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  • June 30- Hershey Co said on Thursday it had rejected a $23 billion preliminary offer by Mondelez International Inc that would seek to expand the latter's limited U.S. footprint and create the world's largest confectioner. The snub underscores the challenges Mondelez faces in wooing Hershey's controlling shareholder, the Hershey Trust, a $12 billion charity...

  • The snub underscores the challenges Mondelez faces in wooing Hershey's controlling shareholder, the Hershey Trust, a $12 billion endowment created by the eponymous company's founder a century ago. The combined company would leapfrog Mars Inc, which has 13.3 percent of the global market, according to data firm Euromonitor International Ltd..

  • Hershey shares jumped 15.1 percent to $111.86, while Mondelez rose 2.3 percent to $43.97. Tigress Financial Partners LLC analyst Philip Van Deusen said he expected the offer price to increase, given the rise in Hershey shares. Hershey received Mondelez's preliminary offer this week and has yet to respond, the source said.

  • India Indo Bonds

    BlackRock's Rick Rieder says investors who want to diversify their portfolios can look to emerging markets such as Indonesia and India.

  • Brexit Asia

    While Brexit's impact on Asia might be limited, it will affect Asian financial centers such as Hong Kong and Singapore the most, says Jefferies' Sean Darby.

  • *Recalls 2.87 mln cars over emissions control units. *Recalls 1.43 mln cars over air bag inflators. WASHINGTON/ TOKYO, June 29- Toyota Motor Corp has recalled 3.37 million cars worldwide over possible defects involving air bags and emissions control units.

  • India Bank Consolidation

    Moody's Investors Service's Srikanth Vadlamani explains that consolidation of Indian state banks might create larger risks than benefits.

  • *India to buy 700,000 tonnes at $227 a tonne. *India, China are world's biggest fertilizer consumers. MINSK/ MUMBAI, June 27- Belarus has agreed to sell potash to India at the lowest price in a decade and about a third less than last year's level as global supplies of the crop nutrient exceed demand.

  • LONDON, June 27- Retail gold investors are booking profit on metal bought to hedge against Thursday's decision by British voters to leave the European Union, while an initial surge in buying slackened off on Monday. In New York, gold dealers reported their busiest day in months, as phones rang off the hook with new orders. Edward Kay, president of Buyers of New York,...

  • NEW DELHI, June 27- The Indian government has narrowed its list of candidates to become the next governor of the Reserve Bank of India to four, a senior official told Reuters, as it set in motion the process of naming a new Monetary Policy Committee. The moves seek to ensure policy continuity and reassure domestic and global investors after RBI chief Raghuram Rajan...

  • NEW DELHI, June 27- The Indian government has narrowed its list of candidates to become the next governor of the Reserve Bank of India to four and a new Monetary Policy Committee will be appointed soon, a senior official told Reuters. The moves seek to ensure policy continuity and reassure domestic and global investors after RBI chief Raghuram Rajan shocked...

  • NEW DELHI, June 27- The Indian government has narrowed down its list of candidates to become the next governor of the Reserve Bank of India to four, a senior government official told Reuters. A new Monetary Policy Committee also will be chosen soon, the official said. The four were current RBI Deputy Governor Urjit Patel, former deputy governors Rakesh Mohan and...

  • India's robust economic fundamentals provide a cushion from the market tumult, Finance Minister Arun Jaitley tells CNBC.

  • Yoon Jaitley PKG

    India's strong fundamentals will be able to withstand the impact of Brexit on the real economy, says Indian finance minister Arun Jaitley.

  • HONG KONG, June 26- Years of breakneck growth for China's top insurers has been partly fueled by a splurge on risky investment products that could punch multi-billion-dollar holes in their balance sheets if the slowing economy triggers heavy debt defaults. Industry premiums have increased by an average 13.4 percent a year since 2010, according to the China...

  • *Exports from Britain to EU now tariff-free. BEIJING, June 24- Executives at Asian automakers with factories in Britain, largely set up to export to the European Union, say they could slow investments in Britain or even put them on ice for now, after the country voted to leave the 28- nation bloc. Toyota and Nissan had said in the run-up to the vote that continued...

  • *Britain votes to leave the European Union- BBC. MELBOURNE, June 24- London copper fell on Friday and selling spilled into other metals, after referendum results showed that British voters have embarked on a path to depart the European Union. Britain has voted to leave the European Union, results from Thursday's referendum showed, a stunning repudiation of the...

  • MUMBAI/ NEW DELHI, June 24- India's finance minister and central bank governor on Friday said a solid economy and planned government reforms would allow the country to withstand any major impact from Britain's vote to leave the European Union. Both also said India was well prepared to deal with any volatility, with Rajan pledging to inject liquidity in dollars...

  • HONG KONG/ SEOUL, June 24- At least two Asian central banks were suspected of intervening in their currency markets on Friday, according to traders, as global financial markets went into a tailspin after Britain voted to leave the European Union in a historic vote. Multiple traders said the Bank of Korea was thought to have sold dollars to curb the won's fall as the...

  • LONDON, June 24- Shocked chief executives from Mumbai to Denver woke up on Friday to face tough decisions over how to respond to Britain's vote to leave the European Union. In Britain itself, businesses as diverse as engineering group Rolls-Royce, drugs giant AstraZeneca, housebuilders and makers of Scotch whisky were braced for disruption in the short and long...