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The Times & The Sunday Times
The Times & The Sunday Times
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Business in Brief

The Times
The Times

Quantas takeover approach

Qantas, the Australian airline, said that it had received a takeover approach from Macquarie Bank and Texas Pacific Group on behalf of a consortium they represent. Qantas said in a statement to the Australian Stock Exchange that details were incomplete and it was investigating the proposal.

Boom and bust

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David Miles, chief UK economist at Morgan Stanley, will today warn that a bust in the housing market is likely in the next few years. He says price growth has been based on unrealistic expectations of double-digit annual rises.

CVC out of race

CVC has pulled out of the race to acquire German broadcaster ProSiebenSat.1. The private equity firm was understood to be one of a handful of suitors for the company, which has been valued by analysts at up to €6 billion (£4.05 billion).