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Xerox-Fuji deal collapses, Trump wants to save a Chinese phone maker, and other news

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Xerox
Xerox has ended merger talks with Fujifilm as part of a settlement with investors Carl Icahn and Darwin Deason. The billionaires opposed the deal, claiming it devalued the company.
 
President Trump
President Trump tweeted that he’s working with Chinese President Xi Jinping to get ZTE “back into business.” China’s fourth-largest smartphone maker said last week it had stopped operations after the U.S. government banned sales to the firm for seven years.
 
USPS
The U.S. Postal Service saw its second-quarter net loss more than double from a year ago to $1.3 billion. The drop is partly due to increased employee costs to better compete with e-commerce giant Amazon.
 
Quote
“No one wants to see iPhones getting smashed in the streets of major Chinese cities.” Eurasia Group’s Paul Triolo, on why the administration may help ZTE.
 
Daily Top Headlines: 
Animation: Lucy Clinch 
Script: Katie Carroll, Lorraine K. Lee 
Art: Jacqueline Zaccor 
Producer: Florencia Iriondo

Published in: News & Politics
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