An averted strike in the aerospace industry, roiling within the copper industry and more eastward expansion into the eurozone topped this weekend's news.
appears to have staved off a possible strike by machinists. The company and the union reached an agreement on a new three-year contract Saturday. If union members ratify the deal, they would see their pay go up 11% during the next three years, plus they would get a 10% signing bonus. The company also pledged not to lay off employees and replace them with subcontractors. For more on labor issues in the airline industry, see
piece on the subject.
Cyprus Amax Minerals
on Sunday accused rival
of trying to foil their merger with its threat of a hostile takeover. The two targets say they would consider Phelps Dodge's offer only if it raises the deal to $3.3 billion, up from the $2.5 billion the company is now offering.
The West Coast saw one successful merger this weekend: San Jose-based
in a deal valued at $37 million,
A pair of French retailers are planning a merger that would make them the world's second-largest retailer, behind Goliath
, an industry source told
. The companies,
, are planning to hold a news conference Monday. Wal-Mart has been pushing into Europe in recent years, with the acquisition of two German retail chains since 1997 and the recent
purchase of the U.K.'s
The story of a boy who can see ghosts continued to win over moviegoers for the fourth week in a row, as
The Sixth Sense
topped the box office charts with $20.1 million in revenue. So far the film has grossed an estimated $138.8 million.
In the Papers
You've got Post!
will again offer its
service in Europe during the next 12 to 18 months, Germany's
Welt am Sonntag
newspaper reports. The company abandoned the service last year in the face of fierce competition from
Meanwhile, media bigwig
is considering buying
cable television network in Germany, the
in London reported Sunday. The newspaper said the deal would cost Murdoch's
up to 10 billion pounds, or $15.86 billion.
has sold enough women's clothing to become the nation's fifth-largest publicly held apparel maker, but it's having a tougher time pushing its stock on Wall Street lately,
reports. Possible factors include the company's 17 acquisitions within the past 15 years and its operational restructuring.
, which has built its reputation helping companies single out ideal spenders, is feeling the pinch from spendthrift competitors,
reports. Analysts blame the plunge in the company's stock price on pricing pressure.
Four European airlines are eyeing
, the second-biggest presence at London's Heathrow airport, the
in London reports. The paper identifies the suitors as
also features an interview with hedge-fund manager
Clifford W. Henry
, who founded New York-based
. His stock picks include
The Laser Center
Laser Vision Centers
, all in the laser eye surgery industry; drillers
in the telephony sector; and private investigation firm
, personal records provider
and utilities industry consultant
British life and pensions mutual
denied a report in London's
National Westminster Bank
was looking to buy it. The newspaper said NatWest offered to buy Friends Provident for 4.5 billion pounds, or $7.14 billion. But a Friends Provident spokesman told
that it had not been approached.