Metso Rejects Merger Approach From Weir

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Finland's Metso has rejected Scottish rival Weir's proposal to merge the two engineering companies, saying the deal isn't in the best interests of its shareholders and it remains confident of its prospects as a stand-alone company.

China Shipbuilder Says Property Developer Defaulted on Loan

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Shenzhen-listed Sainty Marine said a property developer in Nanjing has failed to repay a $16.9 million loan including interest.

Burberry Sees Currencies Weighing on Profit

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Luxury clothing company Burberry Group reported a rise in second-half sales, helped by online growth, but said it expects currency movements to hurt profit.

Alibaba Flexes Muscles Before IPO

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Despite challenges, a big surge in profits and revenue has put the Chinese e-commerce giant on track for a $15 billion stock sale, just shy of what Facebook sold when the social-networking firm went public in 2012.

Eni Chief Navigated 'Difficult' Terrain

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By proposing to remove the chief executive of Italian oil giant Eni, Italian Prime Minister Matteo Renzi is pushing aside one of Italy's most resilient and politically connected businessmen.

Danone's Sales Decline

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Danone reported a 5.2% drop in first-quarter sales, weighed down by unfavorable foreign-exchange movements in some key emerging markets and as the group's turnaround in the crucial Chinese market take time.

Tesco Profit Falls

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Tesco posted its second consecutive fall in full-year profit as the U.K. retailing giant continued to struggle at home and abroad.

Shale Boom's New Problem: Radioactive Waste

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North Dakota has been slow to address repercussions from the surge in crude output, including the proliferation of radioactive oil filters. The state has no place to store such waste, which has led to illegal dumping.

Editor Says He Wasn't Aware of Dowler Phone Hacking

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Former tabloid editor Andy Coulson testified that he had no role in editing a story about a missing girl that became the epicenter of the U.K. phone-hacking scandal.

Alibaba Flexes Muscles Before IPO

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Despite challenges, a big surge in profits and revenue has put the Chinese e-commerce giant on track for a $15 billion stock sale, just shy of what Facebook sold when the social-networking firm went public in 2012.

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