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BEIJING, China (AFP) — China on Friday lashed out at the decision by Standard & Poor’s to downgrade the country’s credit rating, calling the warning against ballooning debt “mistaken” and based on “cliches” about its economy. The agency slashed China from AA-minus to A-plus on Thursday, a move that followed a similar decision in May by Moody’s stemming from concerns that the world’s second largest economy is increasingly overleveraged. “Standard & Poor’s downgrade of China’s […]
NEW YORK, United States (AFP) — Wall Street stocks finished at fresh records Friday following solid bank earnings, while the dollar retreated after lackluster US data raised questions about additional Federal Reserve rate hikes. The Dow and S&P 500 ended at fresh records in anticipation that teh positive bank results foreshadow a generally strong earnings period. The records, the third in a row for the Dow, capped a strong week for US stocks that some […]
WASHINGTON, United States (AFP) – Rating firm Standard & Poor’s said it was prepared to cut Puerto Rico’s credit rating to default as it expects the US territory will fail to make a crucial payment Friday. Puerto Rico already has missed several payment deadlines. The Caribbean island was expected to default on some $2 billion in debt payments due Friday, despite a rescue plan signed into law Thursday by President Barack Obama. “Puerto Rico, in […]
(Reuters) – ECB chief Mario Draghi said on Monday the bank must be “particularly watchful” for any negative price spiral in the euro zone. His comments increased bets that the bank was ready to cut rates next week to counter low inflation and weak lending in the euro zone, keeping asset purchases as an option. U.S. markets, which were closed Monday for Memorial Day, had to digest the ECB news. “(It’s) a rate cut or […]
By Chuck Mikolajczak NEW YORK Mon Apr 21, 2014 5:14pm EDT (Reuters) – U.S. stocks advanced modestly on Monday in subdued trading as investors showed hesitation in the wake of a strong rally last week and before a slew of key earnings releases this week. Monday’s gain marked the S&P 500’s fifth straight climb, its longest winning streak since October. The S&P 500 wrapped up its best week since July last week, boosted by results […]
