Global Glance: White House open to striking health provision from tax bill; Marvell Technology buying Cavium for $6B

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Here are today’s top business headlines from across the nation and world:

White House open to striking health provision from tax bill

WASHINGTON (AP) — The White House says it’s willing to strike a health-care provision from Senate legislation to cut taxes and overhaul the tax code if the provision becomes an impediment to passing one of President Donald Trump’s top legislative priorities. The provision would repeal a requirement that everyone in the U.S. have health insurance or pay a fine, but has emerged as a major sticking point for Republican Sen. Susan Collins of Maine, whose vote the White House needs. Collins said Sunday that the issue should be dealt with separately. Read more

Marvell Technology buying chip maker Cavium in $6B deal

SANTA CLARA, Calif. (AP) — Marvell Technology is buying fellow chip maker Cavium in a cash-and-stock deal valued at approximately $6 billion. The deal announced Monday could create a rival to Intel and other major computer chip producers. Cavium shareholders will receive $40 per share and 2.1757 Marvell common shares for each Cavium share they own. Cavium Inc. stockholders are expected to own about 25 percent of the combined company. Read more

China’s deep ties to Zimbabwe could grow after Mugabe era

HONG KONG (AP) — Under Robert Mugabe’s decades-long rule over Zimbabwe, China grew into one of the African nation’s biggest investors, trading partners and diplomatic allies. Now, as Zimbabwe appears on the verge of its first transition of power since independence, Beijing is poised to be among the biggest winners. Read more

Keystone XL pipeline faces last major regulatory hurdle

LINCOLN, Neb. (AP) — A Nebraska regulator is set to decide whether to approve the proposed route of the long-delayed Keystone XL oil pipeline through the state. The decision Monday could have a big impact on whether TransCanada Corp. decides to proceed with construction of the project, which was first proposed in 2008 but repeatedly delayed. The five-member Nebraska Public Service Commission vote is the last major regulatory hurdle for Keystone XL, which was approved earlier this year by President Donald Trump in a reversal of the Obama administration’s rejection in 2015. Read more

Report shows Takata recall still moving slowly

DETROIT (AP) — A new report on recalls of potentially deadly Takata air bag inflators shows that automakers have replaced only 43 percent of the faulty parts even though recalls have been under way for more than 15 years. The report, issued Friday by an independent monitor who is keeping tabs on the recalls, also shows that auto companies are only about halfway toward a Dec. 31 goal of 100 percent replacement of older and more dangerous inflators. Normally automakers fix 75 percent of vehicles within 18 months after the recall is announced. Read more

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