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May 27, 2019
A low-ball proposal by parent Barrick Gold Corp. to buy out Acacia Mining Plc is an “appropriate” and “elegant” solution to a two-year dispute that has devastated the relationship between the global miner and one of its African subsidiaries, Barrick’s CEO says. Barrick is not prepared to consider raising its bid at this point, Mark Bristow said Friday. He also declined to comment on the reaction his proposal has received from Acacia’s minority shareholders, saying only that he is engaged in regular discussions with Barrick investors, many of whom also hold Acacia shares.
The U.S. isn’t ready to make a trade deal with China, President Donald Trump said while on a state visit to Japan. Trump said American tariffs on Chinese goods “could go up very, very substantially, very easily.” His comments came after trade talks between the two countries stalled earlier this month. Each side has since blamed the other, and Trump has threatened billions more in tariffs.
U.S. President Donald Trump said he isn’t pursuing regime change in Iran but aims to keep it from developing nuclear weapons, in an apparent effort to tamp down tensions that have led to fears of war. Iran “has a chance to be a great country with the same leadership,’’ Trump said at a joint press conference in Tokyo on Monday alongside Japanese Prime Minister Shinzo Abe. “We are not looking for regime change. I just want to make that clear.’’ Iranian officials have said that the raft of U.S. sanctions against their country, which was tightened last month, is aimed at fueling popular dissent in an effort to topple the leadership.
Fiat Chrysler Automobiles NV proposed a merger with Renault SA to create the world’s third-biggest carmaker as manufacturers scramble for scale to tackle an expensive shift to electrification and autonomous driving. The transaction would be structured as a 50-50 ownership through a Dutch holding company, Fiat said Monday. Renault shareholders, including the French government, would get an implied premium of about 10%. In a statement, Renault’s board said it would study what it called a “friendly” proposal.
Labour Leader Jeremy Corbyn promised to give the public a vote on any Brexit deal before the U.K. leaves the European Union. His comments came after the U.K.’s main political parties were hammered in European Parliament elections, scoring their worst results in decades.
Huawei Technologies Co. founder Ren Zhengfei struck a defiant tone in the face of U.S. sanctions that threaten his company’s very survival. In an interview with Bloomberg Television, the billionaire founder of China’s largest technology company conceded that Trump administration export curbs will cut into a two-year lead Huawei had painstakingly built over rivals like Ericsson AB and Nokia Oyj. But the company will either ramp up its own chip supply or find alternatives to keep its edge in smartphones and 5G.