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Stonepeak buys Italy’s component maker Forgital from Carlyle

MILAN (Reuters) -Private equity firm Carlyle has agreed to sell Italian firm Forgital, which manufactures forged components mainly for the aerospace sector, to U.S. alternative investment firm Stonepeak, the two companies said on Monday. The deal values the Italian company more than 1.5 billion euros ($1.6 billion) including debt, two sources close to the matter …

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US specialty vehicle maker Shyft to merge with Switzerland-based Aebi Schmidt

(Reuters) -Shyft Group and Switzerland-based Aebi Schmidt will merge in an all-stock deal, the companies said on Monday, sending the U.S. specialty vehicle maker’s shares up 13%. Michigan-based Shyft, which has a market value of about $439 million according to data compiled by LSEG, manufactures and assembles specialty vehicles such as work trucks and recreational …

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Lockheed forms subsidiary to help defense companies adopt AI

(Reuters) – Lockheed Martin said on Monday it had formed a subsidiary that will help U.S. defense companies incorporate artificial intelligence into their operations. Companies across sectors have leaned more on AI over the past few years to help optimize their workflow. However, defense companies have remained cautious given the sensitive data required to train …

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Allianz withdraws $1.63 billion offer for Singapore’s Income Insurance

By Yantoultra Ngui SINGAPORE (Reuters) – German insurer Allianz has withdrawn its offer to acquire at least 51% of Singapore’s Income Insurance for about $1.63 billion, the company said in a statement on Monday. Reuters reported on Dec. 13 that the insurer had scrapped the proposed acquisition. Allianz, which unveiled its offer in July, said …

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US to require drug, alcohol testing for foreign aviation-repair stations

By David Shepardson WASHINGTON (Reuters) -The Federal Aviation Administration said on Monday it has finalized rules requiring aviation-repair stations in foreign countries to conduct drug and alcohol testing for employees performing safety-sensitive maintenance functions for U.S. airlines. The rule, which requires compliance by December 2027, will impact about 977 repair stations in 65 countries, the FAA …

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Novo’s Ozempic faces scrutiny over potential link to rare eye disease

COPENHAGEN (Reuters) – Danish health authorities said on Monday they would ask the European Union’s drug regulator to review the findings of two Danish studies linking Novo Nordisk’s popular diabetes drug Ozempic to a rare sight-threatening eye condition. The two studies conducted by University of Southern Denmark (SDU) found that Ozempic more than doubles the …

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Explainer-How Republicans plan to pass Trump’s agenda through ‘reconciliation’

By Andy Sullivan WASHINGTON (Reuters) – When President-elect Donald Trump’s Republicans take control of the U.S. Congress next month, they plan to rely on a maneuver called “reconciliation” to achieve his ambitious tax-cutting and border-hardening goals over the opposition of Senate Democrats.  Here is an explanation of how that works: WHAT IS RECONCILIATION? The U.S. …

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Germany’s Scholz loses confidence vote, paving way for elections

BERLIN (Reuters) – German Chancellor Olaf Scholz lost a parliamentary confidence vote on Monday, paving the way for snap elections in February intended to lead Germany out of a political crisis triggered by the collapse of his coalition. (Reporting by Friederike Heine, editing by Rachel More)