Saturday, 23 June, 2018

U.S. sees security risk from Qualcomm deal

Qualcomm shareholder meeting pushed forward by a month Qualcomm takeover bid halted by US government
Andrew Cummings | 08 March, 2018, 01:34

It's been an extremely busy couple of months for both Qualcomm and Broadcom, as the latter continues to pursue a hostile takeover.

It also criticised Qualcomm for not mentioning that it had done this, especially in the two meetings between the companies on 14 February and 23 February, which it said was an "intentional lack of disclosure".

Qualcomm just concluded its 5G day in San Diego, California, where it showed off a number of new demos showcasing what the new Snapdragon 845 can do.

U.S. Republican lawmakers on Monday backed a U.S. panel's decision to delay semiconductor firm Qualcomm Inc (QCOM.O) shareholder meeting to allow for a more extensive review of Broadcom Ltd's (AVGO.O) takeover bid.

The Committee on Foreign Investment in the US, led by the Treasury, is investigating the $117 billion offer by Broadcom on national seucurity grounds, an unusual move that threatens to derail what would be the biggest deal in the history of technology.

The letter goes on to note that Qualcomm is now a leader in setting wireless standards for the US and the world, which includes developing 5G wireless technology.

CFIUS asked Qualcomm to postpone its shareholder meeting, scheduled for Tuesday, by 30 days.

Missouri's Michael Porter Jr. will play Thursday in SEC tourney opener
Martin said Porter, the No. 1 recruit in the country past year , will he able to help Missouri in a variety of ways. In the season opener against Iowa State , he only played two minutes before leaving the game with a back injury.

Neymar leaves hospital after 'successful' surgery on injured foot
During the first portion of his recovery and rehabilitation, Neymar will be accompanied by PSG physical therapist Rafael Martini . The Brazil forward sprained his right ankle and cracked his fifth metatarsal during last Sunday's Ligue 1 victory over Marseille.

Songs, heartfelt words fill the Rev. Billy Graham's funeral
Billy Graham's family says the casket was made with no upgrades, and only minor modifications to allow for easy transport. Still, loved ones said Graham saw himself as a humble preacher who would have been embarrassed by such fanfare.

As expected, Broadcom didn't take the news lying down. The company will complete a corporate restructure and be headquartered in the U.S.by May 6, 2018. That's a concern for the government, as Qualcomm is critical to maintaining the US's position of leadership in semiconductors and wireless networking.

On Wednesday, Broadcom said that if it acquires Qualcomm, the company is committed to making the United States "the global leader in 5G".

As a result, Broadcom's business plan for Qualcomm, including any divestitures it plans in order to appease antitrust regulators, will be scrutinized by CFIUS, lawyers who advised companies on their CFIUS applications said. He has proposed legislation to tighten CFIUS' scrutiny of deals.

The moving "process is well underway" and accused Qualcomm of secretly scuttling the takeover effort by appealing to CFIUS, Broadcom insists. It's hard to see a good reason why we should hand over one of our leading computer-chip makers, and thereby give Chinese companies a leg-up in the race to develop 5G and the next generation of technology.

CFIUS can approve or propose changes to deals, but only the president can block a transaction on national security grounds.

Broadcom's CEO Hock Tan joined US President Donald Trump in the White House past year to announce he was moving Broadcom's headquarters to the US from Singapore - a move that appeared created to appease US officials and facilitate future acquisitions.

Recommended

Kentucky sees decrease in ER visits related to opioid overdoses Kentucky sees decrease in ER visits related to opioid overdoses This fast-moving epidemic affects all ages, genders and states and is still increasing across the USA , she said. Consistent with the program report, it indicates that the Midwest (70%) is the most burdened region.

Nashville Mayor Pleads Guilty To Felony Theft, Admits Affair With Bodyguard Nashville Mayor Pleads Guilty To Felony Theft, Admits Affair With Bodyguard Forrest's overtime pay more than doubled from 2014-15 to the 2016-17 budget year, according to Metro Nashville Police records . Barry claimed at the time the affair was a personal matter that violated no laws or ethical standards, and refused to resign.

We are all Sam Nunberg We are all Sam Nunberg Asked if he was concerned about being held in contempt for refusing to comply with a subpoena , Nunberg laughed off the idea. Mueller also could seek to charge Nunberg with obstruction of justice. "I was feeling sorry for that kid", Scarborough said.

World's oldest message in a bottle found on Australia beach World's oldest message in a bottle found on Australia beach To think that this bottle has not been touched for almost 132 years and is in flawless condition, despite the elements. However, as provided on the website, there appears to be mentions of the name Paula in reference to the boat.

Justice Department accuses California of interfering with immigration policies in new lawsuit Justice Department accuses California of interfering with immigration policies in new lawsuit The administration is arguing the laws are unconstitutional and said it may also sue other states that have similar laws. It allows ICE agents to interview immigrants at county jails, though not to hold permanent office space there.

Guardiola hails Man City: "Who could believe it?" Guardiola hails Man City: We have shown that - and if we don't reach that kind of level of performance in every match, it's because of our attitude".

Oscar Envelopes Featured Font Large Enough To See From Home Oscar Envelopes Featured Font Large Enough To See From Home Comediennes Haddish and Rudolph co-presented the awards for animated and live-action short films and they were hilarious. After last year's disastrous "La La Land"/"Moonlight" mixup, Warren Beatty and Faye Dunaway returned for a do-over.

Opioid overdoses kill nearly 5 people every hour in the US — CDC Opioid overdoses kill nearly  5 people every hour in the US — CDC But Delaware, Illinois, Pennsylvania and Wisconsin all saw increases of 50 percent or more in opioid overdose emergency visits. Nearly 100 people are dying every day across America from opioid overdoses - more than auto crashes and shootings combined.

Watch a hotel rip Trump's name off its sign Watch a hotel rip Trump's name off its sign Fintiklis played a Greek song on the hotel lobby piano Monday, which he had done throughout the dispute to mark certain victories. All of this led to a November vote where the hotel's owner's association chose to do away with the Trump name and management.

Cigarettes Present The Same Carcinogenic Chemicals As The Regular Cigarettes Cigarettes Present The Same Carcinogenic Chemicals As The Regular Cigarettes Community education specialist for Shasta County's tobacco program Manuel Meza says they're well aware of the dangers of vaping. Levels of toxic organic compounds were up to three times higher on average in the e-cigarette users compared with the controls.

Another incident for Aldon Smith Another incident for Aldon Smith Smith, who recently got engaged , is now being pursued by police, who would like to discuss the incident further. Smith was a standout at the University of Missouri, where he played two seasons before entering the NFL Draft.

Vatican finance chief faces crucial hearing on abuse claims Vatican finance chief faces crucial hearing on abuse claims Apart from the first 25 minutes, most of Monday's hearing was closed to the public while the first accuser gave evidence. Even if she decides the evidence is not sufficient to proceed, public prosecutors can still move to take Pell to trial.

Brian Ortega Knocks Out Frankie Edgar (UFC 222 Results) Brian Ortega Knocks Out Frankie Edgar (UFC 222 Results) Once she was back in striking range, Cyborg began landing right-handed bombs and Kunitskaya went down. Ortega now extends his unbeaten streak to 14, including six under the UFC banner.

US Embassy to Turkey closed for security reasons US Embassy to Turkey closed for security reasons Meanwhile, Deputy Prime Minister Bekir Bozdağ said that Turkey is the country most effectively fighting against Daesh. Two others were detained in Samsun by police acting on information they provided, the report said.

Trump says he 'may' attend Jerusalem embassy opening Trump says he 'may' attend Jerusalem embassy opening Trump also said his administration is working "very hard" on a peace deal, but acknowledged potential problems. Palestinian Authority Leader Mahmoud Abbas has said he will not accept a peace agreement brokered by Trump.