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India probes Google, Yahoo for possible forex violation-WSJ

Feb 13 - The Indian government is investigating whether the Indian units of U.S. Internet giants Google Inc and Yahoo Inc may have violated the country's foreign exchange laws, the Wall Street Journal said in report.

TEXT: Fitch Upgrades Hynix to 'BB' on SKT's Acquisition

SYDNEY/SEOUL, February 13 (Fitch) Fitch Ratings has upgraded Hynix Semiconductors Inc.'s (Hynix) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) and senior unsecured ratings to 'BB' from 'BB-' respectively and removed them from Rating Watch Positive. Stable Outlooks have been assigned. This follows the completion of SK Telecom Co., Ltd.'s (SKT, 'A-'/Stable) acquisition of 21% of Hynix.

TEXT: Fitch Downgrades SKT and SKB on Hynix Acquisition

SYDNEY/SEOUL, February 13 (Fitch) Fitch Ratings has downgraded SK Telecom Co., Ltd.'s (SKT) and SK Broadband Co., Ltd's (SKB) ratings and removed them from Rating Watch Negative (RWN) following the completion of SKT's acquisition of 21% of Hynix Semiconductors Inc. ('BB'/Stable). Stable Outlooks have been assigned. The agency has simultaneously withdrawn the ratings of SKB. A full list of rating actions is detailed below.

U.S. defense shares shrug off Pentagon cuts

WASHINGTON, Feb 13 - Shares in U.S. defense companies closed slightly higher on Monday, buoyed by aggressive dividend policies that helped offset the Pentagon's detailed breakdown of how it will implement $487 billion in spending cuts over the next decade.

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