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Lufthansa CEO says rising protectionism hampering M&A

The growing trend of protectionism worldwide is hampering cross-border consolidation in the airline industry, the chief executive of German airlines group Lufthansa said on Saturday. “To be honest I see protectionism around the world rising rather than more liberalization,” Carsten Spohr said on Saturday at a Star Alliance event in Zurich, highlighting…

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Lufthansa CEO says rising protectionism hampering M&A

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Tribune gets $70.5 million investment from billionaire Soon-Shiong

Tribune also rejected Gannett Co Inc's latest takeover offer, but said on Monday that it would allow the publisher of USA Today access to some confidential corporate information. Los Angeles-based Soon-Shiong, through his fund Nant Capital LLC, will hold about 12.9 percent in Tribune and join the publisher's board as vice chairman on June 2. Soon-Shiong, a South African-born surgeon, is part-owner of the Los Angeles Lakers basketball team and a founder of two drug companies, which…

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Tribune gets $70.5 million investment from billionaire Soon-Shiong

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Fed’s Bullard: rates too low for too long could be risky

U.S. interest rates being kept too low for too long could cause financial instability in future and stronger market expectations for a rate rise are “probably good”, St. Louis Federal Reserve President James Bullard said on Monday. A relatively tight labor market in the United States may also exert upward pressure on inflation, raising the case for higher interest rates, Bullard added. “I do worry that keeping rates too low for too long could feed into future financial instability even if it…

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Fed’s Bullard: rates too low for too long could be risky

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Bayer defies critics with $62 billion Monsanto offer

By Ludwig Burger and Georgina Prodhan FRANKFURT (Reuters) – German drugs and crop chemicals group Bayer has offered to buy U.S. seeds company Monsanto for $62 billion in cash, defying some of its own shareholders in a bid to grab the top spot in a fast-consolidating farm supplies industry. Monsanto Co's stock rose 5 percent to $106.61 by midday trade on the New York Stock Exchange – well below Bayer's offer price, in a sign that it faces a tough task …

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Bayer defies critics with $62 billion Monsanto offer

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U.S. approves 2016 BMW diesel X5 SUV after EPA review

The Environmental Protection Agency and California Air Resources Board approved the sale of the new 2016 BMW diesel X5 after government testing found no evidence of software to evade emissions standards, the government said Thursday. EPA spokeswoman Laura Allen said Thursday that the agency – along with California and Canada – was doing additional testing before approving new diesel vehicles.

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U.S. approves 2016 BMW diesel X5 SUV after EPA review

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Ford to invest $4.5 billion more in electric car plan by 2020

Ford Motor Co plans to invest an additional $4.5 billion by 2020 in programs to broaden its offerings of hybrids and electric vehicles, Chief Executive Officer Mark Fields said Thursday. Fields said it will launch late next year a new version of its Ford Focus electric car that has a 100-mile range and can recharge in 30 minutes. Ford also plans to add 13 new plug-in hybrid, hybrid or …

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Ford to invest $4.5 billion more in electric car plan by 2020

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Ford union workers ratify new four-year U.S. labor pact: UAW

Ford Motor Co's U.S. union workers narrowly approved a four-year labor contract after a late push for support by United Auto Workers leaders, the UAW said late Friday night. The UAW said 51.3 percent of production workers and 52.4 percent of skilled trades workers voted in favor of the new contract, after more than a week of voting that concluded at U.S. operations of Ford on Friday night.

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Ford union workers ratify new four-year U.S. labor pact: UAW