ATHENS – Fitch cut Greece’s long-term ratings on Wednesday to its lowest rating above a default, becoming the first ratings agency to make the widely expected downgrade after the country announced a bond exchange plan to ease its massive debt burden.
Reuters: Business News
Archive for category Business
Fitch downgrades Greece on debt swap plan
Wall St loses steam after Dow crosses 13,000
NEW YORK – Stocks ended little changed on Tuesday, paring gains after the Dow topped 13,000 for the first time since May 2008, and as higher oil prices damped prospects for the economy.
Reuters: Business News
Wall Street up on Greek deal, Dow hits 13,000
NEW YORK – Stocks rose on Tuesday, with the Dow briefly topping 13,000 for the first time since May 2008, after Greece secured a bailout to avoid default, but gains were limited as investors had priced in expectations of a deal.
Reuters: Business News
Euro jumps, stocks pare losses on Greek deal
SINGAPORE – The euro jumped and Asian stocks pared losses on Tuesday after euro zone policy makers agreed to a second bailout package for Greece in marathon talks that went deep into the Brussels night.
Reuters: Business News
U.S. official “optimistic” on global accounting move
LONDON – A senior U.S. regulator was “optimistic” on Monday about finding a framework for the world’s top economy to use global book keeping rules for investors to compare cross-border companies.
Reuters: Business News
Stocks may strain to hold 9-month highs
NEW YORK – If upcoming earnings from U.S. retailers are as unimpressive as the rest of the profit season has been, Wall Street could face a tough time justifying a stock market at nine-month highs.
Reuters: Business News