EU regulators approve Robert Bosch buy of SPX unit
BRUSSELS (Reuters) - Germany's Robert Bosch GmbH ROBG.UL gained EU approval on Tuesday to purchase the car service business of U.S. manufacturer SPX Corp (SPW.N) for $1.15 billion.
SPX is selling the unit to focus on its fast-growing flow technology business. The acquisition will boost world No. 1 car parts maker Bosch's presence in the North American diagnostics business.
The European Commission, which acts as competition regulator in the European Union, said it did not see any major competition concerns as a result of the deal, confirming a Reuters report on Monday.
"The Commission's investigation found that a number of credible competitors would remain active in the markets concerned after the proposed transaction," the EU executive said in a statement.
WASHINGTON - U.S. job growth accelerated sharply in February despite the icy weather that gripped much of the nation, easing fears of an abrupt economic slowdown and keeping the Federal Reserve on track to continue reducing its monetary stimulus.
- U.S. small businesses borrowed more money in January than they did a year earlier, signaling continued growth in the economy despite a spate of cold weather that has been blamed for weakness in many other indicators of activity.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.