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* Kmart Corp. shareholders will be represented by a committee in the retailer’s bankruptcy reorganization, a victory for supermarket magnate Ronald Burkle, a major shareholder.
* A Goldman Sachs Group Inc. investment fund agreed to buy Berry Plastics Corp., a maker of plastic cups and housewares, for $837.5 million from First Atlantic Capital, JP Morgan Partners and Aetna Life Insurance Co.
* Federal antitrust regulators approved Sears, Roebuck & Co.’s $1.9-billion proposed purchase of Lands’ End Inc.
* U.S. retail gasoline prices fell 1 cent to $1.387 a gallon in the week ended Monday, the Energy Department said. California prices were the most expensive, falling 0.3 cent to $1.554 a gallon.
* Ireland’s money-losing national airline, Aer Lingus, will suspend its flights starting Friday because of a planned one-day walkout Thursday by its pilots. The company didn’t say when it would be able to resume its normal flight schedule.
* Vanguard Airlines Inc.’s request for a $13.5-million federal loan guarantee was rejected by the Air Transportation Stabilization Board. The airline, which wanted to use the guarantee to get $15 million in financing, “did not provide a reasonable assurance that Vanguard will be able to repay the loan,” the government said.
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