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And explaining the rising term premium
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...But over the past decade the internet has transformed the media business, and the industry has consolidated....
...In November, it said that consolidated net profit for the year to March was expected to drop 8 per cent. That was a sharp reversal from the previous guidance of a 20 per cent increase....
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...A series of mergers and acquisitions over the past several decades has turned the defence industry into one of the most consolidated in the US....
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