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June 15, 2015 REAL ESTATE

Metro sells Kaufhof stores to Hudson's Bay for 2.8 bln euros

German retail and distribution giant Metro said Monday it has agreed to sell its Kaufhof department store chain to Canadian group Hudson’s Bay for 2.825 billion euros ($3.2 billion). “Today, Metro signed an agreement with Hudson’s Bay Company to sell Galeria Kaufhof which includes the operational department store business both in Germany (Galeria Kaufhof) and Belgium (Galeria Inno) as well as the corresponding real estate portfolio,” the German company said

June 15, 2015 REAL ESTATE

The Glazers’ Way: Loyal, low key, few frills in running Manchester United

By Ken Otterbourg ROCHESTER, NEW YORK (Reuters) – The First Allied building at 270 Commerce Drive in the Rochester, New York, suburb of Henrietta isn’t much to look at. It’s the de facto headquarters of the Glazer family, which controls the Manchester United football club, among the most valuable franchises in global sport, as well as the National Football League’s Tampa Bay Buccaneers.     Inside are photographs and memorabilia of the

June 14, 2015 ENERGY (MSM)

U.S. oil companies eye tropical disturbance in south Gulf of Mexico

U.S. oil companies were closely watching a large tropical disturbance in the southern Gulf of Mexico, but were not changing operations despite the system’s 70 percent chance of developing into a tropical cyclone over the next 48 hours, according the U.S. National Hurricane Center. Leading oil producer in the U.S.-regulated Gulf of Mexico Shell Oil Co, the U.S. arm of Royal Dutch Shell, said it was monitoring the storm on

June 14, 2015 REAL ESTATE

Deutsche Annington to raise capital for Suedewo takeover

German property firm Deutsche Annington Immobilien SE will buy regional rival Suedewo for 1.9 billion euros ($2.13 billion) and launch a 2.25 billion euro capital increase to fund the acquisition, the company said in a statement late on Sunday. Suedewo owns about 20,000 apartments, mainly in the state of Baden-Wuerttemberg in southwest Germany, where Annington already owns some 15,000 rental properties. Record low interest rates and the search by investors

June 14, 2015 HEALTH (MSM)

Christie backs 'coalition of the willing' for Iraq

New Jersey Governor Chris Christie, a possible 2016 Republican presidential candidate, advocated a “coalition of the willing” on Sunday to help fight Islamic State in Iraq, borrowing a phrase from George W. Bush’s unpopular war. In 2003, former President Bush used the phrase to refer to countries that supported the U.S.-led invasion of Iraq. In a presidential debate while seeking re-election in the 2004 vote, Bush defended the coalition with