S&P cuts ratings on 15 banks, 20 other left unchanged

Note: This section contains information in English only.
Source: Marketwatch

On Tuesday Standard & Poor's Ratings Services downgraded ratings of 15 international banks. The downgrade takes place amid new rating methodology implementation. New system incorporates into banks' ratings the degree of government provision. So far, new criteria have affected 37 banks. Among firms that experienced immediate cut were four major US banks: Bank of America Corp., Citigroup Inc., Wells Fargo & Co. and J.P. Morgan Chase & Co.

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Wed, 30 Nov 2011 08:44:01 GMT

India's growth meets expectations

According to government report, India's GDP added 6.9% on yearly basis in the 3rd quarter. The GDP estimate matched that predicted Dow Jones Newswires economists' survey. Country's GDP growth has slowed down compared to 2nd quarter when it advanced 7.7%. Manufacturing output increased 2.7% compared to previous year whereas mining output dropped 2.9%.

Wed, 30 Nov 2011 08:42:21 GMT

Asia equities drop as uncertainty sneaks back into markets

On Wednesday Asian shares experienced modest decline as European Finance Ministers announced further meetings will be held in next month, returning uncertainty back to markets. China's Shanghai Composite index lost 2.3%, South Korea's Kospi traded down 0.7% while Hong Kong's Hang Seng Index declined 1.9%. Australian S&P/ASX 200 fell 0.1% and Japan's Nikkei Stock Average edged down 1.3%.

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