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Automakers such as Maruti benefit in India from their vast dealership network and an autonomous local team that can quickly react to market changes. One of the sources said the Ford-Mahindra deal would lead to more affordable Ford cars in the country, as the company would not need to pay any royalty to its global parent, as the Indian unit has to now. The funds that accrue to Ford’s India unit because of the deal will also be used to clear some of its accumulated losses, the two sources said.

BRUSSELS (Reuters) - The European Commission has begun preparations for possible retaliation against Boeing subsidies, the EU executive said on Tuesday, a day after Washington drew up a list of EU imports to hit with tariffs over subsidies given to Europe’s Airbus, “The Commission is starting preparations so that the EU can promptly take action based on the arbitrator’s decision on retaliation rights in this university of oklahoma sterling silver cufflinks (Boeing) case,” a Commission spokesman said, “The European Union remains open for discussions with the United States, provided these are without preconditions and aim at a fair outcome,” he continued..

(Reuters) - Bank of America Corp said on Tuesday it would raise its minimum wage to $20 per hour over a two-year period. On May 1, the minimum hourly wage will rise by $2 to $17, the bank said reut.rs/2Il5148. Bank of America joins other Wall Street banks that have raised hourly wages following U.S. President Donald Trump’s move to cut corporate tax rates in 2017. JPMorgan Chase & Co has been raising hourly wages to between $15 and $18 to pass on the benefits of the tax windfall to employees. [reut.rs/2F75BgZ].

FRANKFURT (Reuters) - Buyout group Apollo is preparing French glass bottle maker Verallia for a stock market listing later this year, in what could become one of the largest French initial public offerings of the year, people close to the matter said, The private equity firm, which is working with Lazard as its IPO advisor, has asked banks to pitch in coming days for roles in organizing the university of oklahoma sterling silver cufflinks flotation, which could value Verallia at more than 4 billion euros ($4.5 billion), they said, Rothschild is advising Verallia, they added..

Verallia, which traces its roots back to the Vauxrot glassworks founded in 1827, counts Pernod Ricard, champagne house Dom Perignon and chocolate spreads maker Nutella among its clients. So-called global coordinators are expected to be mandated later this month or in May for the IPO of Saint-Gobain’s former glass bottle unit, in which Apollo bought a controlling stake in 2015. The listing may happen in September or later, they said. Apollo and Lazard declined to comment, while Rothschild had no immediate comment.

France has seen few IPOs recently and some deals, such as that of logistics firm Gefco, have been pulled due to wobbly market conditions, Tourism group Club Med’s parent chose Hong Kong for its listing, Among the few other large French companies which may seek a stock market listing this year is state-owned lottery firm Francaise des Jeux, a stake in which could be sold under a law published last year, Across Europe initial public offerings slumped in the first quarter to their lowest since the aftermath of the 2008 financial crisis, as uncertainty over Brexit and university of oklahoma sterling silver cufflinks the U.S.- China trade dispute left companies not wanting to take their chances..

Verallia is expected to post core earnings (EBITDA) of roughly 550 million euros this year and could be valued at between 7 and 8 times that in a potential IPO, the sources said. Peers such as Vetropack, Owens-Illinois or Vidrala trade in a wide range of 2.7 to 9.4 times EBITDA. Apollo bought the majority of Verallia in a 2015 deal valuing the business at 2.95 billion euros. It made 16 billion glass bottles and jars last year and is the main supplier of bottles for France’s champagne and cognac industries.

LONDON (Reuters) - Lenders in Debenhams took control of the ailing British retailer on Tuesday after it went into administration, wiping out shareholders including billionaire university of oklahoma sterling silver cufflinks Mike Ashley who failed in his own attempt to take over the company, Marking the latest corporate failure to hit the British retail sector, Debenhams has been battling with a sharp slowdown in sales, high rents and ballooning debt, Its stores will keep trading as the lenders seek to refinance and restructure the business by closing underperforming stores..

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