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...“We believe that the correction in housing prices in Europe is not over yet, but we have probably seen the worst of it,” said Sylvain Broyer, chief economist of EMEA at S&P Global Ratings....
...Larry Fink faces a proxy challenge to his dual role as chair and chief executive of BlackRock from a UK activist investor that wants more board oversight of the $10tn money manager’s approach to sustainable...
...Fifty-four of the 100 largest US public companies do it, said BlackRock in rejecting a challenge concerning Larry Fink’s dual chair and chief executive roles....
...Last month, Fitch relegated Panama’s sovereign bonds to junk territory, with the markets pricing in further downgrades from the rating agencies. S&P already holds a negative outlook on the country....
...Rating agency Fitch downgraded its outlook on China from “neutral” to “negative” last week, citing “property-reliant growth” as a source of increased uncertainty....
...macro environments; (2) the pre-existing “Watch Negative” status; and (3) the relative weight of the rating agencies (many investors view Fitch as a respectable but distant third to S&P and Moody’s)....
...I think this stems from fear and uncertainty,” BlackRock chief executive Larry Fink told analysts on Friday....
...Equally, the few who correctly predicted inflation’s rise, such as Larry Summers, were too pessimistic about how entrenched it was. Inflation is poorly understood, and devilish to forecast....
...Friday interview: Larry Summers Larry Summers — former Harvard president and Treasury secretary, and new OpenAI board member — is one of the most influential economists of our time....
...S&P’s move comes after Fitch raised the company to investment grade status in September. Moody’s lifted the company to the highest notch of junk territory in July....
...US markets had their steepest single-day drop in months on Wednesday after Fitch downgraded its assessment of the country’s debt, with the S&P 500 losing 1.4 per cent and the Nasdaq Composite closing 2.2...
...Credit rating agency S&P Global downgraded Ethiopia’s debt to default on December 15 after the initial deadline for payment was missed....
...Note that for the regression, we include only tickers with index-eligible debt (rated by S&P, Moody’s, or Fitch).1 Although it could be argued that aggregate size is also a factor in the issuers’ current...
...Another factor is S&P has just two offices, Moody’s one and Fitch none in Africa, which we believe contributes to the unfair coverage the continent receives....
...Credit ratings, by contrast, are up to 99 per cent correlated, meaning that one company will receive broadly the same view whether one consults Moody’s, S&P or Fitch....
...Peltz secured a board seat for his son-in-law, and then in October 2018 got Immelt’s successor John Flannery replaced by CEO Larry Culp....
...After S&P took away its triple A rating for the US, there was little long-term effect on markets....
...Larry Fink’s empire accounted for almost 10 per cent of MSCI’s overall revenues in 2023, according to the company’s latest 10-Q....
...Fitch signalled in May that a downgrade was possible and few analysts expected big market shifts as a result....
...Of the 447 universities with a credit rating from S&P Global Ratings, more than a third are rated triple B plus or below....
...And so if you want to invest in something that tracks the S&P 500 or the FTSE 100, you can buy a BlackRock fund that does that. And they have lots and lots of them....
...The action by Fitch came after S&P similarly downgraded the US to double A plus in 2011, following a debt ceiling showdown when Democrat Barack Obama was president....
...Fitch and S&P Global slashed First Republic’s credit rating, in the latest sign of how the failure of Silicon Valley Bank is rippling across the broader US banking sector....
...The S&P 500 closed down almost 1 per cent with roughly nine in every 10 stocks losing ground....
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