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Guyana warns Venezuela on maritime dispute

Guyana warned Monday it would “vigorously” resist any attempt by Venezuela to enforce a new claim over coastal waters where Exxon Mobil recently announced an important oil find. Caracas issued a decree May 27 laying claim to waters off the Essequibo, a disputed territory that borders Venezuela and encompasses more than half of Guyana. The Venezuelan action came less than a month after Exxon Mobil said it had made a

Sears reports smaller first-quarter loss but sales keep sliding

The company expects its plan to spin off 235 Sears and Kmart stores into a real estate investment trust to be approved by the Securities and Exchange Commission this week, paving the way for a rights offering to sell shares in the REIT to existing shareholders on Friday. Sears said some of the decline was expected as it shrinks operations.