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German lawmakers approved a major bailout for the struggling Meyer Werft shipyard on Wednesday, clearing the way for a temporary state takeover of the shipbuilder. The budget committee of the Bundestag, as Germany’s national parliament is known, signed off on a €200 million ($220 million) government investment to stabilize Meyer Werft. The shipyard, best known for building large cruise ships, fell into serious financial trouble after business was upended during the coronavirus pandemic. The shipyard had signed contracts to build a number of ships, but then found itself swamped by rising costs …

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