Latest news with #exportlicense
Bloomberg
5 hours ago
- Business
- Bloomberg
China Says Carrying Out US Trade Framework, Rejects ‘Coercion'
China is reviewing export license applications for restricted items as part of efforts to implement its trade framework with the US, the Commerce Ministry said Friday, responding to recent US moves to ease export controls. Both countries have been acting on the outcomes of the London framework, the ministry said in a statement.
Bloomberg
19 hours ago
- Business
- Bloomberg
Stock Movers: Cadence Soars, DuPont Jumps, Newmont declines
Cadence (TICKER CDNS +4%) - the US lifted export license requirements for chip design software sales in China - Chinese customers represent 11% of Cadence sales - The company's China sales rose at a 15% annualized rate in fiscal 2021-2024, but dropped to less than 12% of revenue in 2024 -- top line would've been in danger had there not been a shift DuPont (TICKER DD +1.4%) - Private equity groups Advent International and Platinum Equity are vying to buy $2b worth of assets, including the Kevlar bulletproof brand from DuPont, the Financial Times reports - The rival groups are the frontrunners to secure the assets and are expected to submit final-round bids for Kevlar and Nomex this month - DuPont may still opt to keep Kevlar and Nomex and other bidders could emerge, FT reports Newmont (TICKER NEM -0.4%) - UBS raised the target on Newmont Corp. to $68 from $60 and Maintains a buy rating; new PT implies a 13% increase from last price - Reporting later this month; Bloomberg Intelligence warns that 2Q Ebitda could decline modestly as gold's 15% price jump doesn't quite offset the drop in sales after the company completed its asset-disposal program. - solid performance at some of its core assets could lift gold output to 1.385 million ounces, which means the consensus for Ebitda at $100-200 million could be too low
