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Plaintiffs suing the company also filed a proposed class action lawsuit in Manhattan bankruptcy court on Monday, seeking an order declaring that GM cannot use the bankruptcy protection to absolve itself from liabilities. The faulty ignition switch has been linked to at least 13 deaths and the recall of 2.6 million GM vehicles. GM emerged from bankruptcy protection in 2009 as a different legal entity from the so-called old GM. Under those terms, the "new GM" shed liability for incidents predating its exit from bankruptcy, and any lawsuit involving pre-bankruptcy issues must be brought against what remains of old GM.
FLAGSTAFF, Ariz. - Facing a high prevalence of diabetes, many American Indian tribes are returning to their roots with community and home gardens, cooking classes that incorporate traditional foods, and running programs to encourage healthy lifestyles. The latest effort on the Navajo Nation, the country's largest reservation, is to use the tax system to spur people to ditch junk food. A proposed 2 per cent sales tax on chips, cookies and sodas failed Tuesday in a Tribal Council vote. But the measure still has widespread support, and advocates plan to revive it, with the hope of making the tribe one of the first governments to enact a junk-food tax.
KYIV, Ukraine - U.S. Vice-President Joe Biden warned Russia on Tuesday that "it's time to stop talking and start acting" to reduce tension in Ukraine. Standing alongside acting Ukrainian Prime Minister Arseniy Yatsenyuk, Biden called on Moscow to encourage pro-Russia separatists in eastern Ukraine to vacate government buildings and checkpoints, accept amnesty and "address their grievances politically." Biden said Russia needs to act "without delay," adding, "We will not allow this to become an open-ended process." Yatsenyuk was harsher in his characterization of Russia.
By Caroline Copley and Paul Sandle ZURICH/LONDON (Reuters) - Novartis and GlaxoSmithKline agreed to trade more than $20 billion worth of assets on Tuesday to bolster their best businesses and exit weaker ones as the drug industry contends with healthcare spending cuts and generic competition. The deals, which include Novartis' purchase of GSK's cancer drugs and GSK's acquisition of Novartis' vaccines business, came just after a newspaper report that AstraZeneca Plc had turned down a $101 billion bid approach from Pfizer Inc, a story that sent shares up across the sector. In addition, Novartis is selling its animal health arm to Indianapolis-based Eli Lilly for about $5.4 billion in cash. That would make Lilly's Elanco unit the world's second-largest animal health business when that deal closes early next year.
(Reuters) - Comcast may divest about 4 million subscribers after its merger with Time Warner Cable and is working to reach an accord to sell a portion of those customers to Charter Communications, a source familiar with the matter said Tuesday. Comcast is studying what could be a two-phase process, where Charter would first acquire up to 1.5 million subscribers directly from Comcast, the source said on condition of anonymity because discussions were continuing and a final agreement had not been struck. Comcast would then spin off the rest of the 2.5 million subscribers into a separate, publicly traded company, which Charter would take a minority stake in, the source added.