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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 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.
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.
“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