Moody's Cuts Belgium's Rating; Fitch Warns on France's
Moody's Investors Service downgraded Belgium two notches Friday, following a move earlier by Fitch Ratings to lower its outlook on France's triple-A rating.
Head of UK Armed Forces: Eurozone Crisis Could Pose Military Threat
The ongoing eurozone debt crisis is the single greatest threat to Britain's current state of national security, claimed the UK's Chief of the Defence Staff General Sir David Richards on Wednesday.
Insight: The day Europe lost patience with Britain
It was billed as a summit to save the euro. It may be remembered as the day Europe lost patience with Britain, as most of the continent threw its lot in with EU founding members France and Germany and committed to binding their economies ever more tightly.
Europe divided on Friday in a historic rift over building a closer fiscal union to preserve the euro, with a large majority of countries led by Germany and France agreeing to forge ahead with a separate treaty, leaving Britain isolated.
Ratings agency Moody's downgraded the debt of BNP Paribas (BNPP.PA), Societe Generale (SOGN.PA), and Credit Agricole (CAGR.PA) on Friday, citing deteriorating liquidity and funding conditions.
Kazakhstan on Thursday launched the first metro system built in Central Asia since the collapse of the Soviet Union, a $1.1 billion project in its earthquake-prone commercial capital Almaty.
S&P Rates Chinese Banks Higher Than U.S. Big Banks
Following a criteria revision, credit ratings firm Standard and Poor's has upgraded the ratings of several Chinese banks while a few top U.S. banks were downgraded.
International companies are preparing contingency plans for a possible break-up of the eurozone, according to interviews with dozens of multinational executives.
Sberbank, Russia's largest bank, signed a $3 billion deal with Kazakhstan Temir Zholy (KTZ) to finance projects and organise debt issuance for the Kazakh state railway firm, the companies said on Wednesday.