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Ownership changes

February 18, 2020 - 8:00 am

Franklin Resources buying Legg Mason for $4.5 billion

SAN MATEO, Calif. (AP) — Franklin Resources is buying competitor Legg Mason for $4.5 billion, creating a financial company with a combined $1.5 trillion in assets under management. Franklin Resources Inc., which operates as Franklin Templeton, said Tuesday that it will pay $50 for each Legg Mason...
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February 18, 2020 - 5:26 am

Italian bank Intesa SanPaolo offers to buy smaller rival

MILAN (AP) — Italian bank Intesa SanPaolo announced Tuesday a 4.9 billion-euro ($5.3 billion) takeover offer for smaller rival UBI Banca - an unexpected move, even if experts have long called for consolidation in the sector. The Intesa SanPaolo share-swap offer values UBI Banca shares at a 28%...
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FILE - In this Monday, May 14, 2018 file photo, a TGV high-speed train at the Saint-Charles train station, in Marseille, southern France. French train maker Alstom said Monday Feb. 17, 2020, that it is in talks to possibly take over the train business of Bombardier, the Canadian aerospace and engineering company. (AP Photo/Claude Paris, file)
February 17, 2020 - 1:33 pm

French TGV maker Alstom in talks to buy Bombardier rail unit

PARIS (AP) — French train maker Alstom has announced an multibillion-euro offer to buy the rail business of Canadian engineering firm Bombardier, as it tries to bulk up to compete with big rivals, particularly from China. Alstom, which makes the French TGV high-speed trains, said in a statement...
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FILE - In this Feb. 19, 2017, file photo, Wei Jianjun, chairman of Great Wall Motors Ltd., gestures as he speaks during an event celebrating it sales passing the one million mark, at the Great Wall headquarters in Baoding in north China's Hebei province. General Motors decision to pull out of Australia, New Zealand and Thailand as part of a strategy to exit markets that don't produce adequate returns on investments raised dismay Monday, Feb. 17, 2020 from officials concerned over job losses. The words behind reads "By 2020, Haval SUV sales will pass 2 million, become the world's biggest specialty SUV brand." (AP Photo/Andy Wong)
February 17, 2020 - 7:29 am

GM plans to pull out of Australia, New Zealand and Thailand

DETROIT (AP) — General Motors decision to pull out of Australia, New Zealand and Thailand as part of a strategy to exit markets that don't produce adequate returns on investments raised dismay Monday from officials concerned over job losses. The company said in a statement Sunday that it plans to...
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FILE - In this Feb. 19, 2017, file photo, Wei Jianjun, chairman of Great Wall Motors Ltd., gestures as he speaks during an event celebrating it sales passing the one million mark, at the Great Wall headquarters in Baoding in north China's Hebei province. General Motors decision to pull out of Australia, New Zealand and Thailand as part of a strategy to exit markets that don't produce adequate returns on investments raised dismay Monday, Feb. 17, 2020 from officials concerned over job losses. The words behind reads "By 2020, Haval SUV sales will pass 2 million, become the world's biggest specialty SUV brand." (AP Photo/Andy Wong)
February 17, 2020 - 7:12 am

GM plans to pull out of Australia, New Zealand and Thailand

DETROIT (AP) — General Motors decision to pull out of Australia, New Zealand and Thailand as part of a strategy to exit markets that don't produce adequate returns on investments raised dismay Monday from officials concerned over job losses. The company said in a statement Sunday that plans to wind...
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FILE - In this Monday, May 14, 2018 file photo, a TGV high-speed train at the Saint-Charles train station, in Marseille, southern France. French train maker Alstom said Monday Feb. 17, 2020, that it is in talks to possibly take over the train business of Bombardier, the Canadian aerospace and engineering company. (AP Photo/Claude Paris, file)
February 17, 2020 - 6:05 am

French TGV maker Alstom in talks to buy Bombardier rail unit

PARIS (AP) — French train maker Alstom said Monday it is in talks to buy the rail business of Canadian engineering firm Bombardier, as it tries to bulk up to compete with big rivals, particularly from China. Alstom, which makes the French TGV high-speed trains, said in a brief statement that the...
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FILE - In this Feb. 19, 2017, file photo, Wei Jianjun, chairman of Great Wall Motors Ltd., gestures as he speaks during an event celebrating it sales passing the one million mark, at the Great Wall headquarters in Baoding in north China's Hebei province. General Motors decision to pull out of Australia, New Zealand and Thailand as part of a strategy to exit markets that don't produce adequate returns on investments raised dismay Monday, Feb. 17, 2020 from officials concerned over job losses. The words behind reads "By 2020, Haval SUV sales will pass 2 million, become the world's biggest specialty SUV brand." (AP Photo/Andy Wong)
February 17, 2020 - 1:27 am

GM plans to pull out of Australia, New Zealand and Thailand

DETROIT (AP) — General Motors decision to pull out of Australia, New Zealand and Thailand as part of a strategy to exit markets that don't produce adequate returns on investments raised dismay Monday from officials concerned over job losses. The company said in a statement Sunday that plans to wind...
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FILE - This Jan. 27, 2020, file photo shows a General Motors logo at the General Motors Detroit-Hamtramck Assembly plant in Hamtramck, Mich. GM is pulling out of Australia, New Zealand and Thailand as part of a strategy to exit markets that don't produce adequate returns on investments, the company said in a statement Sunday, Feb. 17. (AP Photo/Paul Sancya, File)
February 17, 2020 - 12:59 am

GM plans to pull out of Australia, New Zealand and Thailand

DETROIT (AP) — General Motors decision to pull out of Australia, New Zealand and Thailand as part of a strategy to exit markets that don't produce adequate returns on investments raised dismay Monday from officials concerned over job losses. The company said in a statement Sunday that plans to wind...
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FILE - This Jan. 27, 2020, file photo shows a General Motors logo at the General Motors Detroit-Hamtramck Assembly plant in Hamtramck, Mich. GM is pulling out of Australia, New Zealand and Thailand as part of a strategy to exit markets that don't produce adequate returns on investments, the company said in a statement Sunday, Feb. 17. (AP Photo/Paul Sancya, File)
February 16, 2020 - 10:14 pm

GM plans to pull out of Australia, New Zealand and Thailand

DETROIT (AP) — General Motors says it's pulling out of Australia, New Zealand and Thailand as part of a strategy to exit markets that don't produce adequate returns on investments. The company said in a statement Sunday that it will wind down sales, engineering and design operations for its...
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FILE - This Jan. 27, 2020, file photo shows a General Motors logo at the General Motors Detroit-Hamtramck Assembly plant in Hamtramck, Mich. GM is pulling out of Australia, New Zealand and Thailand as part of a strategy to exit markets that don't produce adequate returns on investments, the company said in a statement Sunday, Feb. 17. (AP Photo/Paul Sancya, File)
February 16, 2020 - 10:00 pm

GM plans to pull out of Australia, New Zealand and Thailand

DETROIT (AP) — General Motors says it's pulling out of Australia, New Zealand and Thailand as part of a strategy to exit markets that don't produce adequate returns on investments. The company said in a statement Sunday that it will wind down sales, engineering and design operations for its...
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