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Wall Street tumbles on renewed U.S.-China trade jitters

NEW YORK (Reuters) – U.S. stocks fell on Wednesday on renewed uncertainty regarding the U.S. stance on Chinese investments in American technology companies, reversing gains earlier in the session. At the market open, stocks rose as President Donald Trump said he will use a strengthened national security review panel — the Committee…

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Lyft valued at $15 billion in latest funding round

(Reuters) – Lyft Inc said on Wednesday it raised $600 million in a new funding round led by Fidelity Management, doubling the ride-hailing firm’s valuation to $15.1 billion in little over a year. An illuminated sign appears in a Lyft ride-hailing car in Los Angeles, California, U.S. September 21, 2017. REUTERS/Chris Helgren…

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Apple, Samsung settle U.S. patent dispute

(Reuters) – Apple Inc and Samsung Electronics Co Ltd on Wednesday settled a seven-year patent dispute over Apple’s allegations that Samsung violated its patents by “slavishly” copying the design of the iPhone. FILE PHOTO: The Apple Inc. logo is shown outside the company’s Worldwide Developers Conference in San Francisco, California, U.S., June…

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U.S. gives Disney-Fox deal antitrust approval

WASHINGTON (Reuters) – Walt Disney Co has won U.S. antitrust approval to buy Twenty-First Century Fox Inc’s entertainment assets for $71.3 billion on the condition that it sell all 22 regional sports networks owned by Fox, the Justice Department said on Wednesday. FILE PHOTO: A screen shows the logo and a ticker…

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Trump threatens Harley-Davidson over European production move

WASHINGTON/CHICAGO (Reuters) – U.S. President Donald Trump threatened Harley-Davidson Inc with higher taxes on Tuesday and said the motorcycle maker, which he previously hailed as a model of American manufacturing, would suffer from a public backlash if it went ahead with a plan to move production for European customers overseas. Trump’s attack,…

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Trump says security panel can protect U.S. technology from China

WASHINGTON (Reuters) – President Donald Trump on Tuesday endorsed U.S. Treasury Secretary Steven Mnuchin’s measured approach to restricting Chinese investments in U.S. technology companies, saying a strengthened merger security review committee could protect sensitive American technologies. U.S. President Donald Trump speaks during a lunch meeting with Republican members of Congress at the…

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Put on probation, Uber wins London license to avoid ban

LONDON (Reuters) – Uber Technologies Inc won a probationary license to operate in London on Tuesday in a partial victory for its new chief executive after it made changes to ease strained relations with city authorities. The new license was subject to strict conditions, however, and came with a warning to prove…

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GE breakup leaves it with best and worst performers

(Reuters) – General Electric Co said on Tuesday it will spin off its healthcare business and divest its stake in oil-services firm Baker Hughes, effectively breaking up the 126-year-old conglomerate which was once the most valuable U.S. corporation and a global symbol of American business power. The slimmed-down company will focus on…

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