Sears to be downgraded by S&P

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Source: Reuters

On Wednesday Standard & Poor's decided to put retailer Sears Holdings Corp. for a probable downgrade. S&P agency insists that closing more than 100 stores is not very likely to improve Sears performance. Sears corporate credit rating affirmed by S&P currently is at B. Sears stocks plunged on Tuesday after retailer announced it will shut between 100 and 120 Sears and Kmart stores to reduce costs. 

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Thu, 29 Dec 2011 09:32:59 GMT

Gold falls on the higher USD appeal

Gold prices decreased as investors tend to increase the Dollar positions avoiding the yellow metal as they are worried about the spreading Euro Zone crisis. Gold futures for delivery in February traded at USD1,556.15 a troy ounce during the Asian morning traded, on the Comex division of the New York Mercantile Exchange, losing 0.51%.

Thu, 29 Dec 2011 08:57:39 GMT

China to continue increasing the Yuan flexibility

China will go on increasing its currency flexibility and boosting domestic demand, according to foreign ministry. Since last year, the exchange rate had become much more flexible, said Hong Lei. The country's foreign trade is more balanced with decreasing current account surplus to 3% of the GDP in the first nine months of 2011, he added.

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