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US
court slams excessive punitive damages
Washington: The US Supreme Court ruled that punitive
damages must be reasonable and proportionate to the harm
suffered, handing businesses a victory and overturning
a $145m award against State Farm Mutual Automobile Insurance
for mishandling a claim.
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P&G
clears 'hurdles' for Wella takeover
Frankfurt: German haircare group Wella accepted its
inevitable loss of independence after US giant Procter
& Gamble bought a majority stake last month, and cautiously
welcomed its new owner for the first time on Tuesday.
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Bombardier
to get $5bn to upgrade London Tube
Montreal: Bombardier has closed a C$7.9bn ($5.3bn)
15-year contract to modernise and maintain most of the
London Underground, the world’s oldest subway system,
the company said on Monday.|
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