New U.S. accounting rule seen pinching GM earnings

Newswire

By Arindam Nag

NEW YORK, July 8 (Reuters) - General Motors Corp.'s voracious appetite for raising money with contingent convertible bonds could abate, as U.S. authorities weigh changes in accounting for those securities that would cut the automaker's earnings per share.

Under recommendations being proposed by the Financial Accounting Standards Board, these convertible bonds, ...

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