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Electronic Arts, GM, Zogenix, Macy's and JC Penney are big market movers

NEW YORK, N.Y. - Stocks that moved substantially or traded heavily Tuesday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE J.C. Penney Co. Inc., up 25 cents to $8.67 Wall Street is starting to take note of the retailer's efforts to turn itself around, and Citigroup upgraded the company's stock. General Motors Co., down $1.91 to $35.18 A congressional committee is investigating the way the carmaker and federal regulators handled a deadly ignition-switch problem. Macy's Inc., up 82 cents to $58.94

World has new top banana as fruit giants Chiquita of US and Fyffes of Europe merge

DUBLIN - Yes, they have more bananas. Fruit supply companies Chiquita of the United States and Fyffes of Ireland said Monday they had agreed to merge to create the world's biggest banana supplier. The all-shares agreement means the two companies will become ChiquitaFyffes PLC, be traded on the New York Stock Exchange and be headquartered in Dublin, a more tax-efficient corporate base.

US stocks dip on weak Asian data, Ukraine

US stocks Monday fell in early trade following disappointing economic data from China and Japan and continued tension over Ukraine. About 30 minutes into trade, the Dow Jones Industrial Average declined 47.92 (0.29 percent) to 16,404.80. The broad-based S&P 500 dipped 2.09 (0.11 percent) to 1,875.95, while the tech-rich Nasdaq Composite Index edged 0.37 (0.01 percent) lower to 4,335.85. Weekend economic data from China raised questions about the outlook for the world's second largest economy.

Chiquita, Ireland's Fyffes merge to form top banana supplier

US-based Chiquita Brands and Ireland's Fyffes Plc said Monday that they are merging, a deal that would create the world's biggest banana supplier with annual revenue of $4.6 billion. In the stock-for-stock transaction Chiquita shareholders will own approximately 50.7 percent of the new company, named ChiquitaFyffes Plc, and Fyffes shareholders owning the remainder, the companies announced in a joint statement. The combined company will be listed on the New York Stock Exchange and based in Ireland. The Chiquita and Fyffes brands will also continue, the statement read.

Chiquita, Ireland's Fyffes merge, become top banana supplier

US-based Chiquita Brands and Ireland's Fyffes Plc said Monday that they are merging, creating the world's larget banana supplier with annual revenue of $4.6 billion. In the stock-for-stock transaction Chiquita shareholders will own approximately 50.7 percent of the new company, named ChiquitaFyffes Plc, and Fyffes shareholders owning the remainder, the companies announced in a joint statement. The combined company will be listed on the New York Stock Exchange and based in Ireland. The Chiquita and Fyffes brands will also continue, the statement read.

Mexican regulators declare America Movil, Televisa to be dominant

Mexico City, Mar 8 (EFE).- America Movil will face asymmetrical regulation in areas including interconnection and infrastructure sharing after being declared the dominant player in Mexico's telecommunications sector, the company said. Friday's announcement by the Carlos Slim-controlled company came just hours after Grupo Televisa said it was named "preponderant economic agent" in the broadcasting market, a label that latter company said would imply a series of "substantial and restrictive measures, terms, conditions and obligations."

Mexico telecoms regulator reins in Slim and his empire

By Tomas Sarmiento and Christine Murray MEXICO CITY (Reuters) - Mexico's telecommunications watchdog unveiled a slew of regulations on Friday to claw back the massive telephone business of billionaire Carlos Slim, but said it would not order a break-up of his companies for now. Mexico is trying to open up its phone and TV industries to more competition following last year's passage of a major telecoms reform that targets the vast market shares enjoyed by Slim and the country's no. 1 broadcaster, Televisa.

Mexico places restrictions on Slim, America Movil

Mexican regulators said Friday that the country's main television network and Carlos Slim's telecom company were "preponderant" market players and ordered them to open up to competitors. Slim-controlled America Movil said it was reviewing the Federal Telecommunications Institute's decision, which included regulations to eliminate national phone roaming charges and improve information for consumers and quality of service.

Moody's boosts outlook for Netherlands, Belgium

Moody's raised its credit outlook for the Netherlands and Belgium on Friday, elevating both to stable from negative as the eurozone economy improves. The Netherlands kept its top-level Aaa rating, while Belgium was three levels down at Aa3. Moody's said the Netherlands outlook improved because it was less likely to be called on to help fund rescues of weaker eurozone countries, including troubled Italy and Spain.

Mexico hits main network with restrictions, sets first bidding for TV frequencies

MEXICO CITY - Mexican regulators hit the country's main television network with a double punch on Friday, declaring Televisa a "preponderant" market player and slapping restrictions on the company, which bills itself as the largest media outlet in the Spanish-speaking world. Regulators also approved plans to open bidding for two new nationwide TV channels, to foment more competition in an industry where the Televisa network holds about 70 per cent of non-cable viewership.
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