FRANKFURT (Reuters) – Siemens SIEGn.DE is in talks with Triton and other buyout groups to sell its 1.5-2 billion euro ($1.8-$2.4 bln) transmissions maker Flender, people close to the matter said, part of the industrial conglomerate’s plans to streamline its operations.

FILE PHOTO: The headquarters of Siemens AG is seen in Munich, Germany, December 18, 2019. REUTERS/Michael Dalder

Siemens has asked Triton, Carlyle CG.O, CVC and Brookfield to submit final offers next week for the business, which has earnings before interest, tax, depreciation and amortisation of just above 200 million euros and could be valued at 8-9 times that, the sources added.

The trains to industrial software maker has simplified its structure in the past few years, floating its turbines and generators supplier Siemens Energy ENR1n.DE last month after spinning off its Healthineers SHLG.DE division in 2018.

Siemens, its advisers for the Flender deal — Citi C.N and Bank

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HONG KONG (Reuters) – Huawei Technologies Co Ltd is in talks with Digital China Group Co Ltd and other suitors to sell parts of its Honor smartphone unit in a deal that could fetch up to 25 billion yuan ($3.7 billion), people with knowledge of the matter said.

FILE PHOTO: Huawei’s new Honor 20 smartphone is seen at a product launch event in London, Britain, May 21, 2019. REUTERS/Peter Nicholls/File Photo

Embattled Huawei is resetting its priorities due to U.S. sanctions and will focus on its higher-end Huawei phones rather than the Honor brand which is aimed at young people and the budget conscious, they said.

The assets to be sold have yet to be finalised but could include Honor’s brand, research & development capabilities and related supply chain management business, two of the people said.

The deal may be an all-cash sale and could end up smaller, worth somewhere

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By Julie Zhu

HONG KONG (Reuters) – Huawei Technologies Co Ltd is in talks with Digital China Group Co Ltd and other suitors to sell parts of its Honor smartphone unit in a deal that could fetch up to 25 billion yuan ($3.7 billion), people with knowledge of the matter said.

Embattled Huawei is resetting its priorities in the face of U.S. sanctions and will focus on its higher-end Huawei phones rather than the Honor brand which is aimed at young people and the budget conscious, they said.

The assets to be sold have yet to be finalised but could include Honor’s brand, research & development capabilities and related supply chain management business, two of the people said.

The deal may be an all-cash sale and could end up smaller, worth somewhere between 15 billion yuan and 25 billion yuan, one of the people said.

Digital China, the main distributor

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By Suzanne Barlyn and Swati Pandey

NEW YORK/SYDNEY, Oct 14 (Reuters)Asian equities slipped on Wednesday as halted COVID-19 vaccine trials and an impasse in U.S. fiscal aid package talks soured risk appetite, while the greenback held on to gains as demand firmed for safe-harbour assets.

Johnson & Johnson JNJ.N on Tuesday said it was pausing a COVID-19 vaccine trial due to a study participant’s unexplained illness.

Eli Lilly and Co LLY.N later said it too had paused the clinical trial of its COVID-19 antibody treatment due to a safety concern, leading the U.S. equity market to deepen losses.

J&J shares lost 2.3%, while Eli Lilly closed down nearly 3%.

“That just spoke to the fact that a vaccine could take longer to be delivered than what the market’s expectations are calibrated towards,” said CommSec market analyst Tom Piotrowski in Sydney.

MSCI’s broadest index of Asia-Pacific shares outside

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President Donald Trump quickly put the economic focus back on himself Thursday morning, after Wednesday night’s vice presidential debate, which covered more economic issues than his barb-trading battle with Democratic candidate Joe Biden.

“Our numbers are going to be great, our numbers for the third quarter are going to be through the roof, retail sales, employment, all of these numbers are going to be great,” Trump told Fox Business Network in a phone-in interview.

The president said he had shut down stimulus talks because both sides were haggling over terms and “it wasn’t going anywhere,” he said. “I don’t want to play games. And then we reopened, and I see the markets are doing well but I think we have a really good chance of doing something.”

Wednesday’s debate brought a more civil tone atop simmering tensions between the two candidates and covered, albeit briefly in the two-minute response allotment,

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A global economic watchdog on Monday said talks on how to overhaul taxes on big tech companies will stretch into 2021 after the coronavirus pandemic and “political issues” prevented the group from wrapping up by its end of the year deadline. 

The Organization for Economic Cooperation and Development (OECD) on Tuesday announced a two-pillar proposal to overhaul how big tech companies are taxed. The proposal was approved by a group with participants from 137 countries and jurisdictions. 

The proposal’s first pillar includes a blueprint to establish rules on where taxes should be paid and a way of sharing taxing rights between countries. The second pillar proposes establishing a global minimum tax for tech companies. 

The plan will be presented to Group of 20 finance ministers next week with the goal of putting the plan in place by the middle of next year if an agreement is reached, said Angel Gurria,

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President Donald Trump may agree to spend more than $1.8 trillion in order to pass a coronavirus stimulus bill before Election Day, his top economic adviser said Sunday.

Larry Kudlow said that the administration might even exceed the House Democrats’ $2.2 trillion spending figure.

Trump indicated in a radio interview last week that he “would like to see a bigger stimulus package, frankly, than either the Democrats or the Republicans are offering.”

“As far as the key elements are concerned, the checks, the unemployment assistance, the small business assistance — we have got to help airlines out — he would go further,” Kudlow said on CNN’s “State of the Union.”

“He’s always said that. He knows that we need as much power for economic recovery as possible. It’s not just recovery in three weeks. It’s recovery to the end of the year and beyond in a possible second term.”

Kudlow

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By Guy Faulconbridge, William James and John Chalmers

LONDON/BRUSSELS (Reuters) – European Union chief Brexit negotiator Michel Barnier wants a few more concessions from Britain before entering the last intense phase of negotiations on a trade deal, an EU diplomat said on Friday, as an Oct. 15 deadline looms.

The United Kingdom formally left the EU on Jan. 31, but more than fours years since voting 52%-48% for Brexit in a 2016 referendum, the two sides are haggling over a trade deal that would kick in when informal membership ends on Dec. 31.

The two chief negotiators, Barnier and Britain’s David Frost, say they are inching towards a deal, though they have underscored that important gaps remain on fishing, level playing field issues and governance. Both sides have no-deal plans.

Barnier, who left London on Friday just 12 hours after arriving, wants a few more concessions from Britain before entering

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(Reuters) – U.S. stocks rose on Friday and the S&P 500 and Nasdaq registered their biggest weekly percentage gains since July as optimism over more federal fiscal aid grew.

Talks were expected to continue on a COVID-19 stimulus package, even though U.S. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin failed on Friday to reach agreement.

Mnuchin floated a new proposal Friday afternoon, but an aide for Pelosi said it lacked a broad plan to contain the pandemic.

Recent trading on Wall Street has been dictated by headlines on fiscal aid, with the three main indexes tumbling on Tuesday after U.S. President Donald Trump called off negotiations. He has since indicated he was willing to resume discussions.

“The market’s reacting well to Trump’s sudden turnaround in terms of a support package,” said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York, New York. “A lot of this

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An executive from the Greater Houston Partnership spoke with Houston Northwest Chamber of Commerce members about the struggle for economic recovery, with forces pulling the economy both in and out of the recession.

Patrick Jankowski, senior vice president of the group, said Thursday the struggle was like a tug of war, with some factors pulling Houston’s economy into recovery, and others keeping the economy from progressing and bringing back jobs.

Some positives include consumer sentiment at its highest level since March; single-family home sales and car sales are back up, according to data from the US Census Bureau and the US Bureau of Economic Analysis. Jankowski said an increase in automobile sales was a short-term indicator of consumer confidence, while home sales were a long-term indicator of consumer confidence.

Jankowski also said retail sales overall have risen since the

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