The Obama administration talks of an Asian "pivot" and America's "Pacific century," but in terms of trade and investment, Europe remains hugely important for the United States.
Moody's Investors Service says its outlook for the U.S. banking industry remains negative, as low interest rates and tepid economic growth will continue to hurt banks' finances over the next 12 to 18 months.
One of the nation's top credit-rating agencies said Friday it will begin a wide-ranging review of municipal finances in California because of what it sees is a growing threat of increased city bankruptcies and bond defaults.
Many in this leafy, vibrant college town nicknamed "Happy Valley" worry the temporary evisceration of Penn State's football program might inflict similar damage on a community that, for years, thrived as fans flocked to home games at the massive football stadium and a far-flung alumni base stayed connected by loyalty _ and by checkbook.
Europe's latest efforts to quell its financial crisis left investors exasperated Monday, causing steep losses in stock markets on both sides of the Atlantic.
Moody's Investors Service has lowered the credit ratings on some of the world's biggest banks, including Bank of America, JPMorgan Chase and Goldman Sachs, reflecting concern over their exposure to the violent swings in global financial markets.
Moody's Investors Service has lowered the ratings of some of the world's largest banks, including Bank of America, JPMorgan Chase, Citigroup and Goldman Sachs.
The Motor City is skidding toward bankruptcy. Moody's Investors Services downgraded about $2.5 billion of Detroit's debt on Tuesday, acknowledging the harsh reality that this once-great metropolis has failed. The city is running out of cash, and its population has been shrinking. At the same time, its labor costs have skyrocketed and pension liabilities for public-sector employees have swelled. It's the same thing that happened to Greece.
Moody's Investors Service may lower the ratings of some of the world's largest banks, as well as those of some securities firms, because their long-term prospects for profitability and growth are shrinking.
