Raimond Spekking via Wikimedia Commons

The European Union said Friday it is taking a deeper look at Qualcomm's planned $38 billion deal to acquire chipmaker NXP. It said it will make a decision whether to approve the deal by Oct. 17. U.S. regulators have already approved the deal, but Qualcomm has resisted making concessions to secure approval in Europe.

Europe's concerns: The commission said it is worried that Qualcomm could bundle NXP's near-field communications technology with its strong baseband chip business or that it might charge excessive royalties over NFC. It also expressed concern about the potential of the deal to limit competition in the emerging automotive technology business

Qualcomm's response: Qualcomm says the two companies' technologies are complementary and that it still believes it can address Europe's concerns and close the deal by the end of the year.

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WHO head: There will be no return to the "old normal" in near future

World Health Organization director-general Tedros Adhanom Ghebreyesus. Photo: Fabrice Coffrini/POOL/AFP via Getty Images

World Health Organization director-general Tedros Adhanom Ghebreyesus warned Monday that "there will be no return to the 'old normal' for the foreseeable future," but that there is a "roadmap" for struggling countries to get the virus under control.

Why it matters: A record 230,000 new cases of COVID-19 were reported to the WHO on Sunday, as total infections approach 13 million worldwide.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 1 p.m. ET: 12,970,605 — Total deaths: 570,220 — Total recoveries — 7,154,492Map.
  2. U.S.: Total confirmed cases as of 1 p.m. ET: 3,327,388— Total deaths: 135,295 — Total recoveries: 1,006,326 — Total tested: 40,282,176Map.
  3. Public health: WHO head: There will be no return to the "old normal" for the foreseeable future.
  4. Politics: Mick Mulvaney: "We still have a testing problem in this country."
  5. World: Hong Kong Disneyland closing due to surge.
2 hours ago - Health

SPACs are the new IPOs

Illustration: Aïda Amer/Axios

Churchill Capital Corp. III has agreed to acquire health-cost management services provider MultiPlan at an initial enterprise value of $11 billion, as such deals continue to proliferate as alternatives to IPOs.

Why it matters: This is the largest special purpose acquisition company (SPAC) merger, and it also includes the largest private investment in public equity (PIPE) associated with a SPAC. Existing MultiPlan owners like Hellman & Friedman and General Atlantic will roll over more than 75% of their collective stake and own over 60% of the public company.