Blackstone offers $2.3 billion for Australia's Investa Office Fund

(Reuters) – Australia’s Investa Office Fund (IOF) (IOF.AX) said on Monday it has received a A$3.08 billion ($2.33 billion) unsolicited non-binding buyout proposal from the Blackstone group (BX.N). FILE PHOTO: The ticker and trading information for Blackstone Group is displayed at the post where it is traded on the floor of the New York Stock Exchange (NYSE), New York, NY, U.S., April 4, 2016. REUTERS/Brendan McDermid/File Photo The directors of IOF manager Investa Listed Funds Management said they plan to unanimously recommend the offer, which equates to a distribution adjusted…

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Australia increases Takata air bags recall to just under four million cars

SYDNEY (Reuters) – Australia said on Monday it was recalling an additional 1.1 million cars fitted with Takata Corp TKTDQ.PK air bags, increasing the size of the country’s biggest ever compulsory recall to just under four million cars. FILE PHOTO: The logo of Takata Corp is seen on its display at a showroom for vehicles in Tokyo, Japan, February 9, 2017. REUTERS/Toru Hanai/File Photo The Takata air bags have been linked to at least 18 deaths and 180 injuries globally because the inflators can rupture and shoot metal fragments into…

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Australia orders recall of further 1.1 million cars fitted with Takata air bags

SYDNEY (Reuters) – Australia on Monday increased the size of its biggest compulsory product recall as it said an additional 1.1 million cars fitted with Takata Corp TKTDQ.PK air bags would be recalled. FILE PHOTO: The logo of Takata Corp is seen on its display at a showroom for vehicles in Tokyo, Japan, February 9, 2017. REUTERS/Toru Hanai/File Photo Australia earlier this year demanded that manufacturers of nearly 3 million vehicles that carried the air bags, linked to at least 18 deaths and 180 injuries globally because the inflators can…

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German carmakers morally obliged to refit dirty diesels: minister

BERLIN (Reuters) – German carmakers have a moral obligation to refit heavily polluting diesel vehicles on the country’s roads, environment minister Svenja Schulze said, but conceded that the government had no legal means to make them do so. A car passes a traffic sign showing a ban on diesel cars at the Max-Brauer Allee in downtown Hamburg, Germany May 23, 2018. REUTERS/Fabian Bimmer In an interview published in Die Welt newspaper on Monday, Schulze said refits could first be carried out on cars on the road in particularly polluted cities.…

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As clock ticks, doubts grow over Kinder Morgan's Canada oil pipe expansion

VANCOUVER/WINNIPEG, Manitoba (Reuters) – As a hard deadline set by Kinder Morgan Canada Ltd (KML.TO) for scrapping a key pipeline expansion looms, there is growing doubt among investors, contractors and government officials about reaching a deal to save the C$7.4 billion ($5.7 billion) project. FILE PHOTO: Replacement pipe is stored near crude oil storage tanks at Kinder Morgan’s Trans Mountain Pipeline terminal in Kamloops, British Columbia, Canada, November 15, 2016. REUTERS/Chris Helgren/File PhotoThe company, a unit of Houston-based Kinder Morgan Inc (KMI.N), set a May 31 deadline to decide if…

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Bombardier launches longer-range variants of Global business jets

MONTREAL (Reuters) – Canada’s Bombardier Inc on Sunday announced two new longer-range variants of its existing large-cabin Global business jets, which the company expects to generate higher revenues during a time of recovering appetite for corporate planes. Bombardier Business Aircraft debuts its new Global 6500 jet at the European Business Aviation Convention and Exhibition (EBACE2018), in Geneva, Switzerland, May 27, 2018. Bombardier Business Aircraft/Handout via REUTERS The Global 5500 and 6500 jets are expected to offer 13 percent improved fuel burn and longer ranges compared with the plane-and-train-maker’s existing Global…

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Qualcomm to meet China regulators in push to clear $44 billion NXP deal: sources

BEIJING (Reuters) – Qualcomm Inc (QCOM.O) is expecting to meet this week in Beijing with China’s antitrust regulators in a final push to secure clearance for its proposed $44 billion acquisition of NXP Semiconductors NV (NXPI.O), three sources told Reuters. FILE PHOTO: A sign on the Qualcomm campus is seen in San Diego, California, U.S. November 6, 2017. REUTERS/Mike Blake/File PhotoThe acquisition has been caught in the crosshairs of rising U.S.-China trade tensions, with sources saying an approval would depend on the progress of broader bilateral talks. The deal has…

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Cyclone shuts Sembcorp Salalah water production plant

DUBAI (Reuters) – Sembcorp Salalah Water and Power Co SSPW.OM, which operates an electricity generation and seawater desalination plant in Oman, said its water production plant had been temporarily shut down because of rough seas as a result of a tropical storm. General view after Cyclone Mekunu in Salalah, Oman May 26 2018. Oman News Agency/Handout via REUTERS ATTENTION EDITORS – THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. NO RESALES. NO ARCHIVES TPX IMAGES OF THE DAYCyclone Mekunu hit southern Yemen and the coast of neighboring Oman over…

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Tencent chairman pledges to advance China chip industry after ZTE 'wake-up' call: reports

HONG KONG (Reuters) – Tencent Holdings chairman pledged to advance China’s semiconductor industry, saying the blow to ZTE Corp from Washington’s ban on U.S. firms supplying telecommunications company was a “wake-up” call, local media reported. FILE PHOTO: Tencent Holdings Ltd Chairman and CEO Pony Ma attends a news conference announcing the company’s annual results in Hong Kong, China March 21, 2018. REUTERS/Bobby YipChina’s No.2 telecom equipment maker ZTE was banned in April from buying U.S. technology components for seven years for breaking an agreement reached after it violated U.S. sanctions…

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Daimler faces scrutiny of 120,000 Vito, C-Class diesels: BamS

FRANKFURT (Reuters) – Daimler (DAIGn.DE) faces an investigation of 40,000 diesel Vito vans and 80,000 C-Class model cars for possible illicit software that allowed the vehicles to emit excess pollution without detection, Bild am Sonntag reported, citing no sources. FILE PHOTO: A sign showing the name of German truck maker Daimler is pictured at the IAA truck show in Hanover, September 22, 2016. REUTERS/Fabian Bimmer/File Photo Daimler has submitted a software update for the engines for regulatory approval, the German weekly paper said on Sunday. The report comes after German…

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