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Showing posts with label DealBooK | DealB%K Afternoon Business.. Show all posts
Showing posts with label DealBooK | DealB%K Afternoon Business.. Show all posts

Jun 21, 2012

DealBooK | DealB%K Afternoon Business: Big Banks Brace for Credit Rating Downgrades

Thursday, June 21, 2012

Big Banks Brace for Credit Rating Downgrades Moody's Investors Service has begun notifying some big banks that their credit ratings may be cut as early as this afternoon.

The long-awaited announcement would end months of anticipation about the ratings cuts, after Moody's said in February that it would assess the credit of 17 global financial companies for potential downgrades.

Shares in the nation's biggest banks began falling more sharply in early afternoon trading on Thursday, as investors anticipated the potential downgrades.
    Novel Maneuvers in Battle for Quest Software The bidding war that has emerged for Quest Software highlights a board's quandary when the chief executive makes a play for the company: whose rights should triumph, those of the majority shareholder or all shareholders?
    Washington Law Firm Finds Niche in Sports and Entertainment Both Ann Curry, the co-host of the "Today" show, and Jeremy Lin, the New York Knicks point guard, have hired the Washington law firm Williams & Connolly this week to represent them in their respective contractual negotiations.
    Washington Mutual's Former Chief Takes Issue With Book's Portrayal Kerry K. Killinger, the bank's chief executive until his ouster in 2008, is taking issue with a new book about Washington Mutual.
    Cabot to Buy Norit for $1.1 Billion The Boston-based chemicals company agreed to buy Norit, a Dutch manufacturer of activated carbon that is used in chemical reactions, for $1.1 billion.
    • DEALBOOK »
      Commerce Secretary Resigns John E. Bryson resigned as President Obama's commerce secretary on Thursday, The New York Times reports, after having previously suffered a seizure and then being involved in back-to-back car accidents.
      Pearl Jam's Former Finance Chief Charged With Theft The former chief financial officer of Pearl Jam's management company was charged with 33 counts of theft on Thursday, and is accused of stealing nearly $400,000 from the rock band.
      No economic indicators are scheduled to be released on Friday, but new home sales are set to be announced on Monday.

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