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Qualcomm says China comment will not revive NXP deal

(Reuters) - U.S. chipmaker Qualcomm Inc (QCOM.O) said on Monday it was not looking to revive its abandoned $44 billion acquisition of Dutch peer NXP Semiconductors NV (NXPI.O), a day after the White House said China would reconsider clearing a deal if it was attempted again. Qualcomm, the world’s biggest smartphone-chip maker, walked away from its agreement to buy NXP in July, after failing to secure Chinese regulatory approval. The planned deal was first agreed between the two companies in October 2016. Qualcomm, headquartered in San Diego, California, and NXP, based in Eindhoven, the Netherlands, needed China’s blessing for their deal because of their presence in that…

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Relief rally boosts Wall Street on U.S.-China trade truce

(Reuters) - Wall Street’s major indexes rallied on Monday following a truce between the United States and China in their trade dispute, which has clouded the outlook for the stock market for much of the year. The benchmark S&P 500 .SPX climbed more than 1 percent, building off of its biggest weekly percentage gain in nearly seven years a week ago. Investors were lifted by news over the weekend that U.S. President Donald Trump and Chinese President Xi Jinping agreed during talks in Argentina to hold off on new tariffs for 90 days, declaring a truce following months of escalating tensions on trade and other issues. “Today…

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Britain’s May launches high-stakes parliamentary debate on Brexit plan

LONDON (Reuters) - Prime Minister Theresa May will urge parliament to back her Brexit deal on Tuesday at the start of a high-stakes five-day debate that could determine her fate and whether Britain leaves the European Union without a deal. FILE PHOTO: Britain's Prime Minister Theresa May addresses the media during the G20 Leaders Summit in Buenos Aires, Argentina December 1, 2018. REUTERS/Carlos Garcia RawlinsMay’s plan to keep close ties with the EU after leaving has been criticized by Brexit supporters and opponents alike, leaving her struggling to secure parliament’s approval in a vote that will follow the debate on Dec. 11. If, against the odds, she…

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Front Burner: Meet the Easy-Bake Oven for Grown-Ups

The microwave oven did not revolutionize home cooking. Nor did sous-vide gadgetry. Now there’s a new contender: the Brava oven, a countertop appliance that cooks from what amounts to light bulbs — a system called Pure Light that was originally developed in the solar industry. Easy-Bake for grown-ups? Perhaps. At a demonstration a few months ago, I was struck by the ease of use and the results, which include the ability to cook a steak that’s invitingly seared on the outside and properly rosy within. The oven can reach 500 degrees in seconds, without preheating. What was really impressive was how several ingredients, like proteins and vegetables,…

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U.S.-China trade truce boosts Wall Street

(Reuters) - Wall Street’s major indexes rallied on Monday following a trade truce between the United States and China, whose tensions have clouded the outlook for the stock market for much of the year. The benchmark S&P 500 .SPX gained nearly 1 percent, building off of its biggest weekly percentage gain in nearly seven years a week ago, although the index had come off its earlier session highs in afternoon trading. Investors were lifted by news over the weekend that U.S. President Donald Trump and Chinese President Xi Jinping agreed to hold off on new tariffs during talks in Argentina, declaring a truce following months of escalating…

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Presenting legal advice, PM May fans flames of Brexit rebellion

LONDON (Reuters) - British Prime Minister Theresa May’s government fought on Monday to defend its Brexit deal by outlining the legal basis for parliament to support its plan to leave the European Union, but instead seemed to fan the flames of rebellion. A stall sells Union flags in Westminster, London, Britain, November 13, 2018. REUTERS/Simon DawsonMay faces an uphill struggle to secure parliament’s approval in a vote on Dec. 11, when many Brexit supporters and opponents alike say they will reject her vision for leaving the EU, Britain’s biggest shift in foreign policy in over 40 years. She has toured the country and television studios to try…

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Kudlow: China openness on Qualcomm a sign of cooperation to come

White House economic adviser Larry Kudlow speaks to the media outside the White House in Washington, U.S., December 3, 2018. REUTERS/Jim YoungWASHINGTON (Reuters) - White House economic adviser Larry Kudlow said on Monday that President Donald Trump put the issue of U.S. chipmaker Qualcomm Inc’s now abandoned acquisition of Dutch peer NXP Semiconductors NV on the table for talks with Chinese President Xi Jinping. The Chinese president’s openness to the deal was a sign of further cooperation on multiple issues, including corporate mergers, Kudlow told reporters. Trump and Xi met in Argentina on Saturday. Qualcomm said on Monday it was not looking to revive the acquisition. Kudlow…

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White House adviser expects China’s tariffs on U.S. autos to fall to zero

Newly manufactured cars are seen at the automobile terminal in the port of Dalian, Liaoning province, China October 18, 2018. REUTERS/StringerWASHINGTON (Reuters) - White House Economic Adviser Larry Kudlow on Monday said that China could immediately slash its vehicle tariffs, as the country enters a 90-day truce in the current trade war with the United States to negotiate a trade deal, as he reiterated China’s pledge to begin lifting barriers immediately. Kudlow said on a call with reporters that he believed the immediate action could include China reducing its 40 percent tariffs on U.S.-produced vehicles and that he expects Beijing will quickly roll back new retaliatory tariffs…

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China made more than $1.2 trillion trade commitments: Mnuchin

WASHINGTON (Reuters) - China has made more than $1.2 trillion in additional trade commitments as part of a deal reached by U.S. President Donald Trump and China’s Xi Jinping and Beijing has vowed to take immediate steps on those promises. Trump and Chinese President Xi Jinping agreed to hold off on new tariffs during talks in Argentina on Saturday, declaring a truce following months of escalating tensions on trade and other issues. Treasury Secretary Steve Mnuchin said on Monday there was a clear shift in tone at Buenos Aires from past discussions with Chinese officials, as Xi offered a clear commitment to open China’s markets to U.S.…

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Qualcomm says has moved on from NXP despite China comment

(Reuters) - U.S. chipmaker Qualcomm Inc (QCOM.O) said on Monday it was not looking to revive its abandoned $44 billion acquisition of Dutch peer NXP Semiconductors NV (NXPI.O), a day after the White House said China would reconsider clearing a deal if it was attempted again. Qualcomm, the world’s biggest smartphone-chip maker, walked away from its agreement to buy NXP in July, after failing to secure Chinese regulatory approval. The planned deal was first agreed between the two companies in October 2016. Qualcomm, headquartered in San Diego, California, and NXP, based in Eindhoven, the Netherlands, needed China’s blessing for their deal because of their presence in that…

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