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Financial News Network
July 26, 2011 AT 3:13 AM
This is what's in the news for Monday, July 25th. Bloomberg reports that Wal-Mart (NYSE:WMT) and Carrefour SA (PINK:CRERY) may gain access to India's retail market after a government panel was said to have recommended easing restrictions on the industry. Overseas companies could be allowed to own as much as 51% of stores that sell more than one brand if they invest a minimum of $100M. The Sunday Times reports that Bank of China is a leading contender to acquire the aircraft leasing business being sold off by Royal Bank of Scotland (NYSE:RBS). The Wall Street Journal reports that United Technologies (NYSE:UTX) is considering a partial sale of its rocket engine business Rocketdyne, part of the Pratt & Whitney unit, and is also considering potential acquisitions or joint ventures. Finally, The Telegraph reports that Lloyds Banking Group (NYSE:LYG) received only two formal bids in the proposed GBP2.5B sale of its 632 branches, which may force a "demerging" of the business.