Mitsubishi, Renault Scrap Car-Making Tie-Up

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Renault’s international expansion plans are encountering obstacles with a proposed joint-venture with Mitsubishi scrapped and its struggling business in Russia disclosing another round of layoffs.

VMware Profit Falls Slightly Despite Higher Revenue

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VMware Inc.’s fourth-quarter profit fell slightly, offsetting a double-digit revenue increase, as the computer-server software pioneer reported higher costs associated with its stock-compensation program.

Closing an Airport Security Gap

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A trio of recent incidents is fueling new scrutiny of U.S. airport security procedures that allow nearly a million workers nationwide—including baggage handlers, mechanics and aircraft cleaners—access to airport facilities without routine screening.

Siemens Answers Investor Critics

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Siemens chief says U.S. is central to the company’s growth but comes under fire on the planned buy of U.S. oil-equipment maker Dresser-Rand Group.

Juniper Swings to Loss

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Juniper Networks swung to a fourth-quarter loss as it posted an $850 million goodwill-impairment charge for its security-reporting unit, due to factors including the division’s underperformance.

Western Digital Results Top Expectations

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Western Digital posted a better-than-expected 7% increase in profit in its December quarter as expenses fell.

Stryker Profit Falls on Costs

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Stryker Corp.’s fourth-quarter profit fell 33% as the medical-device maker recorded higher costs due to recalls and the opening of its European regional headquarters.

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.

FTC Clears Safeway-Albertsons Merger

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The U.S. Federal Trade Commission cleared the merger of supermarket operators Safeway Inc. and Albertsons after the companies agreed to sell 168 stores to address the commission’s competition concerns.

Pfizer Sales Hit by Stronger Dollar

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Pfizer said a strong U.S. dollar and recent drug-patent losses contributed to a 52% drop in net income in the fourth quarter and would depress results this year.

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