing the technology into buses and trucks to build economies of scale.

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Mexico’s second-largest bank Grupo Financiero Banorte has laid off some 500 employees from recently acquired Grupo Financiero Interacciones, or about half of the specialist government lender’s workforce, with more job cuts to come, two people with knowledge of the matter said.

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China’s commerce ministry declined on Thursday to comment on whether or not Qualcomm Inc’s deal to buy NXP Semiconductors had been approved, after a deadline for approving the deal passed without an announcement, and with Qualcomm having said it would drop its bid for the Dutch firm.

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Germany’s BDI industry association welcomed the outcome of talks between U.S. President Donald Trump and European Commission President Jean-Claude Juncker on trade as a sign of de-escalation but added that action must follow the words.

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German ministers welcomed an initiative agreed between U.S. President Donald Trump and European Commission President Jean-Claude Juncker to ease the threat of a trade war, with one describing it as a breakthrough and another saying it had won the EU time.

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Asian shares inched up n Thursday as the United States and Europe agreed to negotiations to ease barriers on trade, but weakness in China markets underscored persistent worries about the outlook for global growth.

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German Foreign Minister Heiko Maas welcomed an initiative agreed between U.S. President Donald Trump and the European Commission President aimed at easing a transatlantic trade war, saying it made a positive result more likely and had won the EU time.

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