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Moody’s cuts EU outlook

SYDNEY — The European Union’s rating outlook was cut to negative by Moody’s Investors Service, reflecting the risks to Germany, France, the UK and the Netherlands that account for about 45 per cent of the group’s budget 
revenue.

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Euro zone seen back in recession, Asia resilient

markets

Euro zone seen back in recession, Asia resilient

LONDON/SINGAPORE - The euro zone probably slipped back into recession in the current quarter, according to business surveys on Wednesday that also showed Asia¡¯s services sector growth remained muted in August as the global economy struggled to get its footing.

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markets

Copper edges lower

Copper lost ground for a second day on Wednesday as investors worried that the European Central Bank would fail to launch stimulus measures to revive a struggling economy and that top consumer China would take no big steps to boost slower growth.

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markets

EU clampdown on Libor-style indexes

The EU executive opened talks with the financial industry on Wednesday on how to impose curbs on financial market benchmarks and indexes, marking the start of a regulatory clampdown following rigging in London’s inter-bank lending market.

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