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There's a lot on the agenda as Detroit's emergency financial manager tries to meet a deadline to decide whether the city and escape a bankruptcy filing.
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LONDON, May 17- The coveted investment grade rating has arrived in Turkey and foreign capital may follow- possibly a lot of it. An investment grade rating, which Moody's gave Turkey on Thursday, potentially opens Turkey to more conservative funds. "This could bring a whole new investor base to Turkey," says Tim Ash, head of emerging markets research at Standard Bank.
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There's a lot on the agenda as Detroit's emergency financial manager tries to meet a deadline to decide whether the city and escape a bankruptcy filing.
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DETROIT, May 19- Bond restructurings, negotiated settlements with bondholders and bond insurers, and tough talk with unionized workers are on the agenda as Detroit's emergency financial manager tries to meet a self-imposed, six-week deadline to decide whether the city can get through its financial crisis without a bankruptcy filing.
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LONDON, May 17- The coveted investment grade rating has arrived in Turkey and foreign capital may follow- possibly a lot of it. An investment grade rating, which Moody's gave Turkey on Thursday, potentially opens Turkey to more conservative funds. "This could bring a whole new investor base to Turkey," says Tim Ash, head of emerging markets research at Standard Bank.
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LONDON, May 17- The coveted investment grade rating has arrived in Turkey and foreign capital may follow- possibly a lot of it. An investment grade rating, which Moody's gave Turkey on Thursday, potentially opens Turkey to more conservative funds. "This could bring a whole new investor base to Turkey," says Tim Ash, head of emerging markets research at Standard Bank.
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LONDON, May 17- UK pension funds are dipping a toe into the specialist market for high yielding but risky bank loans in an effort to offset poor returns in their traditional investment portfolios.
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MUMBAI, May 17- Standard& Poor's reiterated its negative outlook on India's credit rating, which is one notch above "junk", warning of the need to follow through on reforms and dealing a blow to a government that had recently pitched for an upgrade.
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ISTANBUL, May 17- Turkey hailed its second investment grade rating on Friday, seeing it as a seal of approval from international markets for a decade of economic reform.
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ISTANBUL, May 17- Turkey hailed its second investment grade rating on Friday, seeing it as a seal of approval from international markets for a decade of economic reform.
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*Rating cut to AA, in line with Moody's, from AA-plus. May 16- Warren Buffett's Berkshire Hathaway Inc had its credit rating cut one notch by Standard& Poor's, which cited a new methodology for evaluating insurers and Berkshire's dependence on its insurance business for dividend income.
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MONTERREY, Mexico, May 16- Struggling with slowing home sales and a lack of liquidity, Mexico's top three homebuilders may have to seek bankruptcy protection if they fail to reach an agreement with creditors in the short term.
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Berkshire Hathaway owns 11 percent of the ratings agency. Will this keep it from getting downgraded by Moody's?
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May 16- A financial recovery plan released on Monday by a state-appointed emergency manager running Detroit has negative consequences for the city's bondholders, Moody's Investors Service said on Thursday.
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The vote to split roles for JPMorgan Chase Chairman and CEO Jamie Dimon on Tuesday could be driven by big index funds, as well as by Institutional Shareholder Services
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NEW YORK, May 16- U.S. companies are hiring more workers and home prices, stock markets and energy production are climbing. The Congressional Budget Office on Tuesday slashed its budget deficit forecast for the current fiscal year ending Sept. 30 to $642 billion, a massive $203 billion cut from its estimate in February.
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*Sees lower deficits and moderate growth next two years. WELLINGTON, May 16- New Zealand's government charted a more optimistic economic outlook on Thursday as it raised its forecast for budget surpluses on the back of moderate growth, and said it would start spending more on new policies.
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*Wells Fargo stake grows to nearly $17 billion. May 15- Warren Buffett's Berkshire Hathaway Inc on Wednesday revealed a new investment in Chicago Bridge& Iron Co and said it has added to its largest equity holding, Wells Fargo& Co..
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Big investors are reporting their quarterly holdings, offering a glimpse into what some of the big fish were buying and selling during the first quarter.
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*Lonmin says workers returning for night shift. MARIKANA, South Africa, May 15- Workers at Lonmin's South African platinum shafts were ending a walkout, the company said on Wednesday, easing fears that a two-day strike could ignite fresh labour violence in the continent's largest economy.
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MARIKANA, South Africa, May 15- The main union at Lonmin's South African platinum shafts told striking miners to return to work on Wednesday, potentially defusing a two-day wildcat action that had raised fears of a fresh wave of labour violence.