S&P – The European Union Times ⚡ Shocking Hidden News Reports ⚡

Saudi Arabia Nearing Massive Cash Deficits

EU Times — Thu, 10 Mar 2016 11:48:10 +0000

The moment is around the corner when Saudi Arabia will face a massive budget deficit, an American political scientist said. “Saudi Arabia is running large budget deficits of 15 to 20 percent of GDP, and is drawing down on its currency reserves,” American political science professor James D. Savage told Iran’s Tasnim news agency. He […]

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Australia's Qantas airline reports $2.6 billion loss

EU Times — Thu, 28 Aug 2014 12:27:30 +0000

Australia’s national carrier Qantas has posted an annual net loss of 2.6 billion dollars last year. The airliner on Thursday posted the full-year net loss of 2.64 billion US dollars in 2013-2014 in its worst performance. The figure is much worse than expectations as analysts initially predicted the company to report an underlying pre-tax loss […]

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S&P downgrades Russia's credit rating to step above junk status

EU Times — Sat, 26 Apr 2014 09:08:52 +0000

For the first time in five years Standard & Poor’s has cut Russia’s credit rating to ‘BBB-‘, just above junk status. It warns the tension in Ukraine and ‘significant’ capital outflow could mean another downgrade. Moscow says it is “politically motivated.” “In our view, the tense geopolitical situation between Russia and Ukraine could see additional […]

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'Manufactured' crisis cost US $24bn - S&P

EU Times — Thu, 17 Oct 2013 12:26:44 +0000

Standard & Poor’s says the shutdown in total cost the US economy $24 billion, or $1.5 billion per day, the rating agency said Wednesday. The agency also estimated the shutdown will pare fourth quarter GDP by 0.6 percent. Obama has signed legislation that will avoid a technical debt default, ending the 16-day partial shutdown of […]

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China to overtake US as world's No 1 consumer

EU Times — Fri, 16 Aug 2013 21:49:47 +0000

Even with the ongoing slowdown of China’s economic growth, the world’s No 2 economy is expected to overtake the US to become the world’s largest consumer market in the next five years, according to a new report by Standard & Poor’s (S&P). The report – entitled Financial Risks Are Rising as Retail and Consumer Product […]

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French unemployment rate at 16-year high

EU Times — Thu, 28 Mar 2013 19:43:03 +0000

The number of jobless people in France has climbed towards a record high in February for the 22nd month running, and has reached its highest level since 1997. Data released from the French Labor Ministry showed on Tuesday that the number of registered jobseekers in the eurozone’s second-largest economy rose by 18,400 from January to […]

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United States stock markets plunge after Obama reelection

EU Times — Thu, 08 Nov 2012 22:29:25 +0000

US stock markets opened drastically lower on Wednesday following the reelection of President Barack Obama over fears of the looming fiscal cliff. The US stock market indices fell on opening bell with the Dow Jones Industrial Average dropping 1.84 percent to 13,002.50, the S&P 500 tumbling 1.88 percent to 1,401.59, and NASDAQ plunging 1.93 percent […]

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Panasonic downgraded by S&P due to $10 billion losses

EU Times — Sat, 03 Nov 2012 18:06:10 +0000

Panasonic Corp., Japan’s second largest TV maker, saw its credit rating cut by two levels by Standard & Poor’s after it forecast a $9.5 bn loss 30 times bigger than analyst estimates. S&P said it has downgraded long-term debt to BBB, down from A-, as “huge losses for the second year in a row weaken […]

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Russia, China and US challenge rating agencies

EU Times — Tue, 30 Oct 2012 22:37:54 +0000

A new agency is about to appear in the rating business that will be created by the Russians, Chinese and Americans. The agency Universal Credit Rating Group that claims to be a global player, came into being in Beijing and is the joint brainchild of the Chinese rating agency Dagong Global, the American Egan-Jones, and […]

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S&P downgrades credit ratings for three French banks

EU Times — Thu, 25 Oct 2012 22:49:30 +0000

Standard & Poor’s (S&P) Ratings Services has downgraded the credit ratings for three French banks, including BNP Paribas, citing growing risks facing the banks from potential prolongation of the eurozone recession. “In our view, the economic risks, under which French banks operate, are increasing, leaving French banks moderately more exposed to the potential of a […]

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S&P downgrades Spain's credit rating from BBB+ to BBB-

EU Times — Wed, 10 Oct 2012 22:23:34 +0000

Rating agency Standard & Poor’s has downgraded Spain’s credit rating by two notches, warning that the deepening economic recession is limiting the government’s options. S&P warned that rising unemployment and harsh austerity measures are likely to intensify social unrest and cause further friction between Spain’s central and regional governments. “The downgrade reflects our view of […]

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S&P Downgrades EU Credit Ratings

EU Times — Fri, 13 Jan 2012 22:04:19 +0000

Standard & Poor’s has downgraded the credit ratings of France, Italy, and Spain, as the European debt crisis continues to intensify. According to French government sources, the ratings agency has downgraded the country’s Triple-A credit rating, while downgrading Italy and Spain’s ratings as well. Italy’s credit rating was cut by S&P by two notches to […]

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Italy Downgraded from A+ to A by S&P

EU Times — Fri, 23 Sep 2011 09:09:15 +0000

Standard & Poor’s drops credit rating to A from A+, blaming sluggish economy and ineffective government reforms. Italy has had its sovereign credit rating cut by Standard and Poor’s, with the ratings agency keeping the country’s outlook on negative in a surprise move that may add to contagion fears in the debt-stressed eurozone. Italian prime […]

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