My Week If there was any justice in the financial world, the people who run the big debt rating agencies would be hanging from lamp-posts along with the investment bankers for the way in which their activities contributed to the 2008 financial crash. But they emerged pretty well unscathed, barring a few uncomfortable sessions before congressional committees. Politicians threatened all sorts of legislative nasties at the time, but it turned out to be all sound and fury signifying not very much.
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Saturday 04 September 2010
Wednesday 01 September 2010
Even the name causes a shiver
Thursday 26 August 2010
The colossal expense of rescuing Ireland's troubled banking sector has hit the republic's international credit rating once again.
Wednesday 18 August 2010
Outlook This is becoming rather tiresome. It may make for good knockabout politics, but George Osborne cannot simply go on dismissing all critics of the Coalition Government's cuts as "deficit deniers", as he did yesterday. That phrase was particularly unfortunate given its connotations, but the underlying issue is the growing concern about the programme upon which the Chancellor has embarked and the fact that Mr Osborne dismisses it so cheaply.
Sunday 08 August 2010
Thursday 22 July 2010
Outlook Given the kicking the three big American credit-ratings agencies have taken for their failures during the financial crisis, they can hardly be surprised to see would-be rivals emerging. There is already talk of the launch of a new European agency, but the greater threat to Standard & Poor's, Moody's and Fitch might come from China.
Wednesday 14 July 2010
Portugal was dealt a blow yesterday as Moody's cut its credit rating, warning the economy would weaken further in the next few years.
Tuesday 13 July 2010
The ratings agency Standard & Poor's warned yesterday that it might cut Japan's sovereign grade as the ruling party's mauling in a weekend election created new hurdles for the plans of the new Prime Minister, Naoto Kan, to cut huge public debt.
Friday 09 July 2010
Amy Adams's credit rating plunges in this offensively unfunny dross. She plays Anna, an uptight Bostonian who pursues her smug doctor boyfriend (Adam Scott) to Dublin in order to propose to the dullard.
Tuesday 22 June 2010
The UK's gold-plated AAA credit rating received a major boost today after ratings agency Fitch said Chancellor George Osborne's Budget would "materially strengthen confidence" in the nation's public finances.
Thursday 17 June 2010
One of Wall Street's biggest banks has told its traders not to sign any contracts with BP that last more than a year, as concerns over its financial position continued to buffet the market.
Thursday 03 June 2010
Beleaguered oil giant BP came under more pressure today after its credit rating was cut amid fears over the soaring cost of the Gulf of Mexico disaster.
Sunday 30 May 2010
Threats of a general strike in Spain intensified this weekend following Friday's decision by the credit agency Fitch Ratings to downgrade the country's debt from AAA to AA+.
Friday 14 May 2010
Slowly but surely, America's justice system is waking up to the idea that there is some mileage in going after the banks at the centre of the financial crash of 2008. Hot on the heels of the Goldman Sachs SEC charges comes an investigation by the New York attorney general Andrew Cuomo into whether eight Wall Street banks misled the big credit ratings agencies so they would give the mortgage securities at the centre of the collapse a clean bill of health.
Thursday 13 May 2010
The markets were mixed as the UK's new coalition government took shape yesterday, with shares and gilts rising on hopes of swift action on the yawning budget deficit, but sterling falling against the euro and the dollar after the Bank of England issued dovish growth and inflation forecasts.
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