Qualcomm says it will drop its massive $44B offer to acquire NXP

Qualcomm today said it wouldn’t extend its offer to buy NXP for $44 billion today as part of its release for its quarterly earnings, and instead be returning $30 billion to investors in the form of a share buy-back.

So, barring any last-second changes in the approval process in China or “other material developments”, the deal is basically dead after failing to clear China’s SAMR. As the tariff battle between the U.S. and China has heated up, it appears the Qualcomm/NXP deal — one of the largest in the semiconductor industry ever — may be one of its casualties. The White House announced it would impose tariffs on Chinese tech products in May earlier this year, kicking off an extended delay in the deal between Qualcomm and NXP even after Qualcomm tried to close the deal in an expedient fashion. Qualcomm issued the announcement this afternoon, and the company’s shares rose more than 5% when its earnings report came out.

“We reported results significantly above our prior expectations for our fiscal third quarter, driven by solid execution across the company, including very strong results in our licensing business,” Qualcomm CEO Steve Mollenkopf said in a statement with the report. “We intend to terminate our purchase agreement to acquire NXP when the agreement expires at the end of the day today, pending any new material developments. In addition, as previously indicated, upon termination of the agreement, we intend to pursue a stock repurchase program of up to $30 billion to deliver significant value to our stockholders.”

Today’s termination also marks the end of another chapter for a tumultuous couple of months for Qualcomm. The White House blocked Broadcom’s massive takeover attempt of Qualcomm in March earlier this year, and there’s the still-looming specter of its patent spat with Apple. Now Qualcomm will instead be returning an enormous amount of capital to investors instead of tacking on NXP in the largest ever consolidation deal in the semiconductor industry.

Trump and EU officials agree to work toward ‘zero tariff’ deal

Trump and Juncker’s remarks represent a step back from potential trade war after weeks of stalemate, but were short of detail

Donald Trump and European Union officials stepped back from a trade war on Wednesday as they struck a deal to work towards “zero” tariffs, barriers and subsidies.

The EU also agreed to buy billions of dollars worth of American exports, including soya beans and natural gas, and work to reform international trade rules.

Related: Trump and Juncker appear amiable at meeting aimed to avert trade war

Related: Made in China: Trump re-election flags may get burned by his tariffs

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Trump and Juncker appear amiable at meeting aimed to avert trade war

US president and European commission president agreed they want to reduce tariffs, before heading into talks in Washington

Donald Trump has begun trade talks with top European Union officials at the White House, suggesting that the US would be “pleased” if all tariffs, barriers and subsidies could be scrapped.

The US president sat in the Oval Office alongside Jean-Claude Juncker, the European Commission president who is hoping to persuade him not to impose punishing tariffs on car imports and risk an all-out trade war.

Related: Trump defends tariffs despite signs of trouble in global markets

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Virtru teams up with Google to bring its end-to-end encryption service to Google Drive

Virtru, which is best known for its email encryption service for both enterprises and consumers, is announcing a partnership with Google today that will bring the company’s encryption technology to Google Drive.

Only a few years ago, the company was still bolting its solution on top of Gmail without Google’s blessing, but these days, Google is fully on board with Virtru’s plans.

Its new Data Protection for Google Drive extends its service for Gmail to Google’s online file storage service. It ensures that files are encrypted before upload, which ensures the files remain protected, even when they are shared outside of an organization. The customer remains in full control of the encryption keys, so Google, too, has no access to these files, and admins can set and manage access policies by document, folder and team drive.

Virtru’s service uses the Trusted Data Format, an open standard the company’s CTO Will Ackerly developed at the NSA.

While it started as a hack, Virtru is Google’s only data protection partner for G Suite today, and its CEO John Ackerly tells me the company now gets what he and his team are trying to achieve. Indeed, Virtru now has a team of engineers that works with Google. As John Ackerly also noted, GDPR and the renewed discussion around data privacy is helping it gain traction in many businesses, especially in Europe, where the company is opening new offices to support its customers there. In total, about 8,000 organization now use its services.

It’s worth noting that while Virtru is announcing this new Google partnership today, the company also supports email encryption in Microsoft’s Office 365 suite.

Google is baking machine learning into its BigQuery data warehouse

There are still a lot of obstacles to building machine learning models and one of those is that in order to build those models, developers often have to move a lot of data back and forth between their data warehouses and wherever they are building their models. Google is now making this part of the process a bit easier for the developers and data scientists in its ecosystem with BigQuery ML, a new feature of its BigQuery data warehouse, by building some machine learning functionality right into BigQuery.

Using BigQuery ML, developers can build models using linear and logistical regression right inside their data warehouse without having to transfer data back and forth as they build and fine-tune their models. And all they have to do to build these models and get predictions is to write a bit of SQL.

Moving data doesn’t sound like it should be a big issue, but developers often spend a lot of their time on this kind of grunt work — time that would be better spent on actually working on their models.

BigQuery ML also promises to make it easier to build these models, even for developers who don’t have a lot of experience with machine learning. To get started, developers can use what’s basically a variant of standard SQL to say what kind of model they are trying to build and what the input data is supposed to be. From there, BigQuery ML then builds the model and allows developers to almost immediately generate predictions based on it. And they won’t even have to write any code in R or Python.

These new features are now available in beta.

Google launches a standalone version of Drive for businesses that don’t want the full G Suite

If you are a business and want to use Google Drive, then your only option until now was to buy a full G Suite subscription, even if you don’t want or need access to the rest of the company’s productivity tools. Starting today, though, these businesses will be able to buy a subscription to a standalone version of Google Drive, too.

Google says that a standalone version of Drive has been at the top of the list of requests from prospective customers, so it’s now giving this option to them in the form of this new service (though to be honest, I’m not sure how much demand there really is for this product). Standalone Google Drive will come with all the usual online storage and sharing features as the G Suite version.

Pricing will be based on usage. Google will charge $8 per month per active user and $0.04 per GB stored in a company’s Drive.

Google’s idea here is surely to convert those standalone Drive users to full G Suite users over time, but it’s also an acknowledgement on Google’s part that not every business is ready to move away from legacy email tools and desktop-based productivity applications like Word and Excel just yet (and that its online productivity suite may not be right for all of those businesses, too).

Drive, by the way, is going to hit a billion users this week, Google keeps saying. I guess I appreciate that they don’t want to jump the gun and are actually waiting for that to happen instead of just announcing it now when it’s convenient. Once it does, though, it’ll become the company’s eighth product with more than a billion users.