AP - The Securities and Exchange Commission on Wednesday delayed a plan to adopt new rules aimed at stemming conflicts of interest in Wall Street's credit rating industry.
Read more »Best upcoming scoops
- StemCells, Inc. Closes $20 Million Equity Financing (Business Wire)
- Advanced ID Announces $3 Million Funding Agreement with La Jolla Cove Investors (Business Wire)
- HP sees stronger-than-expected 2009, shares up (Reuters)
- Citigroup falls on concern job cuts won't fix bank (Reuters)
- InterAct911 Completes $28 Million Growth Equity Financing (Business Wire)
Current Financial News
SEC puts off vote on rules for rating agencies (AP)
Global stocks hit 5-1/2 year lows (Reuters)
Reuters - A rout in Asia pushed world stocks to their lowest in 5- years on Thursday, while oil fell to below $53 a barrel and safe havens such as the yen gained as economic data indicated a global recession could get even uglier.
Read more »Yahoo, T-Mobile announce mobile search deal (Reuters)
Reuters - Yahoo Inc announced an expansion of its mobile Web portals to T-mobile, so its smart phone users who get data will have Yahoo search by default.
Read more »U.S. auto execs testify as legislators try for deal (Reuters)
Reuters - U.S. auto executives went to Capitol Hill on Wednesday for a second day to plead for $25 billion in government aid, but legislators tried to fashion a last-minute compromise bailout bill that could pass both Congressional and White House muster.
Read more »Wall Street sinks to lowest since 2003 (Reuters)
Reuters - Stocks plunged to their lowest in five-and-a-half years on Wednesday as investors girded for a lengthy economic downturn and automotive executives predicted a far-reaching calamity without a government lifeline.
Read more »Moody’s Cuts Ratings for United Site Services
Moody’s Investors Service has cut the corporate family rating of United Site Services Inc. to B1 from Ba3, downgraded its first lien revolving credit facility to B1 from Ba3 and downgraded its second lien term loan to Caa1 from B3. USS is a Westborough, Mass.-based renter of on-site event services like portable restrooms, temporary fencing. It has been owned by DLJ Merchant Banking Partners since 2006.
PRESS RELEASE
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Moody’s Downgrades Sabre Holdings Outlook
Moody’s Investors Service has cut the rating outlook for Sabre Holdings Corp. from stable to negative. Sabre is a Southlake, Texas-based online travel reservations company taken private last year by Silver Lake Partners and TPG Capital for approximately $5 billion.
PRESS RELEASE
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Will Berkshire Lose Its Triple-A?
On the face of it, recent activity in Berkshire Hathaway (BRK.A) makes little sense. Credit default swaps on the triple-A company were trading at 388bp yesterday, and are somewhere over 450bp today, possibly having risen as far as 560bp this morning. As Bloomberg says,
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Local National News Outfit Finds Green Green In Failed Fund
The difficult part of this entry is the admission that we actually visited CNN Money, but we can't help but pass on the lunacy that is an article that find silver lining in a failed $11 billion hedge fund because it invested $32 million in wind power.
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Someone's Having A Holiday Party This Year!
And it's Citi, tonight. Kidding, though how deliciously rich would that be? Prettay, prettay, prettay rich. Anyway, no, it's Piper Jaffray, and it's not even in New York, but out in Minneapolis (PJ HQs). Revolution Rock Bar, December 18th, 4:30. Don't even act like you're not going to try and make it.
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