News 

Qualcomm owes Apple $1 billion rebate payment

“A judge has ruled that Qualcomm owes Apple close to $1 billion in patent royalty rebate payments” writes Luke Dormehl for cultofmac.com. Separately, Qualcomm and Apple had a cooperation agreement under which Qualcomm would pay Apple a rebate on the iPhone patent payments if Apple agreed not to attack in court or with regulators.” Apple sued Qualcomm around two years ago, claiming that it was owed $1 billion in rebates.The payments were due as part of a business cooperation agreement made between the two companies during happier times in their…

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GBP News 

British lawmakers vote to seek Brexit delay

“British lawmakers have been unhappy with a so-called backstop agreement that would take effect if talks over a future trade deal deadlocked” writes Christina Boyle for latimes.com. The agreement would keep all the U.K. inside an EU customs union, and Northern Ireland would remain linked to some rules of the more extensive single market. Source: latimes.com

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GBP News 

Brussels demands answers from UK on Brexit plan after deal rejected again

“The Brexit deal was defeated by 149 votes on Tuesday night, with 75 Conservatives rebelling” reports aol.co.uk. The European Union has called for a “clear answer” from the UK about its next step in the Brexit process after MPs rejected Theresa May’s deal.The Commons is now set to vote on whether to accept a no-deal Brexit after Mrs May suffered a humiliating defeat as her EU Withdrawal Agreement was rejected for a second time. Source: aol.co.uk

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GBP News 

Parliament to vote today on Prime Minister Theresa May’s Brexit deal

“Pro-Brexit British lawmakers were deciding Tuesday whether last-minute changes to Prime Minister Theresa May’s Brexit deal were enough to overcome their opposition to her plan to lead the U.K. out of the European Union” writes Jill Lawles for sun-sentinel.com. Some British lawmakers underscored that warning, telling their Brexit-backing colleagues that rejecting the deal could lead to Britain’s departure being postponed indefinitely.”Now is the time to come together to back this improved Brexit deal and deliver on the instruction of the British people,” May said.Lawmakers defeated May’s deal by a whopping…

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Ireland’s Varadkar: Instrument agreed does not reopen deal or undermine backstop

“Whatever that is agreed in the May-Juncker meeting basically just adds to the withdrawal agreement, it doesn’t change the core of what was agreed upon beforehand” reports forexlive.com. The pound is still holding steady though with cable at 1.3230 currently and EUR/GBP sitting lower at 0.8520, off the lows a little as the euro is also holding firm on the day. Source: forexlive.com

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GBP News 

Revealed: Nigel Farage met Donald Trump and asked him to back a no-deal Brexit

“Donald Trump and Nigel Farage discussed the merits of a no deal Brexit during a face-to-face meeting earlier this month, The Telegraph can reveal” writes William Hague for telegraph.co.uk. The US president was urged to support walking away from the table if a bad agreement is on offer – just like he had done during North Korea talks in Vietnam. Mr Trump has been critical of Theresa May’s Brexit deal, warning it will limit the scope of a US-UK free trade deal, but has not gone as far as to…

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Canal Sugar signs bridge financing agreement worth $100m

“Canal Sugar, an Egyptian joint stock company, headed by the UAE investor, Gamal Al Ghurair, signed today a $100m (EGP 1.2bn) bridge funding agreement with a consortium of six banks to finance the procurement, construction, and operation of its project in Minya for the coming six months and until a $700m long-term loan agreements are finalised” writes Daily News Egypt for dailynewsegypt.com. The company had appointed Al Ahly Capital Holding as the financial adviser for the transaction and the sole book runner and global coordinator with the export credit guarantee…

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Judge dismisses Stormy Daniels’ hush-money suit against Trump

“The Los Angeles judge ruled that because Trump and his former lawyer have agreed not to hold Daniels to their non-disclosure agreement, the suit was inapplicable” reports nypost.com. A federal judge on Thursday dismissed Stormy Daniels’ lawsuit against President Trump that sought to end a hush-money settlement agreement between her and the president.Daniels signed the non-disclosure agreement after allegedly sleeping with Trump in exchange for $130,000.During the suit, Trump and Cohen agreed to enforce the non-disclosure agreement, but Daniels and her lawyer, Michael Avenatti, wanted to continue the case to…

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Tesla reached an agreement with a group of Chinese banks to secure over $500 million in loans for its new Gigafactory in Shanghai

“The latest financing maneuvers between the Fremont, California-based Tesla and Chinese banks comes as the ongoing trade war between the US and China continues” writes Rosie Perper for businessinsider.com. Tesla said on Thursday that it signed an agreement with Chinese banks for a loan of up to $521 million to build its first overseas Gigafactory in Shanghai.The Shanghai factory will be the first auto plant in China that’s entirely owned by a foreign company.The electric-car company has said the Gigafactory will cost around $2 billion, and could help the company…

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