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Premarket roundup: Beef acquisition, airline merger

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May 7, 2008

Among the premarket stories for Wednesday, May 7, from AP Financial News:

WASHINGTON (AP) -- Brazilian firm JBS SA's bid to become the largest meatpacking firm in the U.S. will be the subject of a hearing Wednesday as lawmakers scrutinize consolidation in the agriculture business.

WASHINGTON (AP) -- The chief executives of Delta Air Lines Inc. and Northwest Airlines Corp. are scheduled to appear at another hearing on Capitol Hill Wednesday as they continue to rebut some lawmakers' concerns about the carriers' proposed combination.

WASHINGTON (AP) -- The government's embrace of ethanol as a substitute for gasoline will be scrutinized Wednesday as lawmakers analyze the causes of rising food prices.

NEW YORK (AP) -- Clearwire shares rose sharply in premarket trading Wednesday on a deal forming a new wireless venture with Sprint Nextel Corp.

WASHINGTON (AP) -- Government data due out Wednesday is expected to show that the rate of consumer borrowing edged up in March as Americans racked up more debt on their credit cards.

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