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Moody's Corp

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  • Moody's fears Atlantic City default after state report Thursday, 26 Mar 2015 | 12:34 PM ET

    ATLANTIC CITY, N.J.— Wall Street is less than thrilled about what it has heard from emergency managers appointed by New Jersey Gov. Chris Christie to help turn around Atlantic City's finances. State Senate President Steve Sweeney says the report is making things worse by spooking Wall Street.

  • DUBAI, March 26- Economies and markets in the wealthy Gulf oil exporters barely blinked when Islamist militants overran parts of neighbouring Iraq last year, and they look likely to ride out escalating conflict in Yemen with similar ease. Air strikes against Houthi forces in Yemen by Saudi Arabia on Thursday raised the prospect of a proxy war, with Shi'ite Iran...

  • Genworth Financial: Still offers new policies. Carries top credit rating from Moody's Investors Service. MetLife Insurance: Once one of the larger players in the business, but it began pulling out four years ago.

  • Earnings for life insurers slid 11 percent in the most recent quarter, according to Moody's Investors Service, and long-term care was the chief culprit. Four of the five largest providers— including Manulife and MetLife— have either scaled back their business or stopped selling new policies, according to Moody's. The largest provider, Genworth Financial,...

  • NEW YORK, March 22- Government bond issuers are adopting new standards intended to thwart a strategy that's plagued Argentina for 13 years, in which buyers snap up distressed debt for pennies on the dollar and then hold out for full payment after other investors have agreed to restructure. Driving the move to change is the situation in Argentina, lawyers and...

  • NEW YORK, March 20- The bill is growing for New Jersey's attempt to revive Atlantic City, its financially distressed gambling hub. The information sheds further light on how much New Jersey taxpayers will shell out for Governor Chris Christie's decision to appoint an emergency manager for the resort city, a move that was opposed by many including Atlantic...

  • ACCRA, March 20- Ghana has taken steps needed to address revenue shortfalls and consolidate debt, both critical measures in addressing the West African country's fiscal challenges, Finance Minister Seth Terkper said on Friday. In reaction to Moody's Ghana downgrade on Thursday, Terkper said the economy has strong medium term prospects and the government...

  • ACCRA, March 20- Ghana will seek a bridge finance of between $300 million and $1 billion in the first half of this year to redeem maturing domestic debt, according to a memo to parliament signed by Finance Minister Seth Terkper and seen by Reuters on Friday. The government has started talks with a consortium including Bank of America Merrill Lynch as...

  • ACCRA, March 20- Moody's Investors Service downgraded Ghana's sovereign rating and put the country on a negative outlook to reflect an increasing debt burden, large fiscal imbalances and a sharp weakening of the cedi currency. The downgrade from by one notch to B3 from B2 comes despite an agreement with the International Monetary Fund in February for a...

  • PROVIDENCE, R.I.— The Rhode Island House of Representatives unanimously approved a bill Thursday that would allow Twin River Casino in Lincoln to build a hotel on its premises, a move that officials and lawmakers say is necessary as an impending "casino arms race" heats up in the Northeast. But with competition from neighboring Massachusetts— which plans to open...

  • New England states face off in a race for casino dollars Saturday, 14 Mar 2015 | 12:46 PM ET

    From Connecticut to Maine, lawmakers worried about losing jobs and revenue are proposing expansion of the gambling industry in the increasingly casino-crowded Northeast. "It could get nasty in New England," says Keith Foley, a senior vice president at Moody's Investors Service in New York. "Massachusetts has declared economic war on us," said Connecticut Senate...

  • CHICAGO, March 13- Chicago Mayor Rahm Emanuel on Friday called for phasing in higher, state-mandated payments to city pension funds to avoid a shock to the city's budget and a big property tax hike. Under an Illinois law, Chicago's contributions to its police and fire pension funds will increase by about $550 million next year. Another state law allowing...

  • CHICAGO, March 13- Chicago Mayor Rahm Emanuel's challenger in next month's runoff election offered a plan on Friday to address the city's financial woes that seeks cost-savings through intergovernmental collaboration and creates a committee to examine revenue options. But the plan by Cook County Commissioner Jesus "Chuy" Garcia, who received the most votes...

  • *Credit Suisse surges after naming new CEO. LONDON, March 10- European shares slipped further on Tuesday from a seven-year high after sharply weaker oil and metals prices pulled down commodities stocks, although Credit Suisse rallied after naming a new chief executive. "Credit Suisse has had different issues throughout the years and someone with a diverse...

  • *Credit Suisse surges after naming new CEO. LONDON, March 10- European shares slipped further away from a recent seven-year high on Tuesday as a sharp decline in crude oil and metals prices hit commodities stocks, although a rally in Credit Suisse capped market losses. "Credit Suisse has had different issues throughout the years and someone with a diverse...

  • *Credit Suisse names Prudential's Tidjane Thiam as new CEO. *Credit Suisse shares rally 7.5 pct. ZURICH/ LONDON/ HONG KONG, March 10- Credit Suisse has swooped on Prudential boss Tidjane Thiam to replace chief executive Brady Dougan- seen to have failed in reforming the Swiss bank fast enough- in order to push into wealth management of a growing multi-millionaires...

  • *Credit Suisse surges after naming new CEO. LONDON, March 10- European shares slipped further away from a recent seven-year high on Tuesday as weaker oil and metals prices hit commodities stocks, but a rally in Credit Suisse limited market losses. "Credit Suisse has had different issues throughout the years and someone with a diverse background could look at its...

  • *Credit Suisse names Prudential's Tidjane Thiam as new CEO. *Credit Suisse shares open 8.8 pct higher after news. ZURICH/ LONDON/ HONG KONG, March 10- Credit Suisse is bringing in Tidjane Thiam, the head of British insurer Prudential, as its new chief executive to help drive the Swiss bank's push into wealth management in emerging markets.

  • ZURICH/ HONG KONG, March 10- Credit Suisse said it had hired Prudential head Tidjane Thiam as the first African to lead a global investment bank, with the job of reviving a company reeling from U.S. penalties and under increasing regulatory scrutiny. Credit Suisse Chairman Urs Rohner said long-standing boss Brady Dougan was stepping down as chief executive of...

  • ZURICH/ HONG KONG, March 10- Long-standing Credit Suisse boss Brady Dougan is set to quit as chief executive of the Swiss bank as soon as Tuesday and will be replaced by Prudential head Tidjane Thiam, people familiar with the moves told Reuters. Thiam, a former Ivory Coast government minister who has led Prudential since 2007, will become one of the few top...