Britain Pares Its Stake in Lloyds Bank, But R.B.S. Remains a Tough Sell
The British government sold a 7.87 percent stake in the Lloyds Banking Group for about $6.9 billion. But it seems increasingly unlikely that the government will begin paring its stake in Royal Bank of...
View ArticleG.E. May Still Hold Upper Hand in Alstom Bid
The decision by Siemens to team up with Mitsubishi Heavy Industries in a potential bid for Alstom's power assets probably won’t be enough to overcome rival interest from General Electric, Olaf Storbeck...
View ArticleItalian Credit Rating Agency Cerved Down 5% in Debut
Cerved Information Solutions fell to 4.85 euros a share in its first day of trading after pricing its initial public offering last week at €5.10 a share.
View ArticlePuerto Rico’s Indebted Power Utility Adds to Island’s Problems
The utility is running out of time to negotiate a deal with its lenders, part of a broad reckoning for an island that relies on Wall Street to finance basic functions.
View ArticleS.E.C. Scrutinizes McGraw Hill Over Commercial Mortgage Securities
McGraw Hill said the S.E.C. had sent the company a Wells notice over commercial mortgage-backed securities that were rated by its S.&P.’s Ratings Services subsidiary.
View ArticleS.&P. Says Argentina Has Defaulted
After more than five hours of mediated talks between the government and the hedge funds on Wednesday, neither side appeared closer to a deal.
View Article2 Senators Introduce New Anti-Inversion Bill
Charles Schumer of New York and Richard Durbin of Illinois have introduced a bill that would ban companies that have reincorporated overseas from using several popular tax avoidance techniques.
View ArticleInvestors Are Eager for African Sovereign Debt, Despite Plenty of Risks
Sub-Saharan countries have raised nearly $7 billion this year, more than in all of 2013, and yields on many bonds have fallen, even with the Ebola outbreak.
View ArticleHearst to Buy Control of Fitch, the Credit Ratings Firm
The deal means that one of the big three ratings firms will be a majority-owned subsidiary of the privately held media giant.
View ArticleCredit Rating Agency DBRS to Be Sold to 2 Private Equity Firms
Walter Schroeder, the founder and controlling shareholder of DBRS, will retain a stake in the Toronto-based company.
View ArticleS.&P. Nears Settlement With Justice Dept. Over Inflated Ratings
On television and in the courtroom, the credit rating agency has waged war against a Justice Dept. lawsuit. But behind the scenes, it wants nothing more than to buy peace.
View ArticleStandard & Poor’s Is Near Costly Settlements With U.S.
The credit rating agency has struck two tentative deals, one with state regulators and the Securities and Exchange Commission, and one for $1.37 billion with the Justice Department and state attorneys...
View ArticleSettling Case, S.&P. Backs Off Claims of U.S. ‘Retaliation’
As part of a $1.37 billion settlement, S.&P. is expected to say it never found evidence of retaliation for cutting the credit rating of the United States.
View ArticleS.&P.’s $1.37 Billion Reckoning Over Crisis-Era Misdeeds
The rating agency signed a statement of facts that outlined its role in the mortgage crisis, but did not admit to wrongdoing.
View ArticleS.&P. Settlement Leaves Future Unclear for Ratings
In the wake of the financial crisis, when rating agencies were blamed for feeding a subprime mortgage frenzy, Congress used the Dodd-Frank Act to adopt a battery of changes for the rating industry.
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