ROME—Australian Trade Minister Dan Tehan said on Friday he expected to finalise a free trade agreement with the European Union by the end of next year, despite the EU’s anger over Canberra’s cancellation of a submarine contract with France. Brussels postponed the latest round of talks, which were due to start on Oct. 12, until…
Wall Street Ends Higher on Optimism About US Debt-Ceiling Deal
October 7, 2021
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Wall Street ended higher on Wednesday as investors grew more optimistic that congressional Democrats and Republicans could reach a deal to avert a government debt default. Top U.S. Senate Republican Mitch McConnell said his party would support an extension of the federal debt ceiling into December. This would head off a historic default that would…
Nvidia Offers EU Concessions Over $54 Billion Arm Deal
October 6, 2021
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BRUSSELS—Nvidia has offered concessions in a bid to secure EU antitrust approval for its $54 billion acquisition of British chip designer Arm, a European Commission filing showed on Wednesday. The deal announced by world’s biggest maker of graphics and AI chips last year has sparked concerns in the semiconductor industry over whether Arm could remain…
Ireland to Back Global Tax Deal If Concerns Met: Minister
DUBLIN—Ireland will likely sign up to an overhaul of global corporate tax rules if certainty is brought to bear on its concerns when an updated text of the OECD’s proposals is published shortly, Finance Minister Paschal Donohoe said on Thursday. Ireland, the low-tax European headquarters for a number of the world’s largest multinationals, has so…
AstraZeneca Buys Rare Disease Drugmaker Caelum in Potential $500 Million Deal
September 29, 2021
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AstraZeneca will take full control of Caelum Biosciences in a deal worth up to $500 million, the drugmaker said on Wednesday, sharpening its focus on rare-disease drugs following its purchase of Alexion Pharmaceuticals. The deal gives AstraZeneca access to another potentially lucrative rare disease drug that is undergoing late-stage trials and has a “fast track”…
In EU, Google Defends Android Phone Maker Deals, Denies Carrot and Stick Tactics
September 28, 2021
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LUXEMBOURG—Alphabet unit Google on Tuesday said deals with Android phone makers that landed it a record 4.3-billion-euro ($5 billion) antitrust fine boosted competition and rejected EU charges they were a carrot-and-stick tactic that stifled rivals. Google was addressing the second day of a week-long hearing as it tries to get Europe’s second-highest court to annul…
Brazil’s Bolsonaro Says UK’s Johnson Sought ‘Emergency’ Food Deal, British Embassy Differs
BRASILIA—Brazilian President Jair Bolsonaro said on Thursday that British Prime Minister Boris Johnson, whom he met this week in New York, asked him for an “emergency” agreement to supply a food product that is lacking in Britain. Bolsonaro, speaking on his weekly webcast to supporters, did not name the product, but said he had passed…
US Treasury’s Yellen Urges Irish Finance Minister to Take Global Tax Deal
September 23, 2021
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WASHINGTON—U.S. Treasury Secretary Janet Yellen urged Paschal Donohoe, the finance minister of low-tax Ireland, to take a “once in a generation opportunity” for a global deal that would stop a race to the bottom on corporate tax rates, the Treasury said on Wednesday. Despite pressure from Yellen and European Union officials, Ireland has not wavered…
Germany Warns of Lost US Trust Over Australia Deal as France Wins EU Support
September 21, 2021
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BRUSSELS—Germany joined France on Tuesday in berating the United States for negotiating a security pact in secret with Australia and Britain that cost Paris a lucrative defence deal, while the EU’s top official said such behaviour was unacceptable. In a concrete signal of the bloc’s outrage, EU ambassadors postponed preparations for an inaugural trade and…
Canadian National to Resume Buyback After Abandoning Kansas City Deal
September 17, 2021
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Canadian National Railway Co. said on Friday it would resume a previously approved share buyback, days after walking away from its $29.6-billion deal for U.S. railroad operator Kansas City Southern. The largest Canadian railroad expects to complete the remaining C$1.1 billion ($869.02 million) of share repurchases by the end of January next year, it said…
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