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Trump Blocks Broadcom’s Bid for Qualcomm

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, New York Times

Trump Blocks Broadcom’s Bid for Qualcomm

President Donald Trump on Monday blocked Broadcom’s $117 billion bid for chipmaker Qualcomm, citing national security concerns and sending a signal that he was willing to take extraordinary measures to promote his administration’s protectionist stance. In a presidential order, Trump said “credible evidence” had led him to believe that if Singapore-based Broadcom were to acquire control of Qualcomm, it “might take action that threatens to impair the national security of the United States.” The acquisition would have been the largest technology deal in history. Broadcom said it was reviewing Trump’s order, and disputed that the bid posed a security threat.

Stormy Daniels Offers to Return Payment to End Deal for Her Silence

The pornographic film actress who says she had an affair with President Donald Trump offered Monday to return $130,000 she received from Trump’s personal lawyer in 2016 for agreeing not to discuss the alleged relationship. In exchange, Stephanie Clifford, known as Stormy Daniels, seeks an end to her deal to keep quiet about what she says was an affair with Trump that started in 2006 and lasted for several months. In the letter, which was sent to Trump’s personal lawyer, Michael Cohen, Clifford’s lawyer, Michael Avenatti, said Clifford would wire the money into an account of Trump’s choosing by Friday.

A DJ by Night May Soon Run Goldman Sachs During the Day

As bake-offs go it was pretty unusual: a part-time disc jockey and a karate black belt vying to be the next leader of arguably the world’s most influential bank. On Monday, Goldman Sachs Group picked the DJ. David M. Solomon, 56, a longtime investment banker, has been anointed as the sole heir apparent to Goldman’s chief executive, Lloyd C. Blankfein. The decision was signaled Monday with the abrupt retirement of Solomon’s lone rival for the job, Harvey M. Schwartz. Solomon was a rare outsider to join Goldman as a partner when he was hired from Bear Stearns in 1999.

Head of A&E Networks Is in Talks to Lead Vice

Shane Smith is preparing to cede his position as Vice Media’s chief executive officer to Nancy Dubuc, who announced Monday that she was stepping down as chief executive of A&E Networks, according to people briefed on the matter. Smith, 48, is expected to remain at Vice Media — potentially as its chairman, said one of the people, who requested anonymity because the moves were not final. Dubuc, 49, has built close ties with Vice since A&E Networks invested $250 million in the company in 2014. Dubuc serves on the board of Vice and is known to be close with Smith.

Dropbox IPO Could Value Company at More Than $7 Billion

Dropbox, the online file storage company, is poised to hold one of the year’s most highly awaited stock market debuts. But whether investors think it is more valuable as a publicly traded company or as a privately held startup is debatable. The San Francisco company said Monday it planned to raise as much as $648 million in its initial public offering, pricing its shares between $16 and $18 each. Dropbox would be valued at roughly $7.5 billion, including restricted stock units and options — well below the $10 billion it commanded during its last private fundraising round.

DowDuPont Executive Chairman to Step Down Ahead of Planned Split

Andrew Liveris will step down as executive chairman of DowDuPont in April, less than a year after completing a merger that created what is now one of the world’s largest chemicals companies, DowDuPont said Monday. The merger of DowDuPont — combining the inventor of Kevlar in DuPont and a giant maker of plastics and chemicals in Dow — was announced in December 2015 and took more than a year to complete. But the combined business is set to split next year into three companies. The company agreed to revise its breakup plan last year after pressure from shareholders.

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