- Asian Development Bank to double clean energy investment in Asia to $2 billion yearly.
- Asian markets mostly lower as global rally continues to lose steam; European shares weaken.
- ECB: Write-Downs by banks will increase.
- Euro rises against US dollar to 1.3880 in wake of Russian comments on diversifying.
- Home construction climbed 17.2% in May; single-family starts rose for the 3rd month.
- New Zealand central bank says economy to grow again but recovery will be slow, erratic.
- Obama vows tougher Wall Street regulation, says Unemployment toreach 10%.
- Oil hovers above $70 in Asia as investors mull mixed signs on US economy.
- US consumer prices probably rose as gasoline costs climbed.
- Bank of America has ‘considerable' savings in Asia.
- Beijing orders 'Buy China' for stimulus projects, move could strain trade ties.
- Best Buy's Q1 net drops 15% ($153M) on restructuring. Revs rose 12% to $10.1B.
- British American Tobacco to acquire Bentoel for $494 million.
- Carlyle, Blackstone, TPG may buy Bank of America's First Republic Bank.
- China shares rise after Hu says stimulus working, Beijing determined to rebound.
- Democrats' health care bill to face first test as committee voting session set to begin.
- E*Trade exchanges its debt.
- Fed weighs using FOMC statement to damp rate-rise speculation.
- Fed Ex's May losses rose from $241M last year to $876M this year.
- GM Opel may reduce prices 40% to sell enough cars to save jobs.
- IRS, Treasury want cell phone tax repealed.
- Japan's key stock index rebounds on bargain hunting, bucking losses in US, Asia.
- Japan 'zombie' banks repaid most of 1990s bailouts.
- Lincoln Natl raises $600M, offers 40M shares at $15 each.
- Michelin announces 1,100 job cuts in voluntary departure scheme over 3 years.
- Morgan Stanley expected to repay all of the $10B TARP money.
- Qatar PM: Sovereign fund profits up $7B in first quarter of 2009, committed to Barclays.
- Singapore's exports drop 12 percent in May from year ago.
- UK jobless claims rise 39,300, less than economists forecast.
Recent Egan-Jones Rating Actions
TENNECO INC (TEN)
GAMESTOP CORP (GME)
RYLAND GROUP INC (RYL)
PULTE HOMES INC (PHM)
PRUDENTIAL FINANCIAL INC (PRU)
BEST BUY CO INC (BBY)
AK STEEL HOLDING CORP (AKS)
NUCOR CORP (NUE)
LINCOLN NATIONAL CORP (LNC)
FREEPORT-MCMORAN COPPER (FCX)
SIX FLAGS INC (SIXF)
HARTFORD FINANCIAL SERVICES (HIG)
Data provided by: Egan-Jones Ratings and Analytics