Day: July 13, 2020

Exclusive: Google offers data pledge in bid to win EU okay for Fitbit buy

FILE PHOTO: The logo of Google is seen in Davos, Switzerland Januar 20, 2020. REUTERS/Arnd Wiegmann

BRUSSELS (Reuters) – Alphabet Inc’s Google has offered not to use health data of fitness tracker company Fitbit to help it target ads in an attempt to address EU antitrust concerns about its proposed $2.1 billion acquisition, the U.S. tech company said late on Monday.

The bid, announced in November last year, would help Google take on market leader Apple and Samsung in the fitness-tracking and smart-watch market, alongside others including Huawei and Xiaomi.

“This deal is about devices, not data. We appreciate the opportunity to work with the European Commission on an approach that safeguards consumers’ expectations that Fitbit device data won’t be used for advertising,” Google said in an emailed statement to Reuters.

Reuters reported last week that such a data pledge may likely help Google secure EU approval for the deal.

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Huawei faces ban in Britain, uncertainty swirls over timing, extent

LONDON (Reuters) – Prime Minister Boris Johnson is set to ban Huawei from Britain’s 5G network on Tuesday in a momentous decision that will delight Washington, dismay Beijing and signal the end of a two-decade long partnership with the country’s biggest mobile operator.

FILE PHOTO: The Huawei logo is seen on a communications device in London, Britain, January 28, 2020. REUTERS/Toby Melville

The United States has pushed Johnson to reverse his January decision to grant Huawei a limited role in 5G, saying the Chinese company is a security risk.

The debate has played out against a backdrop of a crackdown in Hong Kong and questions about China’s handling of coronavirus, damaging relations between London and Beijing.

Britain’s National Security Council (NSC), chaired by Johnson, will meet on Tuesday morning to discuss Huawei. Media Secretary Oliver Dowden will then announce a decision to the House of Commons later in the day.

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Tesla taps brake on massive stock rally

(Reuters) – Shares of Tesla ended down 3.1% on Monday, tapping the brakes on a rally that has boosted the electric car maker’s stock by over 40% in two weeks.

Shares of Tesla surged 16% early in the session before joining a sell-off along with other big-name Nasdaq stocks, including Amazon , Microsoft and Nvidia , that have outperformed in recent months.

With investors betting Tesla could show a quarterly profit in its July 22 report and potentially join the S&P 500 index, traders at one point on Monday paid $1,794.99 per share, a premium of almost $300 over Tesla’s previous closing price.

Only the second daily decline for Tesla in 10 sessions came after the company on Saturday cut the price of its Model Y sport utility vehicle by $3,000, just four months after its launch, as it tries to maintain sales momentum in the COVID-19 pandemic.

Higher-than-expected second-quarter

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Free pizza and a 75-foot statue of Musk: the battle for the next Tesla plant

(Reuters) – Tulsa, Oklahoma, is an oil-industry town with a 75-foot (23 m) statue called “The Golden Driller.”

FILE PHOTO: Tesla Inc CEO Elon Musk speaks at an opening ceremony for Tesla China-made Model Y program in Shanghai, China January 7, 2020. REUTERS/Aly Song/File Photo

Austin, Texas, is a progressive city in a conservative state with a thriving software industry and a “Keep Austin Weird” counterculture image.

These two very different towns have one thing in common: They are both on the short list to land a $1.1 billion vehicle assembly plant for Tesla Inc (TSLA.O) – and up to 20,000 new jobs.

With a decision expected within a few weeks, the Austin-versus-Tulsa contest is heating up as Tesla and its chief executive, Elon Musk, stoke a bidding war over tax breaks and other concessions that would reduce the factory’s cost.

Travis County, home to Austin, is expected

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