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Mexico TV mogul Salinas says telecoms watchdog does not go far enough

By Gabriel Stargardter MEXICO CITY (Reuters) - Ricardo Salinas, the billionaire owner of Mexico's TV Azteca, said on Monday that the new telecommunications regulator, created by a phone and TV industry overhaul, does not have sufficient power to effectively police companies it deems too powerful.

Moody's cuts Ukraine rating on rising political crisis

Rating firm Moody's again lowered Ukraine's credit rating by a notch, citing the "escalation" of its political crisis, and put the country on a "negative" outlook for further cuts. Moody's pushed the country's rating further into speculative territory, to "Caa3" from "Caa2" -- a one-notch move matching the rating firm's prior downgrade in January. jt/vs/nss

Moody's cuts Ukraine rating on rising political crisis

Rating firm Moody's again lowered Ukraine's credit rating by a notch on Friday, citing the "escalation" of its political crisis, and put the country on a "negative" outlook for further downgrades. Moody's Investors Service pushed the country's rating deeper into speculative territory, to "Caa3" from "Caa2" -- a one-notch move matching the rating firm's prior downgrade in January. Three factors which underlie Ukraine's longstanding economic and fiscal fragility drove the downgrade, the rating firm said.

An expanded global footprint propels Monsanto past Wall Street's hopes for the second quarter

ST. LOUIS - Monsanto's second-quarter earnings jumped 13 per cent on strength from its core seeds and traits business. The agriculture products company topped Wall Street expectations for both profit and revenue, sending shares higher before the opening bell Wednesday. Monsanto earned $1.67 billion, or $3.15 per share, 7 cents better than what analysts polled by FactSet had projected. A year ago, the company earned $1.48 billion, or $2.73 per share. The performance was particularly strong, given the slow start to a quarter in which winter storms delayed shipments.

Mexican tycoon Slim's America Movil challenges telecom ruling

MEXICO CITY (Reuters) - Carlos Slim's phone and Internet giant, America Movil, has challenged a ruling by Mexico's new telecommunications regulator that says the company dominates its market. America Movil said Tuesday in statement filed with the Mexican stock exchange that it has filed an injunction against the regulator's ruling.

Macy's chief merchant named president in possible succession move

By Phil Wahba NEW YORK (Reuters) - Macy's Inc <M.N> said on Monday it promoted its chief merchandising officer, Jeffrey Gennette, to president of the company, in a move that positions him to potentially become the retailer's next chief executive. In addition to continuing to serve as Macy's Inc's chief merchant, Gennette will manage Macy's in-house brands, such as INC, which generate 20 percent of company revenue. Gennette also oversees the department store chain's marketing and e-commerce.

Brazil economy to feel scant benefit from Cup: Moody's

Although some sectors in Brazil will gain a boost from the World Cup, the tournament will not have a major economic effect, Moody's rating agency forecast Monday. Standard and Poor's last week cut Brazil's rating to one notch above junk status over sagging growth and inflationary pressures, although Brasilia insisted the South American giant's economy would repond "robustly." Moody's forecast sectors such as retail, food and beverages, accommodation and advertising sectors stood to gain from the June 12-July 13 sporting extravaganza.

Coast Guard says crews spot no more oil on Lake Michigan shore near Indiana BP refinery spill

WHITING, Ind. - The Coast Guard says crews didn't find any more oil during the latest search of the Lake Michigan shore following last week's spill at BP's northwestern Indiana refinery. Officials say a Coast Guard, BP and U.S. Environmental Protection Agency assessment team checking the area near the Whiting refinery on Sunday spotted no visible oil on the shore or in the water. Cleanup workers spent last week removing oil from about a half-mile section of shoreline.

Moody's puts Russia on review for downgrade

Moody's put Russia's credit rating on review for a possible downgrade Friday, saying the Ukraine crisis could exacerbate its already troubled economy. The ratings agency's Investor Service said that if the review confirms that Russia's economic strength is being eroded by the situation, it could lead to a one-notch cut in the country's Baa1 rating. The current crisis "could significantly dampen investor sentiment for several years to come by adding to existing deterrents to investment posed by Russia's weak rule of law and high levels of corruption," Moody's said.

Moody's puts Russia on review for downgrade

Moody's put Russia's credit rating on review for a possible downgrade Friday, saying the Ukraine crisis could exacerbate its already troubled economy. The ratings agency's Investor Service said that if the review confirms that Russia's economic strength is being eroded by the situation, it could lead to a one-notch cut in the country's Baa1 rating. The current crisis "could significantly dampen investor sentiment for several years to come by adding to existing deterrents to investment posed by Russia's weak rule of law and high levels of corruption," Moody's said.
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