Debt crisis makes Mafia Italy’s biggest bank
Diane Alter – AHN News Reporter Rome, Italy (AHN) – Italy’s banking system has a new “boss.” Thanks to the country’s ballooning debt crisis, the Mafia is Italy’s biggest “bank,” according to a study by Confesercenti. The country’s four mafia groups have expanded from their storied strongholds in the sun-baked “Mezzogiomo” south of Rome, and [...]
China warns U.S. on managing debt
Diane Alter – AHN News Trivia Writer Hong Kong, China (AHN) – To date, China has had no problem buying United States debt, but recently, it seems they are having second thoughts. On Wednesday, China’s central bank governor called for the U.S. to “take responsible policy measures to handle its debt.” The announcement came a [...]
S&P says it may cut U.S. AAA credit rating
Vittorio Hernandez – AHN News Washington, D.C., United States (AHN) – Standard & Poor’s said on Thursday that it may downgrade the U.S.’s AAA credit rating. The ratings agency says that Washington has a 50% chance of a credit rating cut. The S&P warning came a day after another ratings agency, Moody’s Investors Service, made [...]
S&P equates delayed Greek debt payment to default
Vittorio Hernandez – AHN News Athens, Greece (AHN) – Even if the Greek parliament had passed last week two austerity program legislations that paves the way for the release of the country’s second tranche of loan from the European Union and the International Monetary Fund, a ratings agency is still wary of a Greek debt [...]
Savings in U.S. banks reach record $1.45 trillion in May
Vittorio Hernandez – AHN News Washington, D.C., United States (AHN) – More Americans continue to save in banks rather than borrow money from financial institutions. According to latest data from the Federal Reserve, savings in U.S. banks hit a record $1.45 trillion in May. The growing savings has been observed since the global financial crisis [...]
Money Men Want a Debt Deal – Now
Uncertainty on spending plan shakes weak economy Covert war in Yemen riles Congress on Libya Weiner trapped Perry may have fundraising power Good practice in health care lawsuit View full post on All Stories
Bond Risk Highest Since Eisenhower as U.S. Pushes Longer Issues
The risk of owning U.S. government debt is as great as any time since the 1950s with yields at the year’s lows and Treasury Secretary Timothy F. Geithner locking in borrowing costs by selling longer-term securities. View full post on All Stories
GOP freshman unconvinced on Geithner’s debt ceiling timetable
House Republicans are frustrated by the Treasury secretary’s refusal to present a “scorable” plan that would reduce the deficit. Read more… View full post on All Stories
Moody’s warns of U.S. credit downgrade if Washington’s debt limit is not hiked
Vittorio Hernandez – AHN News Washington, D.C., United States (AHN) – The Obama administration has found an unexpected ally in a ratings agency in the White House’s battle with Republican legislators over spending cuts and hiking the federal debt limit. On Thursday, Moody’s warned that it may downgrade Washington’s credit rating if the U.S. debt [...]
The Financial Landscape: Moody’s Mulls the Debt Ceiling; Groupon’s Unboring IPO
Filed under: Company News , Economy , Investing , Market News A roundup of news from around the world of finance: Moody’s Warns GOP of the Dangers of Its Debt Ceiling Game: Following its warning Thursday on the too-big-to-fail financials, Moody’s ( MCO ) announced Friday that the U.S. runs the risk of having its [...]
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