Finance news

• JPMorgan settles with FDIC, Deutsche Bank in WaMu case

  19-08-2016 23:42
  
  Aug 19 (Reuters) - JPMorgan Chase & Co on Friday
  said it has settled litigation with the FDIC and Deutsche Bank
  AG stemming from its purchase of Washington Mutual
  Inc's banking operations during the...
  
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• Wall Street dips as investors assess rate outlook

  19-08-2016 22:35 via news.yahoo.com
  
  By Caroline Valetkevitch NEW YORK (Reuters) - U.S. stocks edged lower on Friday, led by declines in utility shares as investors weighed prospects for an interest rate increase in the coming months. The telecommunications index , also sensitive to changes in interest rates, fell 0.9 percent. San Francisco Federal Reserve Bank President John Williams late on Thursday said if the U.S. central bank waited too long to raise rates, it could be costly for the economy and that a possible rate hike in Se
  
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• Wall St. dips as investors assess rate outlook

  19-08-2016 22:34 via news.yahoo.com
  
  U.S. stocks edged lower on Friday, led by declines in utility shares as investors weighed prospects for an interest rate increase in the coming months. The telecommunications index , also sensitive to changes in interest rates, fell 0.9 percent. San Francisco Federal Reserve Bank President John Williams late on Thursday said if the U.S. central bank waited too long to raise rates, it could be costly for the economy and that a possible rate hike in September should be in play.
  
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• Wall Street ends lower as utilities weigh

  19-08-2016 22:12 via news.yahoo.com
  
  NEW YORK (Reuters) - U.S. stocks closed slightly lower on Friday, led by declines in shares of utilities as investors weighed prospects for an interest rate increase in the coming months. The Dow Jones industrial average fell 45.13 points, or 0.24 percent, to 18,552.57, the S&P 500 lost 3.15 points, or 0.14 percent, to 2,183.87 and the Nasdaq Composite dropped 1.77 points, or 0.03 percent, to 5,238.38. (Reporting by Caroline Valetkevitch; Editing by James Dalgleish)
  
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• UPDATE 3-Private prison operators shrug off U.S. policy shift

  19-08-2016 22:00
  
  Aug 19 (Reuters) - Shares of the two largest operators of
  U.S. private prisons rebounded on Friday on bets that an Obama
  administration move to phase out the use of some for-profit
  corrections...
  
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• Wall St. inches lower, as investors assess rate outlook

  19-08-2016 21:42 via news.yahoo.com
  
  San Francisco Fed President John Williams late on Thursday said if the U.S. central bank waited too long to raise rates, it could be costly for the economy and that a possible rate hike in September should be in play. The comments added to statements perceived as hawkish from New York Fed President William Dudley earlier in the week. "I think we're due for a pause here as we look for greater clarity over the next couple of weeks," said Terry Sandven, chief equity strategist at U.S. Bank Wealth M
  
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• UPDATE 5-Deere shares jump on quarterly results, cost cuts

  19-08-2016 21:02
  
  Aug 19 (Reuters) - Deere & Co shares soared more than
  12 percent on Friday after the world's largest farm equipment
  manufacturer raised its fiscal year profit outlook and said it
  is redoubling...
  
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• Mediaset seeks court enforcement of Vivendi contract

  19-08-2016 20:48
  
  MILAN (Reuters) - Italian broadcaster Mediasetsaid on Friday it had asked a Milan court to enforce the agreed sale of its pay-TV arm to French media company Vivendi .
  
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• IEX's 'Flash Boys' exchange goes live, aims to disrupt market

  19-08-2016 20:39 via news.yahoo.com
  
  By John McCrank NEW YORK (Reuters) - IEX Group, the upstart trading venue featured in Michael Lewis's book "Flash Boys: A Wall Street Revolt," began operations as a public stock exchange on Friday after more than 2-1/2 years as an off-exchange trading platform. The Investors' Exchange is the 13th U.S. stock exchange and will compete with the likes of Nasdaq Inc , Bats Global Markets and Intercontinental Exchange Inc's New York Stock Exchange. IEX plans to win market share without paying brokers
  
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• Britain's FTSE 100 posts worst weekly loss since mid-June

  19-08-2016 19:07
  
  LONDON, Aug 19 (Reuters) - Britain's top shares index fell
  on Friday to post its worst weekly drop since mid-June as its
  earlier rally up to 14-month highs stalled, with mining stocks
  hit by weaker...
  
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• Zambia opposition leader files court challenge to Lungu's re-election

  19-08-2016 19:01 via news.yahoo.com
  
  Zambia's main opposition leader filed a court petition on Friday challenging President Edgar Lungu's re-election at the helm of Africa's second-largest copper producer, saying the vote was rigged. The southern African nation's economy is buckling under weakened commodity prices, mine closures, rising unemployment, power shortages and soaring food prices that Lungu's rival, Hakainde Hichilema, blames on the current administration. Lungu and the electoral commission, an independent state agency se
  
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• Oil drags on Dow, S&P; Nasdaq boosted by Applied Materials

  19-08-2016 17:23 via news.yahoo.com
  
  The Nasdaq was flat as Applied Materials led technology stocks higher. Energy stocks fell 0.84 percent as Brent crude oil dropped after hitting an eight-week high, with weak fundamentals countering a lift in sentiment over a possible output freeze. Investors were also cagey ahead of next week's meeting of central bankers from around the world in Jackson Hole, Wyoming, where Federal Reserve Chair Janet Yellen is likely to cement expectations for a slow pace of rate increases.
  
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• Fed guessing game moves up a gear as Yellen takes stage

  19-08-2016 17:16 via news.yahoo.com
  
  The debate over whether the U.S. Federal Reserve is readying an interest rate hike will get its umpteenth airing over the coming week, with all eyes on Chair Janet Yellen to provide some clarity. Amid conflicting signals from the Fed in recent days, central bankers from around the world will gather from Aug. 25 for an annual meeting in the mountains of Jackson Hole, Wyoming, with Yellen due to speak the following day. "Yellen could provide her current assessment of the outlook for job growth, in
  
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• Stocks indexes fall, dollar rises on rate-hike bets

  19-08-2016 17:11 via news.yahoo.com
  
  By Dion Rabouin NEW YORK (Reuters) - U.S. stock markets opened lower on Friday and a gauge of major world indexes fell while the dollar strengthened, as investors began to price in a greater likelihood that the Federal Reserve would raise U.S. short-term interest rates this year. "The focus this week has been on the Fed minutes, which on balance to this reader seemed to suggest that there was a greater likelihood of an interest rate increase before the end of the year, and markets have not been
  
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• Economic downturn, Islamist attacks cause hunger to spread in Nigeria: UN

  19-08-2016 16:57 via news.yahoo.com
  
  By Stephanie Nebehay GENEVA (Reuters) - Nigeria's economic slowdown, compounded by Boko Haram attacks, could mean 5.5 million people needing food aid in the volatile northeast by next month, double the current number, the United Nations warned on Friday. As government troops advance against the militants, the somewhat better access for aid workers under military escort to Borno and Yobe states has exposed "catastrophic levels" of suffering and a "vast regional crisis", according to the U.N. refu
  
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• Hiring was healthy in past year in many US swing states

  19-08-2016 16:53 via news.yahoo.com
  
  WASHINGTON (AP) — Hiring has been strong in the past year in many presidential campaign swing states, a possible hurdle for GOP candidate Donald Trump, who has sought to capitalize on economic distress.
  
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• UPDATE 1-K+S wins approval for Unterbreizbach water storage

  19-08-2016 15:41
  
  * Unterbreizbach site gets temporary saline water storage
  approval
  
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• Canadian retail sales disappoint in June as consumers take pause

  19-08-2016 15:35 via news.yahoo.com
  
  By Leah Schnurr OTTAWA (Reuters) - Canadian retail sales unexpectedly fell in June, reinforcing expectations that growth contracted in the second quarter as the economic malaise hit the consumer, who has been a key pillar of support in recent years. Separately, the annual inflation rate cooled as expected in July, according to data released by Statistics Canada on Friday, pulled down by cheaper gasoline prices, even as the cost of food and shelter climbed. The 0.1 percent decline in June retail
  
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• Wall Street opens lower as rate hike timing regains focus

  19-08-2016 15:34 via news.yahoo.com
  
  REUTERS - Wall Street opened lower on Friday after a week of choppy trading as the corporate earnings season winds down and investors again focus on the timing of the Federal Reserve's next interest rate hike. The Dow Jones Industrial Average was down 28.35 points, or 0.15 percent, at 18,569.35. The S&P 500 was off 4.06 points, or 0.19 percent, at 2,182.96. The Nasdaq Composite was down 11.10 points, or 0.21 percent, at 5,229.04. (Reporting by Tanya Agrawal; Editing by Savio D'Souza)
  
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• CORRECTED-OFFICIAL-DoJ decision on private prisons not "death sentence" - analysts

  19-08-2016 15:23
  
  Aug 19 (Reuters) - Shares of private prison operators Geo
  Group Inc and Corrections Corp of America rose
  in premarket trading on Friday, a day after losing more than a
  third of their market value...
  
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• VW eyes transportation deals to boost self-driving car plans

  19-08-2016 15:11
  
  FRANKFURT (Reuters) - Volkswagenis planning further acquisitions in the market for new transportation technologies and services, a leading manager at the German carmaker said, as it seeks to make...
  
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• Wall Street set to open lower as rate hike timing regains focus

  19-08-2016 15:03 via news.yahoo.com
  
  Wall Street looked set to open lower on Friday after a week of choppy trading as the corporate earnings season winds down and investors again focus on the timing of the Federal Reserve's next interest rate hike. Investors were also cagey ahead of next week's annual meeting of central bankers from around the world in Jackson Hole, Wyoming, in which Fed Chair Janet Yellen is likely to cement expectations for a slow pace of rate increases. Recent hawkish comments from two Fed officials have clashed
  
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• Pakistan shares close lower; rupee steady, o/n rates rise

  19-08-2016 14:35
  
  KARACHI, Aug 19 (Reuters) - Pakistan shares closed lower on
  Friday, as cement and fertilizer stocks fell on reports the
  government had cut the price of urea and on market talk that it
  had abolished...
  
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• Futures dip; earnings season ends, rate hike timing in focus

  19-08-2016 13:40 via news.yahoo.com
  
  Investors were also cagey ahead of next week's annual meeting of central bankers from around the world in Jackson Hole, Wyoming, in which Fed Chair Janet Yellen is likely to cement expectations for a slow pace of rate increases. Recent hawkish comments from two Fed officials have clashed with the central bank's position that more data is needed before interest rates can rise, according to the minutes of the Fed's July meeting released this week. Its recent run to record highs has been partly sup
  
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• Tunisia's PM-designate to name new finance minister: sources

  19-08-2016 13:37 via news.yahoo.com
  
  Tunisia's prime minister-designate plans to retain the current defense, foreign and interior ministers but will name a World Bank official to take on the finance portfolio, sources close to coalition negotiations said on Friday. Youssef Chahed, named premier after his predecessor was ousted in a no-confidence vote last month, has been in talks with the two main governing parties, the secularist Nidaa Tounes and Islamist Ennahda, over cabinet posts. Chahed, a member of Nidaa Younes and ally of Pr
  
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• Exclusive: Hong Kong exchange, Tradeweb in talks over 'Bond Connect' platform

  19-08-2016 13:21
  
  HONG KONG (Reuters) - The Hong Kong exchange is in talks with Tradeweb, a fixed income trading platform, to connect China's $7.5 trillion bond market with overseas investors, three sources with...
  
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• World stocks slip as investors eye timing of Fed rate hike

  19-08-2016 13:16 via news.yahoo.com
  
  HONG KONG (AP) — World stock markets turned lower on Friday as investors speculated whether the U.S. Federal Reserve will raise interest rates in coming months.
  
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• Nigeria to allocate $180 mln more in capital spending -finance minister

  19-08-2016 13:14 via news.yahoo.com
  
  Nigeria's government is to allocate 60 billion naira ($180 million) more spending on capital projects as part of the 2016 budget and in addition to earlier releases, Finance Minister Kemi Adeosun said on Friday, as it tries to boost the economy. Government capital spending so far has exceeded 400 billion naira this year, Adeosun said, despite the record budget being held up for months by wrangling between President Muhammadu Buhari and parliament.
  
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• SWFs pull $16.2 billion from external managers in second-quarter as selling accelerates

  19-08-2016 13:13
  
  LONDON (Reuters) - Sovereign wealth funds pulled $16.2 billion from third-party asset managers in the second quarter according to the latest data from research firm eVestment, up from a revised $10.1...
  
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• Small July surplus could limit Hammond's fiscal reset for UK

  19-08-2016 13:04 via news.yahoo.com
  
  By William Schomberg and Andy Bruce LONDON (Reuters) - Britain's public finances showed a smaller-than-expected budget surplus in the first month after the vote to leave the European Union, potentially limiting the ability of new Chancellor Philip Hammond to give the economy a big boost later this year. Britain ran a budget surplus - excluding state-owned banks - of nearly 1 billion pounds last month, lower than the almost 1.2 billion pounds in the same month last year, leaving it off track to m
  
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• European stocks retreat, Tokyo advances

  19-08-2016 12:34 via news.yahoo.com
  
  European stock markets slid on Friday as traders booked profits in the absence of key data heading into the weekend pause, analysts said.
  
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• After years of delay, London's 'night tube' trains start running

  19-08-2016 12:19 via news.yahoo.com
  
  By Costas Pitas LONDON (Reuters) - The world's oldest underground rail network takes a big step forward this weekend when the "tube" starts all-night Friday and Saturday services after years of obstruction and delay. Now that agreement has eventually been reached, trains will run between north and south London and from east to west, before being rolled out on three further lines including to Heathrow Airport. "It will support thousands of workers who have to travel to or from work at night,
  
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• BRIEF-ZM Myslaw shareholders resolve to dissolve company and put it into liquidation

  19-08-2016 12:02
  
  * Its shareholders resolve to dissolve company and put it
  into liquidationSource text for Eikon:Further company coverage:
  (Gdynia Newsroom)
  
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• Mauritius raises 2016 tourism earnings forecast by 1.8 pct

  19-08-2016 11:16 via news.yahoo.com
  
  Mauritius said on Friday that tourism revenue in 2016 will be 1.8 percent higher than it had previously forecast, after a surge in visitors during the first half. Tourism is a valuable source of foreign exchange for the tiny Indian Ocean country known for its luxury spas and beaches. Earnings from the sector are now expected to reach 56 billion rupees this year, up from an earlier forecast of 55 billion in May, according to Statistics Mauritius, an official body.
  
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• Asia stocks cautious, oil price holds above $50

  19-08-2016 11:14 via news.yahoo.com
  
  Asian stock markets were cautious Friday even after gains on Wall Street and as oil entered a bull market. The oil price also continued its upward trend overnight, with Brent crude holding above $50 a barrel on official data showing lower US crude stockpiles and hints of a possible production freeze.
  
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• Britain's FTSE edges towards biggest weekly loss since June

  19-08-2016 11:10
  
  LONDON, Aug 19 (Reuters) - Britain's top share index edged
  lower on Friday and was set for its biggest weekly drop since
  June as a strong rally to 14-month highs stalled.
  
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• China says Australia grid sale decision will hurt trade relationship

  19-08-2016 10:19
  
  BEIJING (Reuters) - Australia's decision to block grid sale to Chinese firms showed uncertainty in its investment environment and will seriously hurt the willingness of Chinese companies to invest in...
  
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• London's mayor says overnight subway will boost economy

  19-08-2016 09:54 via news.yahoo.com
  
  LONDON (AP) — London's mayor says the city has meticulously planned the introduction of limited overnight services on the subway — services that the city hopes will offer a boost to the local economy.
  
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• Most Asian stock markets gain as oil prices near eight-week highs

  19-08-2016 09:27 via news.yahoo.com
  
  Most Asian stock market indices were trading in the green on Friday (19 August) with the Shanghai Composite up 0.06% at 3,105.83 as of 6.46am GMT, amid an increase in oil prices, which are now said to be near their eight-week highs.
  
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• DR Congo cuts growth forecast for 2016 to 4.3 pct

  19-08-2016 08:46 via news.yahoo.com
  
  Democratic Republic of Congo has cut its economic growth forecast for 2016 to 4.3 percent, compared with 6.9 percent last year, due to the impact of low commodity prices on its mining-dependent economy, the prime minister’s office said on Thursday. Production of cobalt, the metal used in lithium-ion batteries and of which Congo is the world's leading producer, slid by 13 percent over the same period.  The statement from the prime minister's office forecast inflation of 3.3 percent thi
  
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• Funding cuts, insurgency hamper Afghan goal to clear mines by 2023

  19-08-2016 08:26 via news.yahoo.com
  
  By Josh Smith and Mirwais Harooni SALANG PASS, Afghanistan (Reuters) - Afghanistan's campaign to clear millions of landmines left by the Soviet invasion and ensuing civil war is in danger of stalling, as international aid slumps and militant violence makes more of the country inaccessible. "The longer these minefields last, the higher the human cost," said Mohammad Shafiq Yosufi, chief of the Afghan government's Directorate of Mine Action Coordination. "They kill and maim people, prevent economi
  
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• BRIEF-Pacific Exploration & Production says provides summary of alternative proposal

  19-08-2016 07:56
  
  Aug 19 (Reuters) - Pacific Exploration And Production Corp
  :
  
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• Asia stocks cautious but oil price holds above $50

  19-08-2016 05:36 via news.yahoo.com
  
  Hong Kong (AFP) - Asia stocks markets moved cautiously in early trade Friday despite a positive lead from Wall Street and further overnight gains in the price of oil.
  
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• Toshiba Medical joins bid to by Takeda unit: Nikkei

  19-08-2016 03:13
  
  TOKYO (Reuters) - Toshiba Medical Systems, a medical equipment company that is being bought by Canon Inc , joined a race to buy a subsidiary of Takeda Pharmaceutical Co , the Nikkei business daily...
  
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• Asia rides Wall Street higher, buoyant crude nears six-week highs

  19-08-2016 02:47 via news.yahoo.com
  
  By Shinichi Saoshiro TOKYO (Reuters) - Asian stocks edged up on Friday as Wall Street benefited from buoyant crude oil prices and expectations U.S. borrowing costs will remain at stimulatory levels at least until year-end. Japan's Nikkei added 0.5 percent and South Korea's Kospi tacked on 0.2 percent. MSCI's broadest index of Asia-Pacific shares outside Japan stood steady.
  
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• Asia rides Wall St. higher, buoyant crude nears six-week highs

  19-08-2016 02:45 via news.yahoo.com
  
  By Shinichi Saoshiro TOKYO (Reuters) - Asian stocks edged up on Friday as Wall Street benefited from buoyant crude oil prices and expectations U.S. borrowing costs will remain at stimulatory levels at least until year-end. Japan's Nikkei added 0.5 percent and South Korea's Kospi tacked on 0.2 percent. MSCI's broadest index of Asia-Pacific shares outside Japan stood steady.
  
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• Lawyer accused of fraud by U.S. in BP oil spill case is acquitted

  19-08-2016 01:34 via news.yahoo.com
  
  A prominent Texas lawyer was acquitted on Thursday of charges he made up thousands of fake clients to sue BP Plc for damages that the oil company caused in the 2010 Gulf of Mexico spill, court records show. Mikal Watts was among five defendants found not guilty by a Mississippi federal jury of charges related to an alleged scheme to defraud a program set up by BP to compensate people who suffered economic losses from the spill. Two other defendants were found guilty.
  
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• Uber buys self-driving truck startup Otto; teams with Volvo

  19-08-2016 01:31
  
  (Reuters) - Ride service Uber Technologies Inc said on Thursday it acquired self-driving trucks startup Otto and formed a $300 million alliance with Volvo Car Group to develop self-driving cars.
  
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• U.S. fund investors look abroad as rate hike fears ease

  19-08-2016 01:03
  
  NEW YORK (Reuters) - U.S. investors showed more confidence putting new money into international markets in the weekly period through Aug. 17, Lipper data showed on Thursday, pumping $2.7 billion into...
  
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• Emerson Electric to buy Pentair's valves business for $3.15 billion

  19-08-2016 01:02
  
  (Reuters) - U.S. factory automation equipment maker Emerson Electric Cosaid on Thursday it would buy pump manufacturer Pentair Plc'svalves & controls business for $3.15 billion in cash, as it...
  
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