NO XEROX MERGER IF NO PROGRESS FOR 6 MONTHS, SAYS FUJIFILM

TOKYO: Fujifilm Holdings Corp. said on Thursday it may have no choice but to give up on a $6.1 billion merger with Xerox Corp. if there is no progress in talks with the new board for about half a year. “I don’t have a specific deadline in mind, but it should normally be around six months. If we have nothing by then, it can’t be helped,” chief executive Shigetaka Komori said in his first media session since the US photocopier company scrapped their $6.1 billion merger deal. spokeswoman later clarified this meant Fujifilm could end the merger deal.

US, China reach $1.4 bn sanctions deal over ZTE

WASHINGTON: Washington and Beijing have reached a deal to ease sanctions that brought Chinese smartphone maker ZTE to the brink of collapse, the US commerce department announced on Thursday. The agreement also follows a reported offer by Beijing to ramp up purchases of American goods and thereby drive down the yawning trade deficit between the world’s two largest economies — moving part-way towards meeting a key demand of US President Donald Trump in ongoing trade talks. ZTE will pay a $1 billion penalty, and put another $400 million in escrow to cover possible future violations before being stricken from a sanctions list.

India likely to stick to 3.3% fiscal deficit, says Moody’s

NEW DELHI: Moody’s Investors Service Thursday said it expects India to stick to the estimated fiscal deficit of 3.3% of GDP and even cut capital expenditure to offset any slippage from the budgeted target. It however said any reduction in the excise duty on petroleum and diesel products in view of high crude oil prices, would exert negative pressure on India’s sovereign credit profile. Moody’s had last year upped India’s sovereign rating for the first time in over 13 years to ‘Baa2’ with a stable outlook.

Livspace to spend ₹30 cr on expanding offline stores

BENGALURU: Online home design start-up Livspace, operated by Home Interior Designs E-commerce Pvt. Ltd, plans to pump in ₹30 crore to strengthen its brick and mortar presence, a top firm executive said. The investment is expected to come in tranches over the next nine months to one year. Livspace, which counts Bessemer Venture Partners and Helion Venture Partners, as its investors, is looking to add five or seven new experience centres, to the existing four—one each in Bengaluru and Mumbai and two in Delhi-ncr.

COMPILED FROM MINT REPORTERS AND AGENCIES