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McGraw Hill Financial

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  • Feb 12- McGraw Hill Financial Inc, parent of Standard& Poor's ratings agency, reported a quarterly loss, hurt by a $1.5 billion charge related to legal and regulatory settlements. Loss from continuing operations was $1 billion, or $3.71 per share, for the fourth quarter ended Dec. 31, compared with an income of $165 million, or 60 cents per share, a year earlier.

  • Wall Street shrugs off Greece fears, eyes retail sales Thursday, 12 Feb 2015 | 5:56 AM ET
    Traders work on the floor of the New York Stock Exchange.

    U.S. stock index futures signaled a higher open on Thursday, following gains in Europe on the back of strong bank earnings.

  • Ex-S&P exec urges U.S. judge to block SEC case Wednesday, 11 Feb 2015 | 2:27 PM ET

    A lawyer for Barbara Duka, who helped oversee S&P's ratings of commercial mortgage-backed securities, told a Manhattan federal judge that Duka would suffer irreparable harm to her career and would face fines if the SEC pursues in-house administrative proceedings against her. The SEC has increasingly been challenged in federal court over its use of...

  • Feb 6- Credit rating agency Moody's Corp reported a better-than-expected quarterly profit, driven by strong growth in its analytics business and higher debt issuance in the United States. High grade corporate debt offerings in the United States totaled $1.1 trillion in 2014, an increase of 9 percent compared with a year earlier, according to Thomson Reuters...

  • Tuesday's midday movers: Target, Lear, NYT & more Tuesday, 3 Feb 2015 | 1:01 PM ET

    Take a look at some of Tuesday's midday movers:

  • Feb 3- Ratings firm Standard& Poor's will pay $1.5 billion to resolve a series of lawsuits over its ratings on mortgage securities that soured in the runup to the 2008 financial crisis, the company said on Tuesday. S&P parent McGraw Hill Financial Inc said it will pay $687.5 million to the U.S. Department of Justice, and $687.5 million to 19 states and the District of...

  • Feb 3- McGraw Hill Financial Inc and its Standard& Poor Ratings Services unit have reached a $1.38 billion settlement with the U.S. government and several states over ratings of mortgage-backed securities that went sour in the runup to the 2008 financial crisis. McGraw Hill said it would pay $687.5 million to the U.S. Department of Justice and $687.5 million to...

  • S&P, Calpers settle $125M mortgage suit: Report Tuesday, 3 Feb 2015 | 5:43 AM ET
    California Public Employees’ Retirement System headquarters is shown in Sacramento, Calif.

    Standard & Poor's reached a deal with California's public pension system to resolve a case involving inflated grades of residential mortgage deals.

  • Feb 2- Standard& Poor's has reached a $125 million settlement with California's public pension system, Calpers, to resolve a case involving inflated grades of residential mortgage deals that later faltered, the Wall Street Journal reported, citing people familiar with the situation. Separately, S&P on Tuesday is expected to announce a settlement of more than...

  • The storm has led to the postponement of at least two conferences and quarterly results of several companies, including EMC Corp. The New York Stock Exchange, Intercontinental Exchange Inc, Nasdaq OMX Group Inc and BATS Global Markets were open on Monday and expect to be open on Tuesday. JPMorgan Chase& Co Closed New York. New York and as Ocean City, New Jersey and...

  • An SEC official said he expected more enforcement activity in the future. In Wednesday's settlement, the SEC said S&P agreed to pay $58 million to settle three matters with the agency plus $19 million to settle parallel cases with the attorneys general of New York and Massachusetts. Unlike the Justice Department case, the charges brought by the SEC involve...

  • The lawsuit, filed in federal court in Manhattan, comes three months after McGraw Hill took a $60 million charge and said it was in talks to resolve an SEC probe into its ratings for six commercial mortgage-backed securities transactions issued in 2011.. Duka, who left S&P in 2012, said she received a "Wells notice" in November indicating she might face an SEC...

  • WASHINGTON/ NEW YORK, Jan 13- Standard and Poor's is expected to pay just over $1 billion to settle lawsuits from the U.S. government and several states that had accused the McGraw Hill Financial Inc unit of inflating credit ratings on toxic assets before the 2008 financial crisis, according to a person familiar with the matter. The Justice Department case, filed...

  • S&P, Justice Dept. near settlement in ratings case Tuesday, 13 Jan 2015 | 9:40 AM ET
    U.S. Associate Attorney General Stuart Delery speaking last month.

    S&P is close to reaching a settlement with the U.S. Justice Department in its inflated ratings case, The New York Times reports.

  • Early movers: SNE, QCOM, TSLA, GPRO & more Friday, 26 Dec 2014 | 7:55 AM ET
    Traders on the floor of the New York Stock Exchange.

    Some of the names on the move ahead of the open.

  • S&P deal on mortgage bond ratings near: Report Friday, 26 Dec 2014 | 6:52 AM ET

    Standard & Poor's Ratings Services is nearing a settlement with regulators over how the company graded real-estate bonds.

  • S&P nears settlement on real-estate bond ratings - WSJ Thursday, 25 Dec 2014 | 10:34 PM ET

    Dec 25- Standard& Poor's Ratings Services is nearing a settlement with regulators over their investigation of how the company graded real-estate bonds, the Wall Street Journal reported, citing people familiar with the matter. The proposed deal, which could be reached as early as next month, is a joint settlement with the Securities and Exchange Commission, New...

  • Dec 22- Carlyle Group LP and Warburg Pincus LLC said they would buy DBRS Ltd, the world's fourth-largest credit rating agency, in partnership with a consortium of Canadian investors including the firm's founder. DBRS has a 2 percent share of the ratings market dominated by McGraw Hill Financial Inc- owned Standard& Poor's Financial Services LLC, Moody's Corp and...

  • Dec 12- Hearst Corp said it will raise its stake in global credit rating agency Fitch Group to 80 percent from 50 percent in a deal valued at about $2 billion as the media giant diversifies away from its newspaper foundations. Paris- based Fimalac, which is selling the stake to Hearst, will retain a 20 percent interest in Fitch, the third-biggest rating agency behind...

  • SEC pushing partial S&P rating suspension: Report Monday, 8 Dec 2014 | 4:37 PM ET
    Standard & Poor's headquarters in the financial district of New York.

    The Securities and Exchange Commission is pushing to suspend Standard & Poor's from rating commercial mortgage bonds, according to a report.