HONG KONG/SHANGHAI (Reuters/IFR) – Chinese smartphone maker Xiaomi has lowered its likely valuation to between $55 billion and $70 billion following its decision to delay its mainland share offering until after its Hong Kong IPO, three sources with direct knowledge of the matter said.
MUNICH (Reuters) – Audi’s board of directors will resume talks on Tuesday to address a leadership crisis at Volkswagen’s most profitable brand, sources familiar with the matter said, following Audi chief Rupert Stadler’s arrest.
SHANGHAI/HONG KONG (Reuters/IFR) – Chinese smartphone maker Xiaomi has lowered its likely valuation to between $55 billion and $70 billion following its decision to delay its mainland share offering until after its Hong Kong IPO, three sources with direct knowledge of the matter said.
ZURICH/LONDON (Reuters) – Swiss drugmaker Roche is paying $2.4 billion to buy the rest of Foundation Medicine (FMI) , raising its bet on the U.S. genomic profiling group’s ability to personalize cancer care.
(This version of the story has been refiled to add dropped word “boards” in paragraph one.)
TOKYO (Reuters) – Asian stocks sank on Tuesday and Shanghai shares tumbled to near two-year lows as U.S. President Donald Trump threatened new tariffs on Chinese goods in an escalating tit-for-tat trade war between the world’s two biggest economies.
President Donald Trump is searching for more China-made goods to tax. As the U.S. president threatens tariffs on an additional $200 billion in Chinese imports, he may find it difficult to spare electronic goods, clothing and textiles that account for half of all Chinese exports to the U.S. Last week, Trump’s $50 billion hit list of made-in-China goods largely focused on high-technology industries such as robotics, aerospace and cars. “They will focus on electronics,” said Fielding Chen at Bloomberg Economics. …read more […]
ZURICH (Reuters) – Swiss drugmaker Roche Holding AG has agreed to pay $137 per share to buy the rest of Foundation Medicine (FMI) , a $2.4 billion transaction that values the U.S. genomic profiling group at $5.3 billion, the partners said on Tuesday.
TOKYO (Reuters) – A sell-off in Chinese stocks drove Asian equities to a four-month low on Tuesday, as U.S. President Donald Trump threatened new tariffs on Chinese goods in an escalating tit-for-tat trade war between the world’s two biggest economies.
HOUSTON (Reuters) – Major U.S. energy companies including Plains All American Pipeline , Hess Corp and Kinder Morgan Inc are among many seeking exemptions from steel-import tariffs as the United States ratchets up trade tensions with exporters including China, Canada and Mexico.
WASHINGTON/BEIJING (Reuters) – U.S. President Donald Trump threatened to impose a 10 percent tariff on $200 billion of Chinese goods, prompting a swift warning from Beijing of retaliation, as the trade conflict between the world’s two biggest economies quickly escalated.
On Friday, Trump said he planned to push ahead with tariffs on $50 billion worth of Chinese imports. While chips were largely spared from the initial list of targeted goods released in April, U.S. trade officials on Friday released a second tariff list of 284 products worth $16 billion that includes the processor and memory chips at the heart of Intel’s business. …read more […]
BERLIN (Reuters) – Too slow, inflexible, forgetful, always off sick. Those are some attitudes about older workers that carmaker Mercedes-Benz is trying to dispel as Germany grapples with the challenges of an aging society.
SYDNEY (Reuters) – An Australian court fined U.S. electronics giant Apple Inc A$9 million ($6.7 million) on Tuesday after a regulator accused it of using a software update to disable iPhones which had cracked screens fixed by third parties.
HONG KONG (Reuters) – Shares of ZTE Corp plunged on Tuesday after the U.S. Senate’s passage of a defense bill set up a potential battle with the White House over whether the Chinese telecoms firm can resume business with its U.S. suppliers.
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