NEW YORK— Fitch Ratings Service downgraded Alcoa's credit rating to "junk" status on Friday, saying it thinks the company's leverage will stay high and aluminum prices and profitability will remain low. High levels of aluminum supplies have hurt Alcoa's prices, and the company has repeatedly cut its smelting capacity in response.» Read More
Not many things have emerged from the quagmire of US Congress recently which have produced a truly pleasant surprise. But could the troubled asset relief programme - better known as Tarp - turn out to be one?
Why is Spain paying higher interest rates on its government debt than the UK? The answer to this question is illuminating: membership of a currency union makes a country fiscally fragile, writes Martin Wolf in the FT.
The government now borrows about 42 cents of every dollar it spends. Imagine that one day soon, the borrowing slams up against the current debt limit ceiling of $14.3 trillion and Congress fails to raise it.
The U.S. is headed towards the next major budget battle between the Republicans and Democrats. On May 16th lawmakers will have to vote to raise the $14.3 trillion debt ceiling or risk a default by the world's largest economy.
We're all used to hearing about how municipal bonds almost never, ever default.
William Gross, PIMCO co-CIO & founder, with perspective on S&P's negative outlook on U.S. credit and what the downgrade means for the markets.
Standard & Poor's lowered its outlook on the United States, kiwis fell, and Finland is frightening euro traders. Time for your Monday morning FX Fix.
Here’s my nomination for the worst recommendation by the Senate panel on the financial crisis: the proposal for the Securities and Exchange Commission to rate credit ratings agencies based on their “accuracy.”
And no, it's not Goldman Sachs. But he thinks these stocks are a buy.
"The outlandish scenario of a US debt downgrade is no longer the stuff of finance fiction," says the head researcher at at SocGen.
Consumer watchdog Elizabeth Warren takes questions from the audience at The U.S. Chamber of Commerce 5th Annual Capital Markets Summit on Ensuring Competitiveness in a Post-Regulatory Reform Environment.