S&P Slashes PG&E Rating To Junk StatusS&P slashed San Francisco-based PG&E's credit rating to junk status as the utility grapples with the political and financial fallout from costly and deadly wildfires in California.
Stocks Nosedive Again: Dow Down Nearly 500 In 2 DaysInvestors are worried about slower economic growth in China, a gloomier outlook for U.S. corporate profits and an end to easy money policies in the United States and Europe. They’re also fretting over country-specific troubles around the world—from economic mismanagement in Argentina to political instability in Turkey.
California Attorney General Sues Standard & Poor’s Over Investment RatingsCalifornia’s attorney general has filed a lawsuit against debt rating agency Standard & Poor’s, claiming it inflated its ratings of certain investments, costing the state’s public pension funds and other investors billions of dollars.
Apple Worst Performing S&P Stock So Far This YearApple was the worst performing stock on the S&P 500 for the month of January, despite a historic surge for the index overall.
S&P Improves California Bond Outlook To PositiveAlthough California still faces a $9.2 billion deficit, the credit rating agency said the state has corrected a significant portion of its budget imbalance.
S&P: California's Fiscal Problems Different From GreeceCalifornia and Greece might share enviable weather and postcard-worthy beaches, but their fiscal problems aren't the same.