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Moody’s downgrades China, warns of fading financial strength as debt mounts – Reuters

SHANGHAI/BEIJING Moody’s Investors Service downgraded China’s credit ratings on Wednesday for the first time in nearly 30 years, saying it expects the financial strength of the economy will erode in coming years as growth slows and debt continues to rise. The one-notch downgrade in long-term local and foreign currency issuer ratings, to A1 from Aa3, […]

Trump Budget Gambles on Having This Equation Right – Bloomberg

U.S. President Donald Trump’s newly proposed budget provides an occasion to consider some basic macroeconomics of budgeting — namely whether “g,” the growth rate of the economy, is likely to exceed “r,” in this case, the government’s borrowing rate. Viewed through this lens, it turns out the budget released Tuesday has a potential upside, but […]

Hedge Fund Basks in World-Beating Surge for Greece’s Markets – Bloomberg

Hedge Fund Basks in World-Beating Surge for Greece’s Markets – Bloomberg

The odyssey of Greece and its economic crisis has taken a positive turn in recent months, and hedge funds are among those reaping the rewards. Once the epicenter for the euro region’s debt turmoil, Greece is now the top beneficiary of improved sentiment on Europe. The nation’s stock market has a 23 percent return so […]

Ford names Hackett as CEO to tackle car rivals, Silicon Valley – Reuters

WASHINGTON/DEARBORN, Mich. Ford Motor Co (F.N) abruptly named James Hackett as chief executive on Monday, responding to investors’ growing unease about the U.S. automaker’s slumping stock price and its ability to counter threats from longtime rivals and Silicon Valley. Ford Chairman Bill Ford Jr., whose family effectively controls the U.S. No. 2 automaker, said he […]

Ford Motor Is Replacing Mark Fields as CEO – New York Times

Ford Motor Is Replacing Mark Fields as CEO – New York Times

Hong Kong’s Cathay lays off 600 as it faces rising pressure – San Francisco Chronicle

Hong Kong’s Cathay lays off 600 as it faces rising pressure – San Francisco Chronicle

Hong Kong’s Cathay lays off 600 as it faces rising pressure Kelvin Chan, Ap Business Writer May 21, 2017 Updated: May 21, 2017 9:44pm ‘); } HONG KONG (AP) — Cathay Pacific Airways said Monday it’s laying off nearly 600 staff at its headquarters in its biggest round of firings in two decades as it […]

Delta plane dumps fuel over Lake Michigan, returns to Detroit airport – USA TODAY

A Delta Airlines plane sits at Terminal 5 at Los Angeles International Airport on May 4, 2017.(Photo: Robyn Beck/AFP-Getty Images) DETROIT — A Delta flight headed to Seoul, South Korea, had to dump fuel and return to Detroit Metropolitan Airport on Saturday after a light in the cockpit indicated there possibly was an open maintenance panel on […]

Delta plane dumps fuel over Lake Michigan, returns to Detroit airport – USA TODAY

A Delta Airlines plane sits at Terminal 5 at Los Angeles International Airport on May 4, 2017.(Photo: Robyn Beck/AFP-Getty Images) DETROIT — A Delta flight headed to Seoul, South Korea, had to dump fuel and return to Detroit Metropolitan Airport on Saturday after a light in the cockpit indicated there possibly was an open maintenance panel on […]

Hot dogs recalled for containing bits of metal – NJ.com

Hot dog manufacturer John Morrell and Co. has recalled more than 200,000 pounds of its beef franks because they may contain bits of metal. The Ohio-based company on Friday recalled about 210,606 pounds of Nathan’s skinless & beef franks and Curtis beef master beef franks, according to the U.S. Department of Agriculture’s Food Safety and […]

Hot dogs recalled for containing bits of metal – NJ.com

Hot dog manufacturer John Morrell and Co. has recalled more than 200,000 pounds of its beef franks because they may contain bits of metal. The Ohio-based company on Friday recalled about 210,606 pounds of Nathan’s skinless & beef franks and Curtis beef master beef franks, according to the U.S. Department of Agriculture’s Food Safety and […]