ABB shares slump after US court rejects asbestos settlement
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Shares in ABB plunged by more than 14 percent following a rejection by US appeals court of the Swedish-Swiss engineering group's 1.2 billion dollar asbestos settlement, which dashed hopes of a swift conclusion of the issue, dealers said.
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Shares fall on renewed fears about the health of the US economy after weak US service sector figures.
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Shares in insurance company AXA Asia Pacific have tumbled after a takeover offer from its French parent company was rejected by the Australian directors.
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The US Supreme Court threw out an order for tobacco giant Philip Morris to pay 79.5 million dollars to the widow of a US smoker, in a victory for businesses hoping to limit punitive financial awards.
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Leading shares have closed sharply lower, having extended losses in afternoon trade in line with Wall Street's decline, with Anglo American the main casualty on disappointing earnings and buyback news, although Alliance &amp; Leicester soared on pleasing numbers and buyback details.
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Europe&#39;s main stock markets sank on Tuesday, with the mining sector taking a hit from weak metals prices after a mixed overnight US showing.
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Leading shares closed weaker on Tuesday, with BAE Systems sharply lower after the US Department of Justice started a probe into its compliance with anti-corruption laws.
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Business & money: Company behind Magners and Bulmers sees its shares slump more than 12%.
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A US appeals court on Thursday turned down ABB&#39;s (ABBN.VX: Quote, Profile, Research) (ABB.N: Quote, Profile, Research) proposed $1.2 billion settlement of an asbestos lawsuit involving the Swiss engineering group&#39;s Combustion
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ABB said it was âawareâ of the ruling, but remained confident that a settlement would be reached. âABB is naturally surprised and disappointed at todayâs decision, but remains confident that it can resolve.
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Leading British shares nosedived to session lows as Wall Street slipped amid ongoing concerns about the weak US currency.
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The US Supreme Court threw out an order for tobacco giant Philip Morris to pay 79.5 million dollars to the widow of a US smoker, in a victory for businesses hoping to limit massive monetary awards.
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A federal appeals court has rejected a $1.2 billion asbestos settlement plan for ABB Ltd., a setback for restructuring efforts by the Swiss-Swedish engineering company.
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Shares in pharmaceutical giants AstraZeneca PLC and GlaxoSmithKline PLC tumbled Friday after a US safety official raised concerns over key drugs sold by the companies.
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Shares tumbled late in the day after AT&Tâs chief  suggested consumers might be cutting back and Countrywide Financial denied it was tumbling into bankruptcy.
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Judge is expected to decline motion to block a generic version of Pfizer&#39;s $3B epilepsy drug. CHICAGO  - Pfizer Inc. shares tumbled Thursday as investors worried a federal judge will refuse the company&#39;s
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BEA Systems Inc  shares fell 4  percent on Tuesday on concerns a $6.7 billion takeover bid by  Oracle Corp  will fall through after both sides refused  to budge from their positions.