U.K. Economy Slowed More Than Expected

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The U.K. economy slowed more than expected in the final quarter of 2014 as construction activity slipped and tumbling oil prices hit North Sea oil and gas production.

Cheung Kong, Hutchison Whampoa Seek $7.1 Billion Loan

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Bankers have been asked to commit to the huge loan to finance Li Ka-shing’s spinoff of his real-estate assets from the two companies, people with knowledge of the deal said.

Huawei to Focus on Higher-End Smartphones

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Huawei Technologies is focusing on selling more higher-end smartphones, a senior executive said, as it braces for tougher competition from low-cost Chinese vendors such as Xiaomi.

EasyJet Sales Rise

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EasyJet said first-quarter sales grew 3.8% and that revenue-per-seat sold will be stronger in the first six months than expected as the budget airline also benefits from lower than projected fuel costs.

Facebook Back Online After Outage

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Social media platform Facebook and photo sharing app Instagram were inaccessible for about 45 minutes Tuesday.

Ericsson Hurt by North American Slowdown

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Ericsson reported a weaker-than-expected net profit for the fourth quarter, hurt by a slowdown in spending by network operators in North America.

AGL Halts Gas Project

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AGL Energy Ltd. suspended a coal seam-gas project in Australia’s New South Wales state after detecting potentially hazardous levels of chemicals in surrounding groundwater.

Aer Lingus Set to Recommend IAG Takeover

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British Airways parent International Consolidated Airlines Group said the board of Aer Lingus is ready to recommend a sweetened takeover offer for the Irish carrier.

Siemens Hurt by Weak European Economy

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German engineering company Siemens said net profit declined nearly 25% in the first quarter, hurt in part by a weakening European economy and the slide in global oil prices.

Philips Profit Plunges

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Philips reported a 67% drop in fourth-quarter net profit and the Dutch electronics maker warned that it is behind on its financial targets.

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