Chip Shot

●● The European Commission has accused U. S. chipmaker Qualcomm of engaging in anticompetitive behavior. Regulators say Qualcomm’s sales tactics, including paying a smartphone manufacturer to use its chips exclusively, have abused its position as the world’s leading handset chipmaker and pushed out competitors. Qualcomm says its practices comply with EU laws. ●● Anglo American, one of the world’s biggest mining companies, is closing mines and cutting jobs to cope with the collapse in commodity prices. The London-based company plans to reduce its workforce to 50,000 from 135,000 as metal prices remain near their lowest in six years. ●● The Federal Trade Commission has asked a federal court to delay the $6.3 billion merger of Staples and Office Depot, pending the outcome of an administrative challenge scheduled for May. The FTC opposes the merger, saying it would “create a giant compared to the next largest vendor” and lead to price increases. Both retailers have vowed to fight the agency’s move. ●●q Volkswagen all but eliminated one front in its pollution scandal. The company said errors in carbon dioxide emissions discovered in November are slight and affect only a fraction of the 800,000 vehicles involved in an internal investigation. The carmaker still faces as much as $9.4 billion in legal damages after it admitted to duping emissions tests on diesel models. ●●✌ Yahoo! scrapped its plan to sell a $31 billion stake in Chinese e-commerce company Alibaba Group after pressure from investors concerned about the tax risks.

Cleveland Cavaliers star Lebron James signed a lifetime endorsement contract with Nike. Financial terms weren't disclosed, but the deal is said to be worth more than $500 million.