International

• Wednesday, October 19th 2011 - 06:51 UTC

  Subtle warning from Moody’s to Paris on the French banking system

  

  In a carefully worded statement, Moody's Investor Service hinted that the outlook for France's top-tier credit rating could be at risk. The nation still enjoys “very high government financial strength,” said the ratings agency in its annual credit report on France, released late Monday.

• Wednesday, October 19th 2011 - 06:44 UTC

  Rousseff calls on rich countries for a ‘credible agreement’ to overcome EU crisis

  

  Leaders from India, Brazil and South Africa on Tuesday urged the world's rich countries to contain their financial crises and prevent the global economy from slipping into a double dip recession.

• Wednesday, October 19th 2011 - 06:22 UTC

  “Vulnerable to funding stress” Moody’s downgrades Spain’s sovereign rating

  

  Moody's Investors Service cut Spain's sovereign ratings by two notches, saying high levels of debt in the banking and corporate sectors leave the country vulnerable to funding stress.

• Tuesday, October 18th 2011 - 09:04 UTC

  Mujica tries “to sell” Uruguay in Hamburg; Tuesday with Chancellor Merkel

  

  Uruguayan president Jose Mujica tried to seduce German investors and business people during his first day visit to Germany which has been marked by the impact of the European crisis. On Tuesday he is scheduled to meet Chancellor Angela Merkel and President Christian Wulff.

• Tuesday, October 18th 2011 - 02:43 UTC

  Falling profits and Flight 447 tragedy trigger major reshuffle in Air France-KLM

  

  Air France-KLM Group recalled Jean- Cyril Spinetta, 68, as chief executive officer and ousted Pierre-Henri Gourgeon amid slumping earnings and questions regarding the role of pilots in a fatal crash.

• Monday, October 17th 2011 - 19:12 UTC

  What crisis? Luxury sector forecasted to expand 10% this year; Great China leads

  

  The luxury sector is set to post double-digit growth this year to 191 billion Euros driven by the appetite of the Great China consumers for top-quality goods, according to a study by Bain & Company released on Monday

• Monday, October 17th 2011 - 18:09 UTC

  International Oil and Gas expo in Buenos Aires with 300 exhibitors

  

  Argentina's 8th International Oil & Gas Expo, sponsored by the Argentine Institute of Petroleum and Gas is taking place this week in Buenos Aires.

• Monday, October 17th 2011 - 17:46 UTC

  Europe’ watchdog raps EU banks for lack of transparency and disclosure

  

  Not a single major European bank is providing enough transparency and detail on staff pay, and disclosure needs to improve, Europe's banking watchdog said on Monday.

• Monday, October 17th 2011 - 17:28 UTC

  Germany warns Greek bondholders will have to accept steeper ‘hair-cut’

  

  Germany lowered expectations of a breakthrough in the Euro zone's sovereign debt crisis next weekend, saying Sunday's EU summit will not produce a final solution, and kept up pressure on banks to accept bigger write-downs on Greek debt.

• Monday, October 17th 2011 - 06:45 UTC

  ECB president Trichet calls for deep changes in the EU treaty

  

  European Central Bank President Jean-Claude Trichet said the European Union's treaty should be changed to prevent one member state from destabilizing the rest of the bloc, and urged stronger governance of the Euro zone.