Mark Gray News
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Romania, the European Union’s second-poorest member, has taken steps to address “serious concerns” about eroding democracy and needs to increase the pace of reforms to keep the judiciary independent, the EU said.
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Leighton Properties, the real estate arm of Leighton Holdings Ltd., plans to expand developments in resource-rich areas of northwestern Australia and northern Queensland state and will seek opportunities in Asia.
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Romania and Bulgaria, the European Union’s two poorest members, have made progress in fighting crime and corruption and need “stronger action” to ensure transparency and revamp their judiciaries, the EU said.
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More U.S. companies had their credit ratings boosted by Standard & Poor’s this year than saw them cut for the first time since 1997 as borrowers increased profits and stockpiled cash.
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Companies have more incentive to reward shareholders at the expense of bondholders as the benefits of maintaining high ratings disappear, signaling two years of improved creditworthiness may be peaking.
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Companies have cut the median amount of debt compared to earnings since the first quarter of 2009 as credit quality continues to improve, according to a report from Moody’s Investors Service .
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A benchmark indicator of corporate credit risk in the U.S. climbed for the third time this month as the cost of protecting bank debt rose amid scrutiny over home foreclosure practices.
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JPMorgan Chase & Co. , the second- largest U.S. bank, and missile maker Raytheon Corp. led corporate debt sales in the U.S. this week as the pace of issuance slows.
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