- - Monday, November 12, 2012

CLEVELAND — Sherwin-Williams is buying the privately held Mexican paint company Consorcio Comex in an all-cash deal valued at about $2.34 billion.

Consorcio Comex, S.A. de C.V., sells paints and coatings under several brands in the United States and Canada, and it sells architectural and industrial coatings in Mexico. It has company-operated stores and also works with independent paint dealers.

The company is based in Mexico City and had a total of $1.4 billion in sales last year. It employs 7,200 people and runs manufacturing sites in Mexico, the United States and Canada.

TECHNOLOGY

LED replacement headed to stores empty of 100W bulbs

NEW YORK — The first LED bulbs that are about the same size and brightness as regular 100-watt bulbs are reaching stores. They provide an alternative to compact fluorescents after the federal government banned the production of regular 100-watt bulbs at the start of the year because they are not energy efficient.

Using light-emitting diodes, the new bulbs from Osram Sylvania use 20 watts and cost $50.

EUROPE

Creditors propose giving Greece 2-year deadline

BERLIN — Greece’s international creditors are proposing granting the country two more years to meet its debt reduction targets as the country enters its sixth consecutive year of recession, according to a draft document obtained by The Associated Press Monday.

But the draft memorandum of understanding lacked crucial specifics on how much additional assistance the country would need and how that shortfall should be addressed, just as the finance ministers from the 17 countries that use the euro gathered in Brussels to discuss Greece’s situation.

TAXES

Google, Amazon and Starbucks face questions on tax avoidance

LONDON — British lawmakers on Monday accused major multinational companies of aggressive tax avoidance, amid calls by the U.K. government for a global crackdown on firms which seek to evade tax.

In sometimes bitter exchanges at a parliamentary committee hearing, legislators questioned Starbucks, Google and Amazon about the amount they pay to the U.K. government in taxation.

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