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Moody's cuts Argentina rating, citing reserves fall

Moody's lowered its credit rating for Argentina by one step Monday, citing a sharp fall in the country's reserves and inconsistent economic policies. Moody's cut the rating to Caa1 from B3, putting it in the mid-range of "speculative" or junk bonds. The agency also cut its outlook for Argentina to negative from stable -- a warning that the country could face another downgrade.

Chesapeake eyes spin-off of oilfield services unit

Chesapeake Energy, the second-largest US natural-gas producer, said Monday it has notified regulators of a plan to spin off its oilfield-services subsidiary. The wholly owned unit of the struggling energy company, Chesapeake Oilfield Operating (COO), would have an initial public offering on the New York Stock Exchange, according to the preliminary information Chesapeake filed with the US Securities and Exchange Commission.

Mexico telecoms reform could take years to unseat Slim

By Christine Murray MEXICO CITY (Reuters) - Tycoon Carlos Slim, under fire from regulators in his home country, has spent the last two years sniffing out deals in Europe to offset an impending regulatory shake-up of Mexican telecoms. But though the reforms are the furthest-reaching measures passed against Slim since he became the dominant force in Mexico's telecoms market more than two decades ago, they are likely to take years to erode his hold on the business.

Moody's raises outlook for European Union to stable

Moody's raised its rating outlook for the European Union to stable from negative Friday, citing the improvement of its members' finances and falling risks from the eurozone debt crisis. Moody's affirmed the EU's top-flight Aaa rating and said the main reason for the outlook change is "the improvement in the credit standing of the largest shareholders that the EU relies on" in crises. It pointed to the improved ratings of Belgium, Germany, Italy, the Netherlands and Spain, countries whose ratings outlooks have recently turned stable or positive.

GE credit card unit files to go public

(Reuters) - General Electric Co's credit card unit filed for an initial public offering, the first step in the conglomerate's planned exit from the retail finance business. GE announced plans in November to spin off the business that makes credit card loans to consumers into a publicly traded company, which bankers estimated could be worth roughly $16 billion to $18 billion.

GE files for IPO of North American retail finance arm

General Electric Thursday filed papers for an initial public offering for its North American retail finance unit, its first step in a planned exit from the business in 2015. The new publicly-traded vehicle will be known as Synchrony Financial and will house assets that includes GE's credit-card operation with such leading retailers as Wal-Mart Stores and Amazon, according to a securities filing

GE plans retail finance spinoff called Synchrony Financial later this year as it alters focus

FAIRFIELD, Conn. - General Electric is moving ahead with plans to spin off its North American consumer lending unit, and it aims to complete an initial public offering for the business later this year. The company, to be called Synchrony Financial, estimates proceeds of up to $100 million from the offering, a figure it devised primarily to calculate a filing fee, according to a document filed Thursday with the Securities and Exchange Commission. The document did not indicate how many shares will be offered or at what price.

GE plans retail finance spinoff called Synchrony Financial later this year as it alters focus

FAIRFIELD, Conn. - General Electric is moving ahead with plans to spin off its North American consumer lending unit, and it aims to complete an initial public offering for the business later this year. The company, to be called Synchrony Financial, estimates proceeds of up to $100 million from the offering, a figure it devised primarily to calculate a filing fee, according to a document filed Thursday with the Securities and Exchange Commission. The document did not indicate how many shares will be offered or at what price.

Associated Press, Gannett, NBC, ABC & CBS journalists honoured with First Amendment awards

WASHINGTON - The Radio Television Digital News Foundation is presenting its First Amendment Award to The Associated Press for defending press freedoms against secret government subpoenas for reporters' phone calls. Journalists for Gannett, NBC, ABC and CBS were also cited for their efforts to protect a free press.

Brazil investigates alleged Petrobras graft case

Brazilian lawmakers have set up a committee to investigate alleged kickbacks made to state oil giant Petrobras by Dutch firm SBM Offshore. "What is happening now with Petrobras, with its shares falling, is the result of misappropriation of public funds," alleged opposition Social Democrat lawmaker Vanderlei Macris after the committee's formation was announced overnight Tuesday. The committee is due to travel to the Netherlands to investigate allegations of bribery running into tens of millions of dollars.
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