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BRUSSELS (Reuters) - U.S. chipmaker Qualcomm on Tuesday lost a court challenge against a demand for it to provide EU regulators with data in a long-running antitrust case. The world’s no. 1 chipmaker had already provided the information after being ordered to pay a daily fine for withholding it, but the Luxembourg-based General Court’s ruling is expected to strengthen the Commission’s hand in future similar cases. Qualcomm has been under the EU spotlight since 2015, when it was accused of predatory pricing between 2009 and 2011 aimed at forcing out British phone software maker Icera, subsequently bought by Nvidia Corp.

As part of the investigation, the Commission in January 2017 told Qualcomm to provide more information, The company said the request went beyond the investigation’s scope and took its grievance to the General Court, While waiting for a judgment, Qualcomm however acceded to the EU demand to avoid onyx and mother of pearl key cufflinks a daily 580,000 euro ($655,000) penalty for its delayed response, The Luxembourg-based court on Tuesday dismissed the company’s case, “The Court finds that the scope of the investigation as defined in the statement of objections, at the state-of-play meeting of 3 September 2015 and at the hearing on 10 November 2016 has not been extended,” judges said..

NEW DELHI (Reuters) - Ford Motor Co is nearing a deal with Mahindra & Mahindra to form a new joint-venture company in India, a move that will likely see the U.S. automaker cease independent operations in the country, two sources with direct knowledge of the talks told Reuters. The deal would make Ford the latest automaker to pare back its interests in India. At the end of 2017, General Motors Co downsized its Indian operations and stopped selling cars locally, dealing a blow to Prime Minister Narendra Modi’s strategy to encourage domestic manufacturing.

Over two decades, Dearborn, Michigan-based Ford invested more than $2 billion in India but has consistently struggled - it currently has a market share of just 3 percent in India, one of the world’s fastest-growing car markets, Under the terms of the deal being negotiated, Ford will form a new unit in India in which it will hold a 49 percent stake, while Mahindra will own 51 percent, the two sources said, The U.S, carmaker’s Indian unit will transfer most of its current automotive business to the new entity, including its assets onyx and mother of pearl key cufflinks and employees, according to one of the sources..

“It’s like a partial exit (for Ford from India),” the source said. The deal is expected to close within 90 days, the sources said, adding the value of the transaction was not yet clear. They spoke on condition of anonymity because of the sensitivity of the matter. Ford said it does not comment on speculation, but added both companies continue to work together “to develop avenues of strategic cooperation that help us achieve commercial, manufacturing and business efficiencies”.

Mahindra too said it does not comment on speculation, It said in a statement it was “working together in identified areas” with Ford after a 2017 partnership arrangement, and “will announce further definitive agreements as we progress on some of the other areas.”, Currently, Ford manufactures and sells its cars in India through its wholly-owned subsidiary, In 2017, it formed a strategic alliance with Mahindra under which, among onyx and mother of pearl key cufflinks other things, they will build new cars together, including sport-utility vehicles and electric variants..

Ford has been globally restructuring its businesses with an aim to save $11 billion over the next few years. Last month, its Russian joint venture said it would close two assembly plants and an engine factory in Russia, exiting the country’s passenger vehicle market. India has been a major growth area for global car manufacturers but growth has slowed of late - car sales grew by 3 percent to just over 3.3 million units in the last fiscal year to March 31, compared with 8 percent the previous year.

Even so, India is set to become the world’s third-largest car market by 2023 with sales of over 5 million cars annually, according to forecasting firm IHS Markit, Ford’s decision is a stark reminder of how most foreign automakers have struggled to make major inroads in India, a market dominated by players such as Maruti Suzuki and Hyundai Motor Co, Ford sold close to 93,000 vehicles in India last fiscal year, a far cry from market leader Maruti Suzuki which commands a 51 percent market share and sold onyx and mother of pearl key cufflinks more than 1.7 million cars..

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