Moody’s warns of ‘fiscal crisis’ in top-rated nations

Wednesday, December 09, 2009
LONDON: Ratings agency Moody’s warned on Tuesday of a “fiscal crisis” lasting “several years” in Britain, France, Germany and the United States, but saw no immediate threat to their top AAA credit assessments.

Moody’s said although the financial crisis was nearing an end, AAA-rated nations will struggle to find the money to reduce huge public debts. “The global macroeconomic and financial system crises may be close to an end, but the fiscal crisis in a number of AAA-rated countries will likely last for several years,” Moody’s Investors Service said in a key report.

Wall Street heads for final stretch

Sunday, December 06, 2009
NEW YORK: Wall Street heads into the final stretch of 2009 with fresh confidence that the worst of the economic crisis is over, setting up a positive environment for the market heading into 2010.

The main US stock indexes notched gains in the week to Friday, buoyed by data showing a sharp turnaround in the job market that offered hopes for a sustained recovery from recession.