Stories for January 25th 2012

Wednesday, January 25th 2012 - 04:21 UTC
S&P likely to downgrade Greece’s rating to “selective default”

Standard & Poor's will likely downgrade Greece's ratings to “selective default” when the country concludes its debt restructuring, but that will not necessarily destroy the credibility of the European Union, an official with the ratings agency said on Tuesday.
Wednesday, January 25th 2012 - 04:06 UTC
IMF warns Euro zone crisis is dragging down the world economy

The Euro zone debt crisis is escalating and dragging down the world economy, the International Monetary Fund said on Tuesday, as it sharply cut its outlook for global growth and called for policies to restore confidence.
Wednesday, January 25th 2012 - 03:58 UTC
Brazil record foreign direct investment more than compensates current account deficit

Brazil posted a record-high current account deficit in 2011 on rising profit remittances by multinational companies and massive spending abroad by Brazilian tourists, but the deficit was more than covered by another record, this time for foreign direct investment, the central bank said Tuesday.
Wednesday, January 25th 2012 - 03:52 UTC
Lula da Silva back on the political stage next to President Dilma Rousseff

Former Brazilian president Lula da Silva currently undergoing treatment for larynx cancer, returned on Tuesday to the political stage after three months of absence, for the inauguration ceremony of two new ministers from the cabinet of President Dilma Rousseff

S&P likely to downgrade Greece’s rating to “selective default”