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English to Spanish: Italy Makes Plans to Cut Debt and Revive Growth General field: Bus/Financial
Source text - English http://www.nytimes.com/pages/business/economy/index.html?src=busfn
Italy Makes Plans to Cut Debt and Revive Growth
By ELISABETTA POVOLEDO
Published: June 15, 2012
ROME — The Italian government moved forward on Friday with a wide-ranging package of economic measures worth about 80 billion euros, or $101 billion, that were meant both to spur economic growth and make a dent in the country’s unsustainably large public debt.
Prime Minister Mario Monti announced Friday that his administration had approved an “organic and robust” package that would include the sale of state assets and a significant reduction in public spending, including staff cuts and the abolition of some state agencies.
Incentives would be offered to construction companies, as well as companies that hire young people and highly educated workers, an effort to counteract a “brain drain” under way in Italy.
The proposals would require approval of both chambers of Parliament, and initial reactions suggested that some trade unions would resist the plan.
“The real objective is to dismantle the public administration and the country’s welfare system,” Massimo Betti, a representative of a public administration trade union, said in a statement. He called on public workers to strike against the measures this month.
Detailing the measures to reporters after a long cabinet meeting, the economic development minister, Corrado Passera, spoke of “deep structural reforms” that would have a “relevant impact” on the Italian economy. Various ministers were involved in writing the measures, he said, to better address the problems that have dragged down the Italian economy for more than a decade.
Translation - Spanish Comment: This translation follows the standards of Real Academia Española y Asociación de Academias de la Lengua Española (2009 & 2010)
Italia elabora planes para reducir la deuda y reactivar el crecimiento
Por Elisabetta POVOLEDO
Publicado el 15 de junio de 2012
ROMA. El Gobierno italiano acordó el viernes implementar un amplio paquete de medidas económicas de cerca de 80 000 millones de euros, o de 101 000 millones de dólares estadounidenses, para estimular el crecimiento económico y reducir la enorme e insostenible deuda pública del país.
El primer ministro Mario Monti anunció el viernes que su Gobierno había aprobado un paquete «estructural y potente» que comprendería la venta de activos estatales y una reducción importante del gasto público, con recortes de personal y la supresión de algunos organismos estatales.
Con el fin de contrarrestar la actual «fuga de cerebros» de Italia, se ofrecerían incentivos a las empresas de construcción y a las empresas que contratasen a personas jóvenes y a trabajadores con educación superior. Las propuestas requerirían la aprobación de ambas cámaras del Parlamento. Las primeras reacciones indicaron que algunos sindicatos se opondrían al plan.
Massimo Betti, representante de un sindicato de la Administración pública, expresó en un comunicado: «El objetivo real es desmantelar el sistema de la Administración pública y el sistema de seguridad social del país». Convocó a los trabajadores estatales a efectuar este mes una huelga contra las medidas.
El ministro de Desarrollo Económico, Corrado Passera, después de una larga reunión de Gabinete, cuando les detalló las medidas a los periodistas habló de «profundas reformas estructurales» que tendrían un «efecto importante» en la economía italiana. Dijo que en la elaboración de las medidas participaron varios ministros a fin de abordar mejor los problemas que provocaron la depresión de la economía italiana durante más de diez años.
English to Spanish: Spin-Off of Orchard Supply Hardware Stores Corporation General field: Law/Patents Detailed field: Accounting
Source text - English http://www.searsholdings.com/invest/docs/SHC_2011_Form_10-K.pdf#pagemode=thumbs&page=1&zoom=100,0,0
Page 4/122
Spin-Off of Orchard Supply Hardware Stores Corporation
On December 30, 2011, we completed the spin-off to our shareholders of all of the capital stock of Orchard Supply Hardware Stores Corporation (“Orchard”) that was owned by Holdings immediately prior to the spin-off, consisting of common stock that represented approximately 80% of the voting power of Orchard’s outstanding capital stock and preferred stock that represented 100% of Orchard’s outstanding nonvoting capital stock. We expect that the spin-off will be tax-free to Holdings’ shareholders for U.S. federal income tax purposes, except for any cash received in lieu of shares. In connection with the spin-off, Holdings and certain of its subsidiaries entered into various agreements with Orchard, including a distribution agreement, a transition services agreement, an appliance sale and consignment agreement and brand license agreements. In addition, certain tax matters between Holdings and Orchard are governed by a tax sharing agreement entered into in 2005.
Acquisition of Noncontrolling Interest in Sears Canada
During 2010 and 2009, we acquired approximately 19 million and 0.5 million, respectively, of Sears Canada’s common shares in open market transactions. We paid a total of $560 million and $7 million, respectively, for the additional shares and accounted for the acquisitions of additional interest in Sears Canada as an equity transaction in accordance with accounting standards on noncontrolling interests. Accordingly, we reclassified an accumulated other comprehensive loss from noncontrolling interest to controlling interest in the Consolidated Statement of Equity
Translation - Spanish Coment: This translation follows the standards issued in 2009 and 2010 by Real Academia Española y Asociación de Academias de la Lengua Española. In order to explain localization preference and term uses, this translation includes some footnotes. It is important to remark that some Spanish speaking countries have adopted the International Financial Reporting Standards and other countries have adapted them. Therefore, some terms may vary from one country to another. Please note that Proz does not keep the original format (italic fonts, etc.)
Escisión y transferencia de acciones de Orchard Supply Hardware Stores Corporation
El 30 de diciembre de 2011 perfeccionamos la transferencia a nuestros accionistas de las acciones correspondientes a todo el capital accionario de Orchard Supply Hardware Stores Corporation (en lo sucesivo «Orchard») que pertenecía a Holdings inmediatamente antes de la escisión y que consistía en acciones ordinarias que representaban aproximadamente el 80 % del capital accionario en circulación con derecho a voto de Orchard y en acciones preferidas que representaban el 100 % del capital accionario en circulación sin derecho a voto. Esperamos que la transferencia de activos no sea imponible para los accionistas de Holdings a los efectos del impuesto a las ganancias federal de los Estados Unidos de América, excepto por todo dinero recibido en lugar de acciones. En relación con la transferencia de acciones, Holdings y algunas de sus filiales celebraron diversos contratos con Orchard, entre ellos un contrato de distribución, un contrato de servicios de transición, un contrato de venta y consignación de aparatos electrodomésticos y contratos de licencia de marcas. Además, algunos aspectos impositivos entre Holdings y Orchard se rigen por un contrato sobre cómo compartir el pago de impuestos [Tax Sharing Agreement] celebrado en 2005.
Adquisición de participación no controladora en Sears Canada
En 2010 y 2009 adquirimos aproximadamente 19 millones y 0,50 millón, respectivamente, de acciones comunes de Sears Canada en operaciones de mercado abierto. Pagamos un total de USD 560 millones y USD 7 millones respectivamente por la adquisición de las acciones adicionales. Contabilizamos las adquisiciones de la participación adicional en Sears Canada como una transacción de patrimonio , de conformidad con las normas contables sobre participaciones no controladoras. Por consiguiente, en el estado de cambios en el patrimonio consolidado reclasificamos otra pérdida integral acumulada de participación no controladora a participación controladora.
Translator's notes:
1. Some countries use 'acciones comunes' instead of 'acciones ordinarias.'
2. Acciones preferidas; in some countries: 'acciones preferentes.'
3. Some countries use:' impuesto a la renta' (Spain, Cost Rica); most Latin American countries use 'impuesto a las ganancias.'
4. Since the official name of Mexico is Estados Unidos Mexicanos, it is translated as Estados Unidos de América for clarity purposes.
5. Some countries may use 'controlante' instead of 'controladora'. However, the International Financial Reporting Standards in Spanish use 'controladora'.
6. “Sears Canada” is a proper name.
7. Some countries may use 'capital' instead of 'patrimonio.'
8. Some countries may use a different name ('estado de cambios en el patrimonio neto';'estado de evolución del patrimonio neto'; 'estado de cambios en el capital'; etc.) It is important to apply localization. Those countries which have adapted (and not adopted) the International Financial Reporting Standards may use other name, according to the respective accounting standards approved by the authorities of the respective country.
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Master's degree - Universidad Nacional de Cuyo (Argentina)
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Years of experience: 15. Registered at ProZ.com: Oct 2009.
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Bio
After working several years as accountant and controller for companies from different industries in English, French, and Spanish, I became a full-time translator in 2008. My CPA curriculum comprised nine branches of law; therefore, I began my translation career by translating legal and financial texts. Afterward, I started a master's in translation program; at that time, a translation agency contacted me to translate pharmaceutical and medical texts too. The courses on medicine and microbiology of the three-year program for surgical nurse technician that I had taken after secondary school were very useful for my new translation specialty.
I am interested in my continuous education and have taken several courses on law, medicine, fine arts, religion, and social sciences imparted in English. My thesis of the master's in translation program consisted of the translation of a cultural text on world religions and the analysis of the translation strategies applied.
I am originally from Argentina. At school, I learned Spanish from Spain. I use a neutral Spanish with localization according to the respective regulatory or legal terminology. I research subjects thoroughly by consulting reliable sources written originally in the source language and the target language.
I am a voracious reader in English, French, and Spanish. I watch tennis on TV. I am a cinephile.
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