Apollo Tyres to buy Cooper Tire for 2.2 billion
Apollo Tyres Ltd of India will acquire Cooper Tire & Rubber Co. for 2.2 billion, preserving Cooper's Findlay Ohio headquarters and three U.S. plants. The deal values Cooper at 35 dollars per share, a 42 percent premium, and will create the world’s seventh largest tire maker with brands Apollo Cooper Roadmaster and Vredestein.
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ESPN to end 3-D broadcasts by year end
ESPN will stop broadcasting in 3-D by year end, citing very limited and non growing viewership. The decision follows years of limited adoption as 3-D TVs failed to gain mass consumer traction and studios shift to higher resolution Ultra HDTV. Disney owns ESPN.
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Strike by air traffic unions disrupts European flights
A Europe wide air traffic workers strike disrupts travel with more than 2,000 French flights canceled and ripple effects across Britain and other EU states. The protests target an EU plan to unify airspace and privatize some services, raising concerns about jobs and safety.
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CEOs See Hiring Up As Sales Outlook Improves
Business Roundtable survey shows 32 percent of its 200 largest U.S. companies expect to expand payrolls in the next six months while 78 percent anticipate higher sales. Given May data, economists caution about federal cuts and higher taxes possibly slowing Q2 growth to about 2 percent.
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