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Business news in brief

British Airways planes at London Heathrow Airport. Parent IAG has made a new takeover offer to Aer Lingus . The improved offer of 2.55 euros ($2.85) per share values the Irish flag carrier at more than $1.45 billion. IAG has made previous offers to Aer Lingus, but all were rejected. Aer Lingus is asking for conditions, including "irrevocable commitments" from its two biggest shareholders, Rival budget carrier Ryanair and the Irish government.
British Airways planes at London Heathrow Airport. Parent IAG has made a new takeover offer to Aer Lingus . The improved offer of 2.55 euros ($2.85) per share values the Irish flag carrier at more than $1.45 billion. IAG has made previous offers to Aer Lingus, but all were rejected. Aer Lingus is asking for conditions, including "irrevocable commitments" from its two biggest shareholders, Rival budget carrier Ryanair and the Irish government.Read moreAssociated Press

In the Region

We're not big on budgeting

A TD Bank survey found that during the recent holidays, Philadelphia-area residents were less likely than people in other major TD Bank markets - Boston, New York, and Florida - to set a budget and stick to it. Only 32 percent of Philadelphians had a budget, compared with 39 percent of New Yorkers, 42 percent of Floridians, and 41 percent of Bostonians. Philadelphians lagged in other areas, too, according to the survey, based on online interviews from Jan. 13 to 19. In the New York area, for example, 45 percent of people surveyed were satisfied with their financial health, compared with 38 percent in Florida, 37 percent in Boston, and 31 percent in Philadelphia. The survey of 1,444 people had a margin of error of plus or minus 2.6 percent. - Harold Brubaker

Bus-wreck passengers file suit

Eleven Philadelphia-area passengers injured in a 2013 bus crash in Boston have sued the makers of the GPS devices allegedly used by the bus driver. The bus, carrying 33 students and nine chaperones, was returning to Bucks County from a day at Harvard University when it struck an overpass. The group was from the Destined for a Dream Foundation in Bristol, a nonprofit organization for underprivileged youths. The suit, filed Friday in Boston, claims the Tomtom and Garmin GPS devices put the bus driver on an inappropriate route "in disregard of a foreseeable and foreseen risk." The suit also named as defendants the Bucks County bus driver and owner, the bus manufacturers, and the Massachusetts Department of Conservation and Recreation, which maintained the road and its signs. - Paul Nussbaum

Pipeline meetings canceled

The Federal Energy Regulatory Commission canceled the first two public "scoping" meetings this week on the proposed $1 billion PennEast Pipeline because of severe winter weather, said FERC spokeswoman Tamara Young-Allen. The agency postponed meetings Tuesday at the College of New Jersey in Ewing and Wednesday at Bucks County Community College in Newtown, Young-Allen said. FERC will reschedule the events before the public comment period ends on Feb. 27, she said. Meetings scheduled for Feb. 10 in Bethlehem, Pa., Feb. 11 in Jim Thorpe, Pa., and Feb. 12 in Wilkes-Barre are unaffected. The proposed 108-mile pipeline, to be operated by UGI Energy Services, would deliver natural gas from the Marcellus Shale region in Northeastern Pennsylvania to a pipeline interconnection near Trenton. - Andrew Maykuth

ABC launches MWI tender offer

Pharmaceutical wholesaler AmerisourceBergen Corp., of Valley Forge, launched its previously announced tender offer for shares of MWI Veterinary Supply Inc. AmerisourceBergen agreed to acquire MWI in a $2.5 billion deal announced Jan. 12. The company will pay $190 per share for MWI. - Reid Kanaley

Lannett to beat estimates

Philadelphia drugmaker Lannett Co. said it expects to report fiscal second-quarter net sales of about $115 million and earnings-per-share between $1.18 and $1.21. That compares with sales of $67.3 million, and profit of $16.6 million, or 46 cents per share for the year-ago period. The figures beat estimates, and shares rose. The company said higher gross margin drove the improvement. Lannett will report full financial results for the latest quarter on Feb. 4. - Reid Kanaley

SBA names new area director

The U.S. Small Business Administration said Antonio Leta had been named director of its Eastern Pennsylvania division, succeeding David Dickson, who retired in September. Leta, 58, of Blue Bell, was once a top executive at George Weston Bakeries. Most recently he was deputy associate administrator for capital access at SBA headquarters in Washington. - Harold Brubaker

Funding for 48 Factoring

Six-month-old financial-services company 48 Factoring Inc., of Wayne, said investors have agreed to provide $4.7 million in the form of debt. The company, which says it uses proprietary software to assess funding risk and "create innovative solutions" for small business, did not name the investors. - Reid Kanaley

N.J. to weigh Hard Rock bid

The New Jersey Casino Control Commission is scheduled to hold a special meeting Thursday to consider Seminole Hard Rock Entertainment Inc.'s bid for preliminary approval to operate a casino in Atlantic City. The company, which owns the Hard Rock brand, applied nearly a year ago for a "statement of compliance," which is a preliminary step in becoming licensed to own a casino in New Jersey, according to the Associated Press. It's not clear whether Hard Rock has specific plans. - Harold Brubaker

CSS raises dividend

Greeting-card and gift-wrap maker CSS Industries Inc., of Philadelphia, said it raised its quarterly dividend to 18 cents per share, from 15 cents, payable March 16 to shareholders of record March 2. The company also said sales for the latest quarter fell 1.2 percent, to $105.0 million. Profit was $9.8 million, or $1.04 per share, compared with $11.0 million, or $1.18 per share, in the prior-year period. - Reid Kanaley

Elsewhere

Deficit falls on U.S. growth

The Congressional Budget Office said the federal deficit will be $468 billion for the budget year that ends in September. That's slightly less than last year's $483 billion deficit. At 2.6 percent of the country's gross domestic product, the office says, this year's deficit will account for less in GDP than the historical average of the last 50 years. CBO projects solid economic growth for the next few years. - AP