The U.S. Securities and Exchange Commission has fined six major credit rating organizations a total of $49 million for significant failures to maintain and preserve electronic communications. Admitting the facts in their respective SEC orders, Moodys Investor Service Inc. and S&P Global Ratings agreed to pay a $20 million civil penalty each. Further, Fitch Ratings...
European stocks traded lower on Wednesday as investors fretted about weakening U.S. and Chinese growth. Economic activity in the U.S. manufacturing sector contracted in August for the fifth consecutive month and the 21st time in the last 22 months, raising concerns the worlds largest economy is headed for recession. Elsewhere, a private survey revealed that...
The euro area private sector expanded at the fastest pace in three months in August underpinned by strong upturn in services activity, final survey results from S&P Global showed on Wednesday. The HCOB composite output index posted 51.0 in August compared to 50.2 in July. The final reading was slightly below the initial estimate of...
Indian shares followed global peers lower on Wednesday, though falling oil prices on demand concerns helped limit overall losses. Markets opened deep in the red as worries about slowing U.S. and Chinese growth dented investors appetite for risk globally. Economic activity in the U.S. manufacturing sector contracted in August for the fifth consecutive month and...
German stocks were little changed in cautious trade on Tuesday as populist wins in state election injected fresh uncertainty. Chancellor Olaf Scholz called the results of two regional elections that saw big wins for the far-right Alternative for Germany (AfD) and losses for his coalition bitter and urged mainstream parties to form governments without right-wing...
U.K. stocks were subdued on Tuesday as miners fell, tracking weak metal prices on the back of a firmer dollar and amid concerns about slowing Chinese growth. The benchmark FTSE 100 was marginally lower at 8,356 after falling 0.2 percent the previous day. Miners Anglo American, Antofagasta and Glencore were down 1-2 percent. Wizz Air...
European stocks closed notably lower on Tuesday amid renewed concerns about the outlook for global economic growth and uncertainty about the pace of interest rate cuts by the Federal Reserve following recent mixed economic data. Investors digested some regional economic data and a report on U.S. manufacturing activity, and awaited comments from European Central Bank...
The Switzerland stock market ended notably lower on Tuesday, in line with markets across Europe, as worries about growth and uncertainty about the likely pace of Fed interest rate cuts weighed on sentiment. Investors also digested the latest batch of Swiss economic data. The benchmark SMI, which dropped to a low of 12,293.90, ended down...
The Canadian market ended sharply lower on Tuesday, weighed down by losses in energy, materials and technology sectors. Weak commodity prices, and concerns about global economic growth and uncertainty about the pace of U.S. interest rate cuts rendered the mood bearish. The benchmark S&P/TSX Composite Index, which fell to a low of 22,976.55, losing nearly...
The Japanese stock market is trading sharply lower on Wednesday, adding to the slight losses in the previous session, following the broadly negative cues from Wall Street overnight. The Nikkei 225 is falling more than 3 percent to below the 37,500 level, with weakness across all sectors led by index heavyweights and technology stocks. The...