Tag Archives: Wall Street

Wall Street: Latest News

  • BRICS Members Divided On Creating Their Own Credit Rating Agency, Worry About Credibility

    BRICS credit rating agency By Staff, 3:04 pm

    Efforts to set up a BRICS credit rating agency hit a roadblock Sunday. China is concerned and not in favor. Some members worry about lack of credibility and access to dependable data as they take on Wall Street’s Big 3 — S&P, Fitch and Moody’s. Fraud charges against South African Finance Minister Pravin Gordhan have raised fears the country is moving closer to a junk rating by Wall Street credit ratings services.

  • Will China’s Economic Slowdown Hit Africa Hard?

    By Dana Sanchez, 11:04 am

    Michael Pettis is a professor of finance at Peking University in Beijing, known for his pessimism about China. He worked on Wall Street as an equities trader. His opinions are not shared by another China heavyweight, Investec Asset Management strategist Michael Power, who said China was experiencing “natural economic growing pains.” Growth will be slower, Power conceded, but off an ever-growing base.

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