A surface-to-air missile shot down a U.S. military drone over the Strait of Hormuz, a U.S. official said Thursday.World Politicsread more
President Donald Trump has publicly blamed the Federal Reserve's interest rates hikes for holding back U.S. economic growth.The Fedread more
China's President Xi Jinping arrived in Pyongyang on Thursday morning for a state visit to North Korea — the first by a Chinese state leader in 14 years. Experts say the move...Asia Politicsread more
Gold prices spiked in the afternoon of Asian trading hours on Thursday after a dovish U.S Federal Reserve opened the door to further rate cuts, and the 10-year Treasury yield...Metalsread more
The Fed came very close to promising a rate cut Wednesday, and now markets are focused on a possible July rate cut.Market Insiderread more
Ireland has become the main regulator enforcing rules on how big tech companies collect and process user data under Europe's privacy law called GDPR.Technologyread more
Waymo has signed a deal with Renault and Nissan to develop self-driving cars and trucks for use in France, Japan and possibly other countries in Asia, including China, the...Autosread more
It's crucial to note that the culprit behind attacks on two commercial tankers last week has not been conclusively proven.World Politicsread more
"No U.S. drone was operating in Iranian airspace today," a U.S. Central Command spokesman said, according to NBC News.World Politicsread more
The Fed left interest rates unchanged at its monetary policy meeting. The U.S. central bank did, however, drop the word "patient " from its statement and said it would "act as...Asia Marketsread more
As the presidents of U.S. and China near a highly anticipated meeting on trade, the gap in both sides' expectations regarding a deal remains wide.World Politicsread more
"I think we got caught up in a trade war," he told CNBC's "Squawk on the Street " on Thursday. "That being said, we thought it was important to bring certainty to the process, move on and really focus on the things that we said are going to drive value."
Shares of Qualcomm were up more than 4 percent midday Thursday thanks to a strong earnings report and a plan to repurchase $30 billion in stock. Here are the key numbers:
Qualcomm announced Wednesday that it was planning to end its proposed deal to acquire rival NXP if China continued to withhold regulatory approval amid rising trade tensions with the U.S. The deal's termination was finalized Thursday when China's approval never came, and Qualcomm will be responsible for paying the $2 billion breakup fee.
However, Mollenkopf said that he did not see the trade war as a risk to Qualcomm's overall business in China.
"Our business in China remains quite strong," Mollenkopf said, pointing to the company's earnings report. "It's just a very difficult environment to do large M&A, at least today."
The halted merger was not the only setback for the San Diego-based company. Qualcomm also confirmed on a call with investors rumors that Apple will not use Qualcomm's modems in its next product launch.