Sunday, 10 June 2012 10:56
Banks, bond issuers and investors are bracing for aftershocks from a wave of bank downgrades expected to hit the U.S. as soon as the coming week. Moody's Investors Service has said it is likely to reduce by the end of June credit ratings for 17 large global banks, including five of the six biggest U.S. financial firms by assets. The downgrades are expected to raise borrowing costs and crimp some lucrative trading businesses at the banks, including at J.P. Morgan Chase, Bank of America, Citigroup, Goldman Sachs and Morgan Stanley
Sunday, 10 June 2012 10:20
The head of Iran's cyber police says the perpetrators behind the recent cyber attack on the Iranian Oil Ministry have been traced to the US. Kamal Hadianfar told reporters on Saturday that two suspicious American IP addresses were identified in the cyber attack. He said that the issue has been pursued by the Iranian Foreign Ministry and Interpol, adding that the US needs to disclose the identity of the hackers to Iran.
Read more: Cyber attack on Iran Oil Ministry traced to US: Official
Sunday, 10 June 2012 10:12
The move was announced by the Spanish economy minister Luis de Guindos at a hastily convened press conference in Madrid. Mr de Guindos did not put a price on the bailout but said it would be ‘significantly’ more than the £32 billion suggested earlier by the International Monetary Fund. Sources close to the talks suggested up to £80billion or $125billion is likely to be offered.
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