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Intel abandons $5.4 bn deal to buy Israel's Tower Semiconductor
Intel abandons $5.4 bn deal to buy Israel's Tower Semiconductor
by  AFP

Intel Corporation has terminated a $5.4 billion deal to buy Tower Semiconductor in Israel after failing to get needed regulatory approval, the US chip maker announced Wednesday. Tower and Intel agreed to abandon the deal after there were "no indications regarding certain regulatory approval" by the merger contract deadline on Tuesday, according to the companies.

China's Country Garden says 'major uncertainties' over bond payments
China's Country Garden says 'major uncertainties' over bond payments
by  AFP

China's troubled property giant Country Garden said Wednesday there were "major uncertainties" over payments on its bonds, with fears swirling about the health of the country's heavily indebted real estate sector. "There are currently major uncertainties in the redemption of corporate bonds," the company said in a filing to the Shanghai stock exchange on Wednesday.

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