WASHINGTON — The Securities and Exchange Commission is considering taking civil action against Standard & Poor’s for its rating of a 2007 mortgage debt offering. Such action could be just the first shot in a legal assault against the major credit rating agencies. The three major agencies – S&P, Moody’s Investors Service and Fitch Ratings [...]
WASHINGTON (Lesley Wroughton) – The United States is courting calamity with the continuing stalemate in Congress over raising the country’s debt limit, the World Bank’s chief said on Friday. “Whatever the logic about the tactics, it’s a very dangerous environment,” Robert Zoellick told a meeting of the Society for International Development, adding that people were [...]
NEW YORK (Lucia Mutikani) – New claims for unemployment benefits fell more than expected last week, dropping below the key 400,000 level for the first time since early April, according to a government report on Thursday that pointed to some labor market improvement. Initial claims for state unemployment benefits dropped 24,000 to a seasonally adjusted [...]
NEW YORK (Leah Schnurr) – Single-family home prices were unchanged in May, the first time in nearly a year they have not fallen on a monthly basis, though prices were still down compared to a year earlier, a closely watched survey said on Tuesday. The S&P/Case Shiller composite index of home prices in 20 metropolitan [...]
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