News

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.

Moody's warns of worse to come as it cuts Portugal rating

Portugal was dealt a blow yesterday as Moody's cut its credit rating, warning the economy would weaken further in the next few years.

Business Diary: S&P does the dirty on Moody's

There really is no loyalty in this world any more. You can see why people might have concerns about the outlook for Moody's, the credit ratings agency. All that regulatory scrutiny following the financial crisis can't be healthy for it, and Europe is mulling setting up its own rival to the big American firms. These are hardly auspicious times. Still, Moody's must be a little put out to see its own credit rating put on negative watch by rival Standard & Poor's. Presumably we can expect it to return the favour?

BP says oil spill costs have reached $2 billion

BP PLC said today that its partners in the leaking Gulf of Mexico oil well must share responsibility for the costs in dealing with the disaster, on which BP said it has now spent $2 billion.



Partner puts blame on BP as spill costs grow

BP Plc's costs for the worst oil spill in US history appeared set to rise as a partner in the out-of-control well laid the blame at BP's feet and the new federal tsar overseeing damage claims said BP would pay more if $20 billion (£13.5m) was not enough.

BP credit rating cut amid oil spill cost fears

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.

Wall Street bullied us, claim ratings agency staff

Staff at the credit ratings agency Moody's were bullied by Wall Street bankers, harassed by profit-hungry bosses and starved of the time and resources they could have used to check their disastrous ratings of mortgage derivatives, an inquiry into the causes of the credit crisis was told.

Summoned to New York, Buffett backs ally

The fundamental reason for Moody's disastrously optimistic credit ratings on billions of dollars of mortgage derivatives was not fraud or conflicts of interest, but simply the failure to predict a nationwide housing market collapse in the US, Warren Buffett said yesterday – and even he hadn't predicted such a thing.

Moody: 'I've had a great run at Leicester but at Bath we'll go from strength to strength'

As he faces the club he will join next season, Lewis Moody tells Chris Hewett why he senses an shift in the balance of power

Leading article: Credit where it isn't due

The 2008 banking meltdown revealed the credit rating agencies, those supposedly independent custodians of the global capital markets, to be incompetent. At the heart of that crisis two years ago were billions of dollars of securities made up of subprime mortgages which these agencies – Moody's, Standard & Poor's, and Fitch – had judged to be entirely safe. They were, of course, anything but. And those banks and financial firms that had crammed their balance sheets with these securities suddenly found themselves to be insolvent.

The make-or-break power of ratings agencies

Moody's, Fitch and S&P can shake up the markets and change a country's fortunes – but is it time to curb their influence, asks Nikhil Kumar

Tory claims that hung parliament would cause meltdown are dismissed

Credit rating agency rejects warning that Britain would be plunged into financial crisis if election result is inconclusive

Moody's cuts credit rating on Greece's debt

Greece's credit rating has been cut to A3 by Moody's Investors Service.

Europe markets rattled as Fitch lowers Portugal's credit rating

Stock markets tumble as debt worries prompt agency to cut rating to AA minus

Moody's says Britain's AAA credit rating is safe – for now

As he completes preparations for what could be one of the toughest Budgets in years, Alistair Darling has been treated to an unfamiliar chorus of encouraging news from the credit ratings agency Moody's, Bank of England policy maker Kate Barker and the gilts market.

Moody stuns Tigers by signing for Bath

Leicester hit by England flanker's decision to head to the Rec for next season
Career Services

Day In a Page

Independent Travel
Pompeii, Capri & the Bay of Naples
Dubrovnik, the Dalmatian Coast & Montenegro
Burgundy, the River Rhone & Provence
Lisbon, Oporto and the Douro Valley
Lake Garda, Venice & Verona
Spain
Prices correct as of 30 January 2015
Isis hostage crisis: The prisoner swap has only one purpose for the militants - recognition its Islamic State exists and that foreign nations acknowledge its power

Isis hostage crisis

The prisoner swap has only one purpose for the militants - recognition its Islamic State exists and that foreign nations acknowledge its power, says Robert Fisk
Missing salvage expert who found $50m of sunken treasure before disappearing, tracked down at last

The runaway buccaneers and the ship full of gold

Salvage expert Tommy Thompson found sunken treasure worth millions. Then he vanished... until now
Homeless Veterans appeal: ‘If you’re hard on the world you are hard on yourself’

Homeless Veterans appeal: ‘If you’re hard on the world you are hard on yourself’

Maverick artist Grayson Perry backs our campaign
Assisted Dying Bill: I want to be able to decide about my own death - I want to have control of my life

Assisted Dying Bill: 'I want control of my life'

This week the Assisted Dying Bill is debated in the Lords. Virginia Ironside, who has already made plans for her own self-deliverance, argues that it's time we allowed people a humane, compassionate death
Move over, kale - cabbage is the new rising star

Cabbage is king again

Sophie Morris banishes thoughts of soggy school dinners and turns over a new leaf
11 best winter skin treats

Give your moisturiser a helping hand: 11 best winter skin treats

Get an extra boost of nourishment from one of these hard-working products
Paul Scholes column: The more Jose Mourinho attempts to influence match officials, the more they are likely to ignore him

Paul Scholes column

The more Jose Mourinho attempts to influence match officials, the more they are likely to ignore him
Frank Warren column: No cigar, but pots of money: here come the Cubans

Frank Warren's Ringside

No cigar, but pots of money: here come the Cubans
Isis hostage crisis: Militant group stands strong as its numerous enemies fail to find a common plan to defeat it

Isis stands strong as its numerous enemies fail to find a common plan to defeat it

The jihadis are being squeezed militarily and economically, but there is no sign of an implosion, says Patrick Cockburn
Virtual reality thrusts viewers into the frontline of global events - and puts film-goers at the heart of the action

Virtual reality: Seeing is believing

Virtual reality thrusts viewers into the frontline of global events - and puts film-goers at the heart of the action
Homeless Veterans appeal: MP says Coalition ‘not doing enough’

Homeless Veterans appeal

MP says Coalition ‘not doing enough’ to help
Larry David, Steve Coogan and other comedians share stories of depression in new documentary

Comedians share stories of depression

The director of the new documentary, Kevin Pollak, tells Jessica Barrett how he got them to talk
Has The Archers lost the plot with it's spicy storylines?

Has The Archers lost the plot?

A growing number of listeners are voicing their discontent over the rural soap's spicy storylines; so loudly that even the BBC's director-general seems worried, says Simon Kelner
English Heritage adds 14 post-war office buildings to its protected lists

14 office buildings added to protected lists

Christopher Beanland explores the underrated appeal of these palaces of pen-pushing
Human skull discovery in Israel proves humans lived side-by-side with Neanderthals

Human skull discovery in Israel proves humans lived side-by-side with Neanderthals

Scientists unearthed the cranial fragments from Manot Cave in West Galilee