Fitch Ratings has retained the U.S. at its top 'AAA' credit rating but also left the outlook negative, citing the failure of Congress and the Obama administration to forge an agreement on reducing the budget deficit.
Long-time Japanese rivals Sony Corp. and Panasonic Corp. are working together to develop next-generation TV panels called OLEDs in a reversal of decades of rivalry as they try to catch up with South Korea's Samsung Electronics.
Euphoria over a lifeline of up to €100 billion ($125 billion) to rescue Spain's hurting banks morphed into a financial markets rout in a matter of hours Monday, as investors digested the still-undefined plan and became concerned the country may be unable to repay the new loans.
Fitch ratings agency says it has downgraded Spain's two largest international banks Banco Santander and Banco Bilbao Vizcaya Argentaria (BBVA) from A to BBB+.
JPMorgan Chase faces intense criticism for claiming that a surprise $2 billion loss by one of its trading groups was the result of a sloppy but well-intentioned strategy to manage financial risk.
Greece's creditors agreed Friday to take cents on the euro in the biggest debt writedown in history, providing much-needed breathing room for European nations living beyond their means.
Credit-rating agencies are taking a hard look at European Union countries and don't like what they see. Many of those nations won't enjoy a happy new year after their credit is downgraded. This will throw all of Europe into a financial tailspin.
Defying appeals from U.S. airlines and the Obama administration, the European Union's top court Wednesday cleared the way for a new pollution charge to be levied on all flights to the Continent, a move that could mean higher prices for trans-Atlantic fliers.
The Fitch ratings agency affirmed France's top Triple-A credit rating on Friday, but warned it could downgrade six other nations that also use the euro — Italy, Spain, Ireland, Belgium, Slovenia and Cyprus.
