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Brown-Forman's advisors informed Sazerac on May 11 that its all-cash acquisition offer of $32 per share was rejected. (The Wall Street Journal)

"I still hold some hope for a significant easing of tensions in the Middle East — but we cannot ignore the high energy prices," the Bundesbank President said in an interview. "The possibility of an interest rate hike is increasing, unless there is a fundamental change in the inflation situation." Economists are betting that the European Central Bank will raise interest rates twice this year, in June and September, with markets expecting a third increase before the end of the year. "We are no longer in the baseline scenario of the Eurosystem's forecast, but are instead moving towards an adverse scenario," Nagel said. He was referring to the different growth and inflation paths outlined by the European Central Bank in March. He also warned, "We may still face considerable inflation in the future."

Given the weak demand for electric vehicles, General Motors and its factory partner, South Korea's LG Energy Solution, halted production at this plant for six months in January of this year. This means that about 850 employees are expected to return to work sometime in June.