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Business & Economy

Trump turns from pomp to business in UK visit

LONDON (AP) — President Donald Trump will turn from pageantry to policy Tuesday as he joins British Prime Minister Theresa May for a day of talks likely to highlight fresh uncertainty in the allies’ storied relationship.

Trump and May are due to meet with corporate executives from the United States and United Kingdom, before an afternoon news conference on the second day of Trump’s state visit. The leaders’ top priority is a possible bilateral trade deal to take effect once the U.K. leaves the European Union.

Pompeo: Deal of the century ‘unexecutable’

3 June 2019; MEMO: US Secretary of State Mike Pompeo called the US’ Palestine-Israel peace plan arguably “unexecutable” in a private meeting with Jewish leaders on Tuesday. In an audio recording of the meeting obtained by the Washington Post, Pompeo expressed his scepticism of the secret plan, due to be revealed in a few weeks in Bahrain, saying that it might not “gain traction” and could be seen as “not particularly original”.

Boeing finds wing defect, including among some MAX

Washington, Jun 3 (AFP) Boeing announced Sunday that some of its medium-haul 737s, including the 737 MAX 8, could have a defective wing part, but that there had been no reports of flight issues linked to the defect.

The American aviation giant, which has been rocked by an unprecedented crisis after its entire 737 MAX 8 fleet was grounded in mid-March, said a subcontractor informed it of problems with a batch of a part involved in deploying the wings' leading edge.

German chipmaker Infineon to buy US rival Cypress for €9 billion

3 June 2019; DW: Bavarian chipmaker Infineon is planning a multibillion-dollar takeover of United States competitor Cypress Semiconductor, the two companies said in a joint statement.

Infineon said it would pay $23.85 (€21.35) per share, a 46% premium on Cypress' average share price between mid-April and the end of May. That amounts to a €9 billion enterprise value, by far the most significant acquisition in the Bavarian firm's 20-year history.

German Social Democrat leader Andrea Nahles to step down after EU poll losses

3 June 2019; DW: Andrea Nahles has announced her resignation as leader of the center-left Social Democratic Party (SPD) and its parliamentary group, saying she wanted to give the party the chance to elect the next leader in an orderly way after disastrous European election results.

Russia's Transneft expects clean oil to reach Poland on June 8-9

MOSCOW, June 3. / Tass /: The shipment of clean oil to Hungary and Slovakia via the Druzhba main oil pipeline is working as usual, and deliveries of clean oil to Poland may start as early as June 8-9, Transneft spokesman Igor Dyomin told reporters on Monday.

"Oil at the delivery point (PSP) Budkovice (Slovakia) and Feneslytke (Hungary) has entered a normal mode. In Belarus, oil with excess organochlorine continues to be pumped out, from the PSP Adam's Zastava (Poland). Presumably, clean oil will reach PSP on June 8-9," he said.

Relations between Pakistan, India likely to improve: PAK FM Qureshi

MULTAN, June 2 (APP): Foreign Minister Makhdoom Shah Mehmood Qureshi said relations between Pakistan and India were heading towards improvement.

Following Pulwama incident, both the countries had banned their airspace for each other for international flights.

However, India had expressed her wish to lift the said ban as the fare of Indian planes went up thus creating trouble for their passengers.

Tech group eases stance on Huawei as Beijing lashes back

BEIJING (AP) — The world’s largest association of technology professionals backed away from barring staff of Chinese tech giant Huawei from some of its activities as Beijing fired back at the U.S. over the two nations’ trade dispute.

Data releases Monday, meanwhile, showed a widening fallout from the clash between the two biggest economies over China’s perennially huge trade surpluses and its efforts to leap ahead in advanced technology.

White House: Trump ‘deadly serious’ about Mexico tariffs

WASHINGTON (AP) — A top White House official said Sunday that President Donald Trump is “deadly serious” about imposing tariffs on imports from Mexico, but acknowledged there are no concrete benchmarks being set to assess whether the U.S. ally is stemming the migrant flow enough to satisfy the administration.

“We intentionally left the declaration sort of ad hoc,” Mick Mulvaney, the acting White House chief of staff, said on “Fox News Sunday.”

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