JetBlue Pilots Vote to Unionize

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The pilots at JetBlue Airways voted to unionize, ending the carrier's status as one of the last nonunion airlines in the U.S.

Global Drug Industry Does About-Face

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After decades of broadening their drug portfolios through acquisitions, pharmaceutical companies are reversing course to focus more narrowly on what they think they can do best.

WH Group IPO to Seek $1.34 Billion to $1.88 Billion

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Chinese pork producer WH Group, which has delayed its Hong Kong IPO and slashed its size, will seek to list May 8 and raise $1.34 billion to $1.88 billion.

Scania Shareholder Alecta Rejects VW Bid

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Swedish pension fund Alecta said it would reject Volkswagen's offer to buy out minority shareholders in truck maker Scania.

Russian Social Network CEO Removed

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Pavel Durov, founder of VKontakte, has been removed as chief executive after it emerged the resignation letter he tendered last month and later withdrew wasn't properly rescinded.

Australia to Buy 58 F-35 Jet Fighters

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Australia said it would buy 58 Lockheed Martin Corp. F-35 Joint Strike Fighters in a deal worth about US$12 billion.

Ericsson Reports Sharp Revenue Decline

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Sweden's Ericsson reported an unexpectedly sharp decline in revenue for the first quarter, blaming lower revenue in North America and Japan which was only partly offset by growth in China, the Middle East and Latin America.

ARM Holdings Posts Higher Profit

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Computer chip designer ARM Holdings reported a rise in first-quarter profit boosted by demand for its technology for a growing range of products including so-called supercomputers and sensors.

Newcrest Mining Cuts Jobs

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Newcrest Mining Ltd. said it cut hundreds of jobs in Papua New Guinea in a push toward austerity. The decision comes after the company launched a raft of cost-cutting projects across its operations last quarter.

China Trust-Sector Growth Slows

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The growth of assets managed by China's trust companies moderated as the economy lost momentum and regulators stepped up supervision over the rapidly expanding "shadow-banking" sector.

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