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NEW YORK (AP) — Stocks are opening slightly lower, led by declines in phone stocks and energy companies. Oil and gas stocks have been falling along with energy prices. Chesapeake Energy slumped 3.8 percent and Hess sank 3.4 percent. Monogram Residential Trust soared 22 percent after it agreed to be acquired for $3 billion. At 10:05 a.m. Eastern Time, the S&P 500 was down 6 points at 2,423. The Dow was little changed at 21,417. And the Nasdaq was down 7 points at 6,103.
HELSINKI (AP) — Volvo says its goal is to sell 1 million electrified cars by 2025. The Swedish company says that it will begin producing electric motors on all of its cars from 2019, becoming the first traditional automaker to forgo the combustion engine altogether. Volvo says it'll offer a range of models, including fully electric vehicles and hybrid cars.
BRUSSELS (AP) — The European Union and Japan have agreed "in principle" on a free trade deal that will affect an overwhelming majority of commerce between the two economic giants and will be officially endorsed at a summit of their leaders Thursday. EU Council President Donald Tusk and Japanese Prime Minister Abe will meet Thursday and will be able to shake hands on the landmark deal, which took four years of negotiations.
SIDNEY, Neb. (AP) — Cabela's says federal regulators have ended their investigation into Bass Pro Shops' $4 billion deal to buy the Nebraska-based chain and that the Federal Trade Commission signed off on the deal earlier this week. Cabela's shareholders will vote on the deal, which would pay them $61.50 per share, next Tuesday. The deal is expected to close later this year. It's not clear how many of the roughly 2,000 jobs based in Cabela's hometown of Sidney, Nebraska, will remain afterward.
LONDON (AP) — Britain's largest payment processing company has agreed to get taken over by U.S. rival Vantiv. Worldpay, which allows businesses to accept credit cards and online payments, says the companies "reached an agreement in principle on the key terms of a potential merger" though no official offer has been made.
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