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  Bloomberg Bristol-Myers Squibb Co. was once one of the drug industry’s highest-flying companies. Now the pharmaceutical giant has gone from predator to prey, as its sagging stock price has invited in activist investors who are already forcing changes. It announced an agreement with Jana Partners LLC to add three board members, and later in the day activist investor Carl ...

  Bloomberg Net migration to the UK fell to its lowest in more than two years, providing a boost for Prime Minister Theresa May as she seeks to reduce the number of foreigners coming to Britain. Those arriving to live or study for a minimum of one year outnumbered those leaving by 273,000 in the year through September, the Office ...

  Bloomberg The UK ended 2016 on a high, recording an unexpected acceleration in growth thanks to the biggest boost from net trade in almost six years. The question is whether this new economic mix can persist, with the weaker pound helping to deliver a continued export pickup, offsetting a smaller contribution from shoppers who are about to be squeezed ...

  Bloomberg PSA Group laid out its vision for integrating General Motors Co.’s struggling European operations, including slashing costs, combining development efforts and exploiting the appeal of German engineering. Chief Executive Officer Carlos Tavares vowed to revive GM’s Opel unit by carrying out a similar restructuring that brought the maker of Peugeot and Citroen cars back from the brink over ...

  Bloomberg The euro is slipping again, after Wednesday’s modest bounce proved too weak to last. Concerns about European political risks that were recently focused on the second round of France elections are now broadening to include the first round and even next month’s Dutch vote. Investors lightened short-euro positions in the spot market Wednesday as the Bloomberg Euro Index ...

  Bloomberg Qantas Airways Ltd.’s first-half earnings dropped less than the company’s forecast amid a recovery in the domestic market, while competition on international routes weighed on air fares. Shares jumped the most in almost eight months. Chief Executive Officer Alan Joyce, who is in the final six months of a three-year turnaround plan, said confidence is returning in the ...

  Bloomberg Air India Express, the low-cost unit of the South Asian nation’s flag carrier, has put on hold a plan to fly to Tehran amid renewed tensions between the U.S. and Iran after President Donald Trump imposed fresh sanctions on the Gulf country. Since some of Air India Ltd.’s plane purchases were funded by the Export-Import Bank of the ...

  Bloomberg The UK government is failing to show how it intends to tackle the potential environmental damage of building a third runway at London’s Heathrow Airport, according to a cross-party panel of lawmakers. Ministers are relying too much on people switching to cleaner cars to reduce particulate air pollution and have given no guarantees on air-quality targets after the ...

  Bloomberg Macy’s Inc. posted fourth-quarter earnings that beat analysts’ estimates as the company closes stores and cuts costs in a bid to cope with an industrywide slump. Profit was $2.02 a share, excluding some items, the Cincinnati-based company said. Analysts projected $1.96 on average. While same-store sales declined 2.1 percent, that was better than the 2.2 percent drop predicted ...

  Bloomberg Boeing Co.’s Super Hornet is poised for a surprising comeback thanks to President Donald Trump’s Twitter broadsides and a strike-fighter shortage caused by delays to Lockheed Martin Corp.’s F-35 program. Until recently, Boeing’s combat jet was on life support, with work at its St. Louis factory slowing to a crawl as orders dwindled. But that was before Congress ...