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Jesus Seade, who represented Mexico’s President-elect Andres Manuel Lopez Obrador in the wider trade talks, said the current Mexican government was leading the metals talks but that he had spoken to U.S. Trade Representative Robert Lighthizer on the matter. “I have had a couple of calls with Lighthizer, and it is along those lines, to manage volumes etc with Mexico and with Canada,” Seade said in an interview with Reuters, declining to give more details about the content of the discussions.
Seade said the issue of tariffs on Mexican steel had to be resolved before the new government takes office on Dec, 1, “There is a month-and-a-half left, so it needs to be resolved now,” he said, Mexico’s economy ministry, which leads trade talks, did not immediately respond to a request for comment, Mexico is a net importer of steel from the United States, although it did export $2.5 billion of custom cufflinks and tie clip iron and steel to its northern neighbor in 2017, according to the U.S, Census Bureau..
In March, the United States signed a deal with Seoul where in exchange for an end to steel tariffs, South Korea agreed to cut exports by 30 percent of the past three years’ average. During talks on the new United States-Mexico-Canada Agreement (USMCA), U.S. officials told Canada they wanted a similar arrangement for steel and aluminum, one source told Reuters last week, declining to give specific details. Canada rejected the demand and made clear any cap on the metals would have be at a level higher than current exports to allow room for shipments to grow.
(Reuters) - Alphabet Inc’s Google on Monday became the latest company to drop out of a business conference in Saudi Arabia, Pressure has mounted on Saudi Arabia since prominent Saudi journalist Jamal Khashoggi, a U.S, resident, Washington Post columnist and critic of Saudi policies, went missing, He was last seen entering the Saudi consulate in Istanbul on Oct, 2, custom cufflinks and tie clip Google said in a statement that Google Cloud Chief Executive Diane Greene would not attend the Future Investment Initiative Summit scheduled to be held in Riyadh starting Oct, 23..
(Reuters) - Cloud technology company Twilio Inc said on Monday it would buy email technology firm SendGrid Inc in an all-stock deal valued at about $2 billion, combining two firms that handle communications between apps and their users. While Twilio’s technology helps its customers like Airbnb Inc and Lyft Inc send text and other types of messages to its users, SendGrid focuses on email. “We started Twilio by building voice, then SMS, video, web and mobile chat, channels like Facebook Messenger, WhatsApp. Along the way, email has been something that customers have asked us about,” Twilio Chief Executive Jeff Lawson said on a conference call explaining the acquisition.
SendGrid CEO Sameer Dholakia told Reuters in an interview that many of Twilio’s products fetch a higher amount of revenue per user than do SendGrid’s, The email firm, which will operate as a standalone unit within Twilio under Dholakia, could boost its revenue by selling Twilio services custom cufflinks and tie clip to SendGrid customers, The two have few joint customers, “A huge part of the calculus for both sides was the cross-sell opportunity,” Dholakia said, Twilio will offer 0.485 share of its stock for each SendGrid Class A common share, The deal is worth about $36.92 per share, a premium of 19.4 percent to SendGrid’s closing price on Monday..
SendGrid shares rose 14.5 percent to $35.40 in extended trading, while Twilio fell 4.5 percent to $73. “While it’s expensive at 10 times [SendGrid’s] 2019 revenue, I think it is a good deal for Twilio that should work out well over the long term,” Pat Walravens, an analyst for JMP Securities, told Reuters, noting that Salesforce.com Inc recently acquired MuleSoft Inc for a price equal to 12 times MuleSoft’s future revenue. Analysts also noted that it would have been hard and expensive for Twilio to build out its own email capabilities.
“There are separate laws custom cufflinks and tie clip that are regulating email, So it’s outside of their wheel house, and in my opinion it would have taken them some time if they decided to do it organically,” Stephen Bersey a senior analyst at MUFG Securities, told Reuters, Meanwhile, Twilio’s Lawson told investors on the conference call that two partners of Bessemer Venture Partners, Byron Deeter, who is on the boards of both companies, and Jeff Epstein, a Twilio board member, recused themselves from the deal talks, Bessemer invested in both firms before they went public and owns about 13.7 percent of SendGrid’s shares..