Thomson Corp. has asked European Union regulators to clear its $17.5 billion takeover of Reuters Group PLC, a deal that faces intense regulatory review because of competitive issues.
The European Commission set an initial deadline of Oct. 8 to examine the deal.
A merger would cut from three to two the number of major companies that sell information and trading systems to the financial services industry — a combined Reuters and Thomson and privately owned Bloomberg LP.
Bones found in beef
South Korea said it found bones in the latest shipment of American beef and will revoke import approval for the U.S. facility that processed it.
South Korea has banned bones in beef because of fears of mad cow disease. The meatpacking plant belongs to JBS Swift & Co. of Greeley, Colo., and is one of 36 U.S. plants originally authorized to handle meat for export to South Korea.
The South Korean ban affected the JBS Swift plant in Grand Island, Neb. The company will serve South Korean customers with meat processed at its plants in Utah and Texas.
Hyundai, union agree
Hyundai Motor Co. and its labor union agreed on a wage deal Tuesday, possibly averting a strike over annual salary negotiations for the first time in a decade.
Union leaders accepted Hyundai’s offer of a 5.8 percent increase in basic monthly salary for each worker, an increase in the annual bonus and a pair of separate lump-sum payments, the two sides said.
The deal is tentative and must be voted on Thursday by the union rank-and-file. The union has gone on strike every year but one since it was founded in 1987. Workers had walked off the job twice this year.
Iraqi oil pipeline opens
Iraq’s oil minister said crude oil began to flow from the country’s northern oil-rich Kirkuk region to a Turkish export terminal last week — for the first time since Saddam Hussein was toppled in 2003.
“We’re pumping between 300,000 to 400,000 barrels a day of Kirkuk crude to the Turkish export terminal of Ceyhan,” Hussain al-Shahristani told Dow Jones Newswires.
The pipeline — Iraq’s main export route from Kirkuk to the Turkish Mediterranean port of Ceyhan — has been mostly closed because of sabotage since the U.S.-led war.
The European Commission set an initial deadline of Oct. 8 to examine the deal.
A merger would cut from three to two the number of major companies that sell information and trading systems to the financial services industry — a combined Reuters and Thomson and privately owned Bloomberg LP.
Bones found in beef
South Korea said it found bones in the latest shipment of American beef and will revoke import approval for the U.S. facility that processed it.
South Korea has banned bones in beef because of fears of mad cow disease. The meatpacking plant belongs to JBS Swift & Co. of Greeley, Colo., and is one of 36 U.S. plants originally authorized to handle meat for export to South Korea.
The South Korean ban affected the JBS Swift plant in Grand Island, Neb. The company will serve South Korean customers with meat processed at its plants in Utah and Texas.
Hyundai, union agree
Hyundai Motor Co. and its labor union agreed on a wage deal Tuesday, possibly averting a strike over annual salary negotiations for the first time in a decade.
Union leaders accepted Hyundai’s offer of a 5.8 percent increase in basic monthly salary for each worker, an increase in the annual bonus and a pair of separate lump-sum payments, the two sides said.
The deal is tentative and must be voted on Thursday by the union rank-and-file. The union has gone on strike every year but one since it was founded in 1987. Workers had walked off the job twice this year.
Iraqi oil pipeline opens
Iraq’s oil minister said crude oil began to flow from the country’s northern oil-rich Kirkuk region to a Turkish export terminal last week — for the first time since Saddam Hussein was toppled in 2003.
“We’re pumping between 300,000 to 400,000 barrels a day of Kirkuk crude to the Turkish export terminal of Ceyhan,” Hussain al-Shahristani told Dow Jones Newswires.
The pipeline — Iraq’s main export route from Kirkuk to the Turkish Mediterranean port of Ceyhan — has been mostly closed because of sabotage since the U.S.-led war.
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