Tag "3"

EU opens in-depth inquiry into Fedex's planned takeover of TNT

The European Commission said on Friday it had opened an in-depth investigation into Fedex’s (FDX.N) proposed 4.4 billion euro ($4.9 billion) takeover of Dutch rival TNT Express (TNTE.AS). The Commission, which oversees EU mergers and competition issues, said it had concerns that the merged entity would face insufficient competitive constraints in small package deliveries from the only two remaining players, UPS (UPS.N) and DHL [DHL.UL], owned by Deutsche Post (DPWGn.DE).

Oil falls after OPEC comments imply no supply cut

Oil prices fell on Friday as concern over global oversupply intensified after the head of oil producers’ cartel OPEC indicated there would be no cuts in production despite a huge global oversupply. Badri said rising demand would prevent a further fall in oil prices and suggested cuts in OPEC output would have little impact on the market. Brent was down 70 cents at $52.61 a barrel by 0935 GMT after