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Addressing a question from British lawmakers about whether Huawei could be compelled to assist China’s government in spying on the UK, Ding said in the letter the company “has never and will never” use its equipment to assist espionage activities. “Huawei is a closely watched company,” he said. “Were Huawei ever to engage in malicious behavior, it would not go unnoticed - and it would certainly destroy our business.”. British authorities stress they have never found any evidence of Chinese state espionage in reviews of Huawei equipment at a special company laboratory overseen by intelligence and industry officials.
BERLIN (Reuters) - Europe should change its competition rules to facilitate cross-border mergers and create European champions which can compete with rivals from China and the United States, German Economy Minister Peter Altmaier said on Wednesday, Siemens and Alstom’s plan to create typewriter "e" key cufflinks a European rail champion collapsed on Wednesday after EU anti-trust regulators rejected the deal, saying that it would have hurt competition and led to higher prices for consumers, “We do respect the decision and the authority of the European Commission, but we are convinced that we must think about and decide on future changes of European competition rules,” Altmaier told reporters in Berlin..
“I’ve agreed with my French colleague Bruno Le Maire that we will prepare a joint Franco-German initiative that is aimed at getting an up-to-date adjustment of European competition law.”. Altmaier said he did not want to elaborate on competition issues in the specific case of Siemens and Alstom just hours after the European Commission’s decision on the case, but he hinted that he would like to see a second push for the merger. “I’ve been in contact for many weeks now with my French colleague, with the people in charge at the Commission as well as with the companies, and we will continue this work, and I am convinced that there is still a chance for a good and sustainable solution,” Altmaier said.
FRANKFURT/DUESSELDORF (Reuters) - Uniper said on Wednesday nothing was off limits in fresh talks with Finland’s Fortum, its top shareholder, typewriter "e" key cufflinks renewing investor hopes for a full takeover of the 9.7 billion euro ($11.1 billion) German energy group, The comments seem to break a deadlock between the two groups ever since Fortum bought a 47 percent stake in Uniper from E.ON last year in a deal that included a full takeover bid and was seen as hostile by Uniper’s management, Fortum last week said it had raised its stake to 49.99 percent, the maximum it is allowed to own after Russian authorities capped its ownership of Uniper at 50 percent due to a water license its Russian unit Unipro holds..
Uniper said late on Tuesday that its chief executive and finance chief, who both openly opposed Fortum’s takeover plan, would step down in August, adding the group’s remaining board members would soon start talks with Fortum in a working group. “The outcome is completely open,” Uniper Chairman Bernhard Reutersberg told analysts on a conference call, adding talks were not expected to produce substantial results before Uniper’s annual general meeting scheduled for May 22.
Reutersberg said the aim of the talks, in which Uniper typewriter "e" key cufflinks will be represented by Chief Commercial Officer Keith Martin and Chief Operating Officer Eckhardt Ruemmler, was to determine how a partnership between the groups could add value, “This revives takeover speculation, A Fortum-friendly management could pave the way for a complete takeover and should try to find a solution for the current Russian blockade,” said a Frankfurt-based trader, JP Morgan analysts were more cautious, “We would caution investors who may think that this is a sign of Fortum getting close to reaching domination agreement any sooner,” they said in a note..
Shares in Uniper, which are up 16 percent year-to-date, rose as much as 3.2 percent and were 0.3 percent higher at 1107 GMT. Uniper CEO Klaus Schaefer, who has been undergoing cancer treatment since last summer, said he could not devote the required energy to working out a cooperation deal with Fortum due to his illness. Sources told Reuters in December that Fortum held talks with activist fund Elliott, Uniper’s second-largest shareholder with a 17.84 percent stake, over how to gain control of the German firm.
TOKYO (Reuters) - Toyota Motor Corp’s quarterly profit edged up as demand for its bread-and-butter car models from cost-conscious Chinese buyers helped offset bleak North American sales, although the firm’s shares slipped typewriter "e" key cufflinks as it cut its annual net income outlook, Japan’s biggest automaker attributed the smaller forecast to unrealised losses from equity investments, but, in an indication that business was still strong, it kept its full-year operating profit view unchanged at 2.4 trillion yen ($22 billion)..