Daily Archives: July 31, 2013
PHOENIX (Reuters) – Transit officials warned thousands of Phoenix area commuters to make alternative rush-hour travel plans because of a bus strike that will start on Thursday after contract talks between union drivers and management collapsed.
Egypt: Egypt’s Bank of Alexandria’s local-currency deposit rating for one notch has been downgraded by Moody’s Investors Service downgraded to B3 from B2, with ‘negative’ outlook, Ahram has reported. The action follows the lowering of the standalone baseline credit assessment of Intesa Sanpaolo (Intesa), Bank of Alexandria’s parent bank with a 70.25 percent stake, to Baa3 from Baa2, which in Moody’s view reduces Intesa’s capacity and potentially its willingness to support the Egyptian bank. Moody’s cited the “stressed operating environment'” in Egypt, which it has rated Caa1, with a negative outlook, as a reason to expect the weakening of Bank of Alexandria’s asset quality and profitability, and subsequently Intesa’s incentive to support it in the future. [AMEInfo.com]
NEW YORK (Reuters) – In a New York City mayoral race marked by scandal and the clear absence of a front runner, wealthy tech entrepreneur Jack Hidary sees an opening for another candidate – one with a sweeping vision for the city’s future.
The increase in an index of manufacturing activity indicates that recent economic support measures in Beijing may be having some effect on demand.
BEIJING (Reuters) – China’s factory activity shrank for a third straight month in July to its lowest level in nearly a year as new orders fell, a private survey showed on Thursday, signaling the persistent pressure on the economy has extended into the third quarter.
Tenet and Health Management Associates allegedly paid kickbacks and defrauded Medicaid.
CLEVELAND (Reuters) – The three women who endured years of isolation, sexual assaults, beatings and starvation as prisoners of a Cleveland school bus driver documented their ordeal in diaries kept during their captivity in his house, prosecutors revealed on Wednesday.
The NZD/AUD continues to soar, and today has made fresh 5-year highs above 0.8900. We thought it might be worthwhile cross-checking the recent gains against what short-term ‘’fundamentals’’ ar saying.
Standard and Poor’s has been giving higher ratings than its big rivals to certain mortgage-backed securities, according to an analysis conducted for The Times.
NEW YORK (Reuters) – Some of Dell Inc’s largest investors who have abstained from voting on a $24.4 billion bid led by founder Michael Dell to take the No. 3 PC-maker private told the company’s board this week that they would back the deal at the buyout group’s latest offer price, three sources close to the matter said.
Employees hope that one-day strikes at fast-food restaurants will draw attention to their demand for higher wages.
Comcast surpassed analysts’ earnings projections while CBS Corporation reported its highest quarterly profits ever.
President Obama has nominated Sarah Bloom Raskin to be deputy Treasury secretary; if confirmed by the Senate, she would be the highest-ranking woman to serve in that department.