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PHH Deal Collapses After Banks Back Off

Blackstone Group says lenders reneged on original financing terms

(Newser) - The $1.8 billion sale of mortgage and auto-leasing company PHH to General Electric and  the Blackstone Group is off the table, after Blackstone was snubbed by banks it had lined up for its share of financing, Bloomberg reports. The deal is the latest private-equity buyout felled by the subprime... More »

Airbus, Boeing Cross Wings at Air Show

Top aircraft manufacturers ride high as industry rebounds

(Newser) - Rival aircraft producers Airbus and Boeing landed a slew of new orders at a gigantic air show that began today outside Paris. The biennial air show, the largest in the world, takes place as the airline industry begins to turn around; after two years of losses, profits this year are... More »

Dow Jones Scenarios Multiply

Companies may join forces to counter Murdoch bid

(Newser) - Members of the Bancroft family would retain a stake in Dow Jones after selling a majority interest to GE and Pearson if one possible arrangement plays out, media outlets owned by the players are reporting. The Wall Street Journal outlines a venture incorporating Dow Jones, Pearson's Financial Times, and GE's... More »

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