Deals

Allergan says it stands by statements on Valeant

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BOSTON - Allergan Inc said on Tuesday it saw no evidence to support claims by hostile suitors Valeant Pharmaceuticals and hedge fund Pershing Square Capital Management that its chief executive officer had spearheaded a campaign to spread misinformation.

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U.S. to scrap trade deal on Russian steel duties 4:52pm BST

WASHINGTON - The U.S. Department of Commerce will terminate a 15-year-old deal sheltering Russian flat-rolled steel producers from high import duties, it said in a letter to Russian authorities.

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Kinder Morgan Canada pipeline plans hits a mountain of opposition 1:02pm BST

VANCOUVER - A Western Canadian pipeline once seen as the best near-term hope for sending more of the country's controversial tar sands crude to Asia has hit another snag: aboriginal communities intent on using the courts to block the proposed expansion.

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AbbVie says $55 billion acquisition of Shire officially dead 4:03pm BST

- U.S. drugmaker AbbVie Inc said on Monday it has reached agreement with Shire Plc to officially call off its proposed $55 billion purchase of the Irish company, and will pay Shire a $1.64 billion breakup fee for walking away from the deal.

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Daimler to make vans in North America, invest in German plants 4:25pm BST

FRANKFURT - Daimler said on Tuesday it will broaden its production footprint for Mercedes-Benz Sprinter vans by moving some manufacturing to North America and by investing 450 million euros ($572 million) to modernize its German plants.

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EQT frontrunner for Siemens hearing-aids business: sources 5:35pm BST

FRANKFURT/LONDON - German engineering group Siemens is in advanced talks to sell its hearing-aids business for more than 2 billion euros ($2.5 billion), with private equity firm EQT the frontrunner, two people familiar with the matter said.

Smartphone repair company B2X steps up expansion with Indian deal 5:14pm BST

FRANKFURT - Smartphone users won't recognize the name B2X, but if your battery dies or your screen breaks, the odds are that the company will be working behind the scenes when you seek a repair.

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Dish drops Turner channels as contract renewal talks fail 5:04pm BST

- Dish Network has stopped carrying Turner Broadcasting's channels, including CNN, Cartoon Network and Adult Swim, as the companies failed to renew their distribution deal.

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Swiss Re to sell U.S. life unit Aurora to RGA 2:36pm BST

ZURICH - Swiss Re said on Tuesday it was selling its U.S. life insurance arm, Aurora National Life Assurance Company, to Reinsurance Group of America, Incorporated (RGA) for an undisclosed price.

Daimler eyes stake in motorbike maker MV Agusta: source 2:01pm BST

FRANKFURT/MILAN - German vehicles group Daimler is in advanced talks to take a minority stake in Italian motorcycle manufacturer MV Agusta [IPO-MVAG.MI], a source in Italy familiar with the situation said on Tuesday.

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