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Wall St. slides as Huawei fallout hits tech shares

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NEW YORK (Reuters) – U.S. stocks slid on Monday as the White House’s restrictions on Chinese telecoms equipment maker Huawei Technologies Co Ltd weighed on the technology sector and raised concerns that the move would further inflame trade tensions between the United States and China. Since the White House added Huawei to a trade blacklist Read More

U.S. Commerce Department scales back restrictions on Huawei

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FILE PHOTO: The logo of Huawei is seen at the high profile startups and high tech leaders gathering, Viva Tech,in Paris, France May 16, 2019. REUTERS/Charles Platiau/File Photo (Reuters) – The U.S. Commerce Department on Monday created a temporary general license restoring Huawei’s ability to maintain existing networks and provide software updates to existing Huawei Read More

Worries of longer, costlier U.S.-China trade war hits markets

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WASHINGTON/BEIJING (Reuters) – Worries that the United States and China were digging in for a longer, costlier trade war weighed on financial markets on Monday as Beijing accused Washington of harboring “extravagant expectations” for a deal to end their dispute. Investors added up the costs of higher tariffs on Chinese and U.S. goods as well Read More

DOJ leans against approving T-Mobile’s takeover of Sprint: Bloomberg

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FILE PHOTO: A sign for a T-Mobile store is seen in Manhattan, New York, U.S., April 30, 2018. REUTERS/Shannon Stapleton/File Photo (Reuters) – The U.S. Department of Justice is leaning against approving T-Mobile US Inc’s proposed takeover of Sprint Corp as the remedies proposed by the companies do not resolve antitrust concerns, Bloomberg reported on Read More

U.S. Administration lifts Section 232 steel tariffs on Canada and Mexico, API responds

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5/20/2019 WASHINGTON — API released the following statement on the Administration’s decision to lift tariffs on steel and aluminum imports under Section 232 on Canada and Mexico: “We applaud the Administration for reaching an agreement with Canada and Mexico to lift the 25% steel tariffs and not replace them with harmful quotas that would stifle Read More

Exclusive: Elliott Management opposes airline Azul on Avianca Brasil bankruptcy plan

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SAO PAULO (Reuters) – U.S. hedge fund Elliott Management is opposing a new plan by Brazilian airline Azul SA to purchase some of the routes operated by financially troubled rival Avianca Brasil for $145 million, according to a legal document seen by Reuters. FILE PHOTO: An Airbus A318-100 airplane of Avianca Brazil flies over the Read More

US’s moves against Huawei will spur on new tech development in China

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Under pressure from the US government, Google suspended its product-sharing agreements and licenses with Chinese communications giant Huawei. But how badly will the move affect Huawei and what could it do to retaliate? The Trump administration last week banned US companies from selling to Huawei without a government license, significantly upping the ante in the Read More

Completion 2019 Share Repurchase Program

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May 20, 2019 SBM Offshore reports that it has completed its EUR175 million share repurchase program. Between February 14, 2019 and May 20, 2019 a total of 10,422,259 common shares were repurchased, at an average price of EUR16.79 per share. Further detailed information regarding all individual transactions can be accessed via the Investor Relations Center Read More

UK firms likely to scrap planned investment on a no-deal Brexit: BoE’s Broadbent

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LONDON (Reuters) – British companies are likely to cancel projects that they have put on hold because of Brexit uncertainty if the country leaves the European Union without a deal to smooth the shock, Bank of England Deputy Governor Ben Broadbent said on Monday. FILE PHOTO: The Canary Wharf financial district is seen at dusk Read More

T-Mobile’s deal for Sprint gets big boost from FCC chief

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WASHINGTON (Reuters) – T-Mobile US Inc’s $26 billion acquisition of rival Sprint Corp won the support of the head of the Federal Communications Commission on Monday, in a big step toward the deal’s approval. A sign for a T-Mobile store is seen in Manhattan, New York, U.S., April 30, 2018. REUTERS/Shannon Stapleton FCC Chairman Ajit Read More