Porsche SE has a debt of more than 10 billion euros ($14.05 billion)
Porsche is looking to lower its debt, which has risen to more than 10 billion euros ($14.05 billion), according to Reuters. Qatar and two families that control the company were set to make a 5 billion euro capital injection, according to the report. Qatar and the families would receive voting shares as a result, according to the report.
Calpers sues credit ratings agencies over SIVs
The biggest U.S. pension fund has sued the top three ratings agencies in a complaint linked to big losses linked to complex investments. Calpers filed a suit against Moody’s Investors Service, Standard & Poor’s and Fitch, accusing them of misrepresenting a form of debt called structured investment vehicles, which can contain a variety of assets.
Gannett beats expectations
Gannet Co Inc, the largest U.S. newspaper publisher, reported a second quarter profit of 46 cents per share, beating average analyst expectations of 37 cents, according to Reuters. Revenue was down 32 percent from a year ago to $1.4 billion. In the same quarter a year ago, the publisher lost $2.29 billion.