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    Indian Prime Minister Narendra Modi will let an executive order making it easier for businesses to buy land lapse on Monday after failing to win support from opposition parties in a major blow to his economic reform agenda. Modi said on Sunday the government was ready to amend the proposed law and criticized the spreading of false rumors that made farmers afraid of the changes.

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    Warren Buffett's Berkshire Hathaway Inc (BRK/A) disclosed a $4.48 billion stake in oil refiner Phillips 66, rebuilding a bet it had made in the energy industry before oil prices fell. The 57.98 million-share, or roughly 10.8 percent, stake was revealed in a Friday night filing with the U.S. Securities and Exchange Commission.

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    The owner of adultery website Ashley Madison had already been struggling to sell itself or raise funds for at least three years before the publication of details about its members, according to internal documents and emails also released by hackers as part of their assault on the company in recent weeks.

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    U.K. regulators look set to give banks a looser rein than many thought--at least when it comes to returning cash to shareholders. That was the big positive behind Lloyds Banking Group (LYG)' s first-half results, which were hurt by a GBP1.4 billion charge related to insurance mis-selling that was about double expectations. Lloyds only paid its first dividend of any kind since the financial crisis at the end of last year.

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    - Carlyle Group LP (CG) has been exploring a sale of aircraft leasing and maintenance company Landmark Aviation for as much as $1.7 billion, according to people familiar with the matter. The business jet market is slowly recovering from a downturn sparked by the global financial crisis helping valuations for companies offering services to that industry.

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    Staples Inc. (SPLS) and Office Depot Inc. (ODP) said late Friday they will delay the closing of their merger to provide the Federal Trade Commission with additional information. Staples (SPLS) shares advanced 1.8% to $13.99, and Office Depot (ODP) shares were flat at $7.82 after hours. The companies said they would delay the closing of their merger for 45 calendar days after they supply the FTC with requested additional information on the deal.

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     Activist investor Carl Icahn on Thursday revealed an 8.46% stake in mining, oil and gas company Freeport-McMoRan (FCX) in a 13D filing with the SEC. Freeport-McMoRan (FCX) closed at $10.19 per share on Thursday, up 28.66% over Wednesday, though still down 56.3% year-to-date.

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    Despite months of pushback from the target, Mylan announced on Friday that its shareholders have approved the company's proposed acquisition of Perrigo (PRGO) for $31.2 billion. In Friday's statement, Hertfordshire, U.K.-based Mylan noted that the potential transaction received the approval of two-thirds of the votes cast and received support from over a majority of all ordinary shares outstanding.

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    Drugmaker Baxalta Inc is working with bankers to buy a U.S.-based hematology and oncology specialist valued at about $2 billion, Bloomberg reported, citing people familiar with the matter. The target could not immediately be identified, Bloomberg reported on Friday. Baxalta (BXLT) is also being pursued by drugmaker Shire Plc (SHPG), which has made a $30 billion bid for the company.

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    Drugmaker Baxalta Inc is working with bankers to buy a U.S.-based hematology and oncology specialist valued at about $2 billion, Bloomberg reported, citing people familiar with the matter. The target could not immediately be identified, Bloomberg reported on Friday. Baxalta (BXLT) is also being pursued by drugmaker Shire Plc (SHPG), which has made a $30 billion bid for the company.

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    Shares of Qihoo 360 Technology (QIHU) are higher by 5.44% to $54.08 in early afternoon trading on Friday, despite reports suggesting the investor group offering to acquire Qihoo for $9 billion is looking to cut its bid in the aftermath of China's market troubles. Qihoo 360 (QIHU) is based in China and traded in the U.S. The company operates as an Internet services provider.

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    Apple and others have borrowed to reward their shareholders. Moody's Investors Service took a dim view Friday of a plan by payment processor ADP to borrow money and use it to reward its shareholders. The ratings firm lowered ADP's main credit rating after the company unveiled plans for a $2 billion debt sale and said it would use the proceeds to buy back 25 million shares, adding to the 26 million shares that remain in its current buyback authorization.

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    The following are mergers under. APPROVALS AND WITHDRAWALS. -- U.S. real estate services provider DTZ to acquire U.S. peer Cushman & Wakefield. -- Evo Payments International, Raiffeisen Bank Polska and Czech lender Raiffeisenbank to jointly control two new subsidiaries with merchant acquiring and acquiring processing services transferred from the two banks.

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    Luis Aguilar, a Democrat commissioner on the Securities and Exchange Commission whose term expired in June but whose successor has not yet been appointed, said in a statement on Thursday that the agency needs to enhance transparency and clarity for the waiver process. Waiver requests are typically made when individuals or organizations are subject to SEC oversight and risk automatic disqualification from continuing some business activities after a penalty of some sort.