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Brewer SABMiller Plc announced an expanded cost-cutting plan on Friday, stepping up its defense against an unsolicited $100 billion takeover offer from bigger rival Anheuser-Busch InBev . The 30-page presentation posted on the website of the world's second-largest brewer was seen as an attempt to prise a higher price out of AB InBev two days after it rejected its proposed main cash offer of 42.15 pounds a share. "SAB's move now puts the ball firmly back into AB InBev's court," analysts at Barclays said.
By Timothy Gardner WASHINGTON (Reuters) - A bill to repeal the U.S. oil export ban passed the House of Representatives on Friday, but faces an uncertain future after a veto threat by President Barack Obama. The bill sponsored by Representative Joe Barton, a Texas Republican, passed the House 261 to 159, failing to reach the 290 votes necessary to overturn a presidential veto. Only 26 Democrats voted for the bill despite Republicans' late effort to attract them by adding a measure to provide funds for the Maritime Security Program.
MINSK, Belarus (AP) — In an Oct. 8 story about the Nobel Prize for literature, The Associated Press erroneously reported that the prize had been awarded only twice for non-fiction prior to 2015, to Winston Churchill and Bertrand Russell. The prize also was awarded in 1902 to Christian Mommsen, most noted for his historical writing on Rome.