(Updates with specific bank downgrades) Moody's Investors Service downgraded 16 Spanish banks and Santander UK PLC, a U.K.-domiciled subsidiary of Banco Santander SA (STD, SAN.MC), the latest blow for a country already facing economic recession, surging unemployment and a five-year property bust. Moody's said the downgrades--which range from one to three notches--primarily reflect the concurrent downgrades of most of these banks' standalone credit assessments.
As the humid summer heat descends on Hong Kong and Tokyo, traders in these financial capitals are turning to the mountainside getaways of Japan’s Hokkaido island, not just as a vacation spot, but also as a curious play on the Japanese yen.
Crude-oil futures have lost nearly 12% so far this month, putting a dent in the confidence of even the most bullish of investors and analysts, but there are still some potential price-lifting factors for oil lurking in the backdrop.
Social network giant pulls trigger on long-awaited IPO, pricing its shares at $38 in a $16 billion deal — the largest debut ever for a technology firm.
You’d have to live under a rock to have avoided all of the hype surrounding the social-networking giant, but believe it or not, there are other recently made public companies who may be more deserving of your investing dollar.
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