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  • *China: Moody's over-estimates risks, methodology inappropriate. *S&P rates China one notch higher, on negative watch. "The downgrade reflects Moody's expectation that China's financial strength will erode somewhat over the coming years, with economy-wide debt continuing to rise as potential growth slows," the rating agency said in a statement, changing its...

  • TOKYO, May 24- Chinese stocks fell and the Australian dollar skidded on Wednesday after Moody's downgraded its sovereign credit rating on China, adding to worries about the global impact of slowing growth and rising debt in Asia's economic powerhouse. Shares elsewhere in Asia also slipped, with MSCI's broadest index of Asia-Pacific shares outside Japan down...

  • The two court challenges have already emboldened some financial firms to push back against the CFPB and the SEC when they have accused them of wrongdoing and the outcome of the cases could provide ammunition to critics of both agencies. An outcome in either case could take months, and both could eventually land in the U.S. Supreme Court, especially the SEC's case...

  • BEIJING, May 24- China's finance ministry said on Wednesday that a credit downgrade by Moody's was based on inappropriate methodology, saying it was exaggerating difficulties facing the economy and underestimating reform efforts. Moody's Investors Service downgraded China's credit ratings by one notch earlier on Wednesday, saying it expects the...

  • WASHINGTON, May 24- The Financial Stability Oversight Council, which brings together all U.S. financial watchdogs, used to be the scourge of Wall Street but under Treasury Secretary Steven Mnuchin it can serve to ease its regulatory burdens. President Donald Trump has pledged to roll back legislation he believes stymies economic growth, but opposition in the...

  • MEXICO CITY/ NEW YORK, May 24- The newly refurbished Citibanamex branch in Mexico City's affluent Del Valle neighborhood opens into a Scandinavian-chic space where salespeople chat with clients at touch screens. The facelift reflects Citigroup Chief Executive Michael Corbat's ambition to turn the group's Mexican operation into a "state-of-the-art bank."

  • CHICAGO, May 24- Commodity trader Glencore Plc's confirmation on Tuesday that it sought a tie up with grains trader Bunge Ltd likely signals the start of a wave of consolidation and partnering in the industry, as middlemen struggle to make profits amid a massive global food glut. Bunge and other top grains traders-- who make money by buying, selling, storing,...

  • *OPEC, other producers to meet May 25 to decide output policy. SINGAPORE, May 24- Oil prices were stable on Wednesday, supported by confidence that an OPEC- led output cut aimed at tightening supply would be extended to all of 2017 and the first quarter of next year. "OPEC is meeting on 25 May with an extension of supply cuts at the top of its agenda.

  • *Spot gold seen testing support at $1,245 per ounce: technicals. Monday's close, CME Group's FedWatch program showed. "My expectations are that the pace of interest rate hikes will be kept steady and stable regardless of the short-term fluctuations in the U.S. economic data," said Mark To, head of research at Hong Kong's Wing Fung Financial Group.

  • *Rapeseed oil, soyoil pouring into China markets. KUALA LUMPUR, May 24- Palm oil demand from China, the world's No.2 importer of the commodity, is set to drop in coming months as supplies of alternative edible oils flood local markets, industry sources said. "The number of cargoes to China for June to August is very low... badly below normal, maybe less than 100,000 tonnes a...

  • SHANGHAI, May 24- China's yuan eased against the U.S. dollar on Wednesday on some corporate demand for the greenback, while traders shrugged off rating agency Moody's decision to cut its sovereign rating on China. Moody's Investors Service downgraded China's long-term local and foreign currency issuer ratings on Wednesday, citing expectations the...

  • *S&P rates China one notch higher, on negative watch. SHANGHAI/ BEIJING, May 24- Moody's Investors Service downgraded China's credit ratings on Wednesday, saying it expects the financial strength of the world's second-biggest economy will erode in coming years as growth slows and debt continues to rise. The ratings agency also changed its outlook for China to...

  • LUBEC, Maine— Maine's U.S. senators are on board with a plan to make it easier for seafood dealers to export sea urchins and sea cucumbers outside of the United States. Angus King say their proposal would prevent the U.S. Fish and Wildlife Service from burdening the industry with inspections that they say are repetitive. Democratic Congresswoman Chellie Pingree...

  • BEIJING— China is shutting down its only undersea coal mine as the government struggles to rein in rising production that threatens to frustrate a planned shift to cleaner-burning fuels. China is the world's largest coal consumer. Japan, Britain and Canada also have operated undersea coal mines, which can be more expensive than conventional mines.

  • SINGAPORE, May 24- Chicago soybean futures slid for a second session on Wednesday while corn edged up after closing lower the previous day, with easing concerns over planting delays in the U.S. grain belt adding pressure to grains markets. The Chicago Board Of Trade most-active soybean contract lost 0.4 percent to $9.44-1/ 2 a bushel by 0322 GMT, having closed down...

  • BEIJING— Chinese stocks sank Wednesday after Moody's cut the country's debt rating and other Asian markets rose following Wall Street's advance. CHINESE DEBT: Moody's Investors Service downgraded China's long-term local currency and foreign currency debt ratings, citing the country's rising debt. The change reflects an expectation " China's financial...

  • SHANGHAI, May 24- China stocks fell more than 1 percent before recouping some of the losses incurred on Wednesday morning in the wake of Moody's downgrading of China's debt ratings- aggravating a market already worried by tighter regulation, rising borrowing costs and signs of an economic slowdown. Moody's Investors Services downgraded China's long-term...

  • HONG KONG— Credit rating agency Moody's has cut its credit rating for China, citing slowing economic growth and rising debt that it says will erode the country's financial strength. Moody's said Wednesday that it is downgrading its long-term rating for China one notch to A1 from Aa3. Moody's said Beijing's economic reform program won't suffice to offset the...

  • *Bernanke: Japan's real equilibrium rate may be negative. TOKYO, May 24- Former Federal Reserve Chairman Ben Bernanke said on Wednesday the Bank of Japan may need to coordinate a new fiscal spending plan with the government, allowing for inflation to accelerate above its 2 percent target without worsening the debt burden. If inflation accelerated to 2 percent by...

  • *Aussie, China shares down after Moody's downgrade. TOKYO, May 24- China's main stock index fell one percent and the Australian dollar slipped on Wednesday after Moody's cut its sovereign credit rating on China. The Aussie fell as much as 0.3 percent to $0.7452 soon after the Moody's announcement downgrading China to A1 from Aa3.