National Express News
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Tracsis Plc, a provider of software for the transport industry, rose to the highest since its shares started trading in 2007 after agreeing to buy Sky High Plc, the U.K.’s largest provider of traffic analysis and surveys.
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National Express Group Plc fell 11 percent, wiping about 130 million pounds ($195 million) off its market value after the rail and bus operator’s largest investor, Elliott Advisors, said it would sell half its stake.
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National Express Group Plc’s No. 1 investor, Elliott Advisors, hired Bank of America Merrill Lynch to sell half its stake in the U.K. rail and bus operator.
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Stocks rose, with the Dow Jones Industrial Average reaching a third straight record, as U.S. jobless claims dropped. The euro gained as the European Central Bank said the economy may stabilize this year, while Japan’s yen weakened to 95 per dollar for the first time since 2009.
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Most European stocks advanced as the Federal Reserve said the U.S. economy is growing and the European Central Bank and Bank of England kept their benchmark interest rates on hold.
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U.K. stocks rose, with the benchmark index completing its ninth monthly gain, as European Central Bank President Mario Draghi and Federal Reserve Chairman Ben S. Bernanke signaled they will continue to support their respective economies.
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National Express Group Plc , the U.K. travel company that fended off three takeover bids in 2009, faces pressure from its biggest shareholder to switch strategy after struggling to win government contracts and lift earnings.
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National Express Group Plc fell the most in three years after the U.K. coach and train operator said business in 2013 will be “challenging” as government cutbacks in its home market and Spain hurt bus-division prospects.
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Legal & General Group Plc ’s fund unit said it backs National Express Group Plc in its tussle with hedge fund Elliott Advisors over the makeup of the bus and rail operator’s executive board.
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National Express Group Plc, a U.K. bus and rail operator, said profit more than doubled as consumers in the U.K., Spain and the U.S. rode buses more to cut transport costs.
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