Business News Roundup, May 18

Trade

Toshiba

deal OKd

In a prelude to an easing of trade tensions between Washington and Beijing, Chinese officials ended a months-long delay by approving Toshiba’s sale of a majority stake in its lucrative microchip unit to a U.S.-led group.

A lack of approval by Chinese regulators had held up the deal in what was widely seen as a signal from Beijing about how it might punish U.S. businesses if the Trump administration followed through on threats to impose tariffs on $150 billion in Chinese-made goods.