Business

Union tests GM Canada

Yahoo

Activist investor Carl Icahn urged Yahoo, Inc. to declare it is willing to accept a takeover offer of $49.5 billion – about $2 billion above Microsoft Corp.'s last bid for the Internet pioneer. Icahn recommended the price tag, $34.375 a share, in a letter Friday to Yahoo Chairman Roy Bostock. It's the first time Icahn has publicly indicated what price he has in mind as he tries to force Yahoo's sale before the company's annual meeting Aug. 1. Associated Press

Insurance

Aviva Plc, Britain's biggest insurer by premiums, plans to shed as many as 1,800 jobs over the next two years as growth in insurance premiums slows.

Bloomberg News

Investments

China will lead a delegation of companies to the U.S. to look for investment opportunities as the next round of an economic dialogue begins, Chinese officials said Friday. The fourth round of the Sino-U.S. Strategic Economic Dialogue will be held June 17-18 at the U.S. Naval Academy in Annapolis, Md. Associated Press

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