Reuters UK/EU - Squid Business

IAG’s bid to buy out Air Europa may reduce competition, EU says

By Foo Yun Chee BRUSSELS (Reuters) -British Airways owner IAG’s bid to buy out Air Europa may reduce competition on domestic, short-haul and long-haul routes, EU antitrust regulators said on Wednesday as they opened a full-scale probe into the 400-million-euro ($435.9 million) deal. The deal underlines the wave of consolidation among airlines, with Germany’s Lufthansa …

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Abu Dhabi-backed firm’s 11th hour tweaks to Telegraph deal draws new UK scrutiny

By Muvija M LONDON (Reuters) -An Abu Dhabi-backed group has tweaked its takeover plan for Britain’s Telegraph newspaper, prompting another round of government scrutiny and a scolding from a minister over the last-minute changes. Growing alarm over possible foreign meddling in editorial matters at the politically influential, right-leaning title led media minister Lucy Frazer to …

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British billionaire Joe Lewis pleads guilty to US insider trading charges

By Jody Godoy NEW YORK (Reuters) -British billionaire Joe Lewis pleaded guilty to U.S. insider trading charges on Wednesday after being accused last year of a scheme that prosecutors said was designed to enrich friends and associates, and apologized to a judge for his conduct. Lewis, 86, pleaded guilty to one count of conspiracy to …

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British equities hit one-week high as China pledges boost sentiment

By Sruthi Shankar and Khushi Singh (Reuters) -British equities touched a one-week high on Wednesday, bolstered by China-exposed stocks following measures taken by the Chinese central bank to support the economy, while sterling rallied after a survey hinted at high-for-longer interest rates. The exporter-heavy FTSE 100 ended 0.6% higher, while the domestically oriented FTSE 250 …

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Private equity firm Yellow Wood close to deal to acquire ChapStick-sources

By Abigail Summerville (Reuters) – Private equity firm Yellow Wood Partners is in advanced talks to acquire ChapStick, a lip balm brand, from Haleon Plc, the former consumer health division of drug developer GSK Plc, four people familiar with the matter said. Yellow Wood has prevailed in an auction for ChapStick that Haleon had launched, …

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Spotify to start in-app purchases on iPhone in Europe after DMA takes effect

(Reuters) -Spotify users in Europe can start to buy audiobooks and subscription plans from within the music-streaming app from March as a result of the region’s new competition law for Big Tech, the Swedish company said on Wednesday. The move will help the company avoid Apple’s 30% fee for purchases through its App Store, which …

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French farmers block roads, urge help to safeguard livelihoods

By Stephane Mahe, Nacho Doce and Gus Trompiz PLOUISY, France (Reuters) -Protesting farmers blocked several roads across France on Wednesday to press the government to loosen regulations and help protect them from cheap imports and rising costs. Farmers said the protests, with long lines of tractors snarling roads and piles of hay dropped in front …

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UBS names new head of $1.6 trillion asset management business

By John Revill ZURICH (Reuters) -UBS has appointed insider Aleksandar Ivanovic as the new head of its $1.6 trillion asset management business as the Swiss bank pushes ahead with the integration of Credit Suisse. UBS bought Credit Suisse for about 3 billion Swiss francs ($3.46 billion) in a rescue deal last year and the integration …

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EU lays out economic security plans, with mind on China

By Philip Blenkinsop BRUSSELS (Reuters) – The European Commission set out plans on Wednesday to bolster the European Union’s economic security through closer scrutiny of foreign investments and more coordinated controls on exports and outflows of technologies to rivals such as China. The EU executive’s package is a response to the multiple risks exposed by …

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Thou shall be a whistleblower but not an anonymous one, new Vatican rules say

By Philip Pullella VATICAN CITY (Reuters) – The Vatican, which over the centuries has codified all aspects of faith, morals, doctrine and dissent, on Wednesday announced a new entry – the rights and responsibilities of a whistleblower. The Vatican released a seven-page legal document and a press statement on the new rules, which take effect …

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