ABB: powering up

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ABB spreads have been somewhat depressed while the Swedish firm has wrestled with ongoing asbestos litigation in the US. Spreads became volatile recently when ABB was hit by accounting irregularities in one of its Italian subsidiaries. And several of its non-core operations continue to post losses.

But with its Step Change restructuring and asset disposal programme under way with the successful sale of its insurance business, as well as ABB hitting its most recent operating performance targets

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