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BP's Chairman says his company is still strong despite the crisis in the Gulf1 of Mexico. Rating Agency Moody2 has downgraded BP's credit rating by three notches3, following similar moves by the other two rating agencies earlier this week. Banking4 sources say the oil giant was seeking seven-billion dollars in loans from banks. BP Chairman Carl-Henric Svanberg says the company will survive despite having to shell out billions of dollars in compensation.
US President Barack Obama has warned G20 leaders against cutting national debts too quickly. In a letter to G20 leaders, the president said withdrawing economic stimulus5 too early raised the potential for recovery risks and renewed hardship.
To the markets now, and Wall Street has finished the week higher as European debt fear subsided6. The Dow Jones and the NASDAQ both finished slightly ahead while the S&P 500 also inch forward. But European markets are down, the FTSE shedding a three points and the DAX losing seven.
At home, the ALL ORDS and ASX 200 both finished higher, mostly unaffected by the resignation of David Jones chief Mark Mclnnes. And the Australian dollar is buying 87.2 US cents.
1 gulf | |
n.海湾;深渊,鸿沟;分歧,隔阂 | |
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2 moody | |
adj.心情不稳的,易怒的,喜怒无常的 | |
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3 notches | |
n.(边缘或表面上的)V型痕迹( notch的名词复数 );刻痕;水平;等级 | |
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4 banking | |
n.银行业,银行学,金融业 | |
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5 stimulus | |
n.刺激,刺激物,促进因素,引起兴奋的事物 | |
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6 subsided | |
v.(土地)下陷(因在地下采矿)( subside的过去式和过去分词 );减弱;下降至较低或正常水平;一下子坐在椅子等上 | |
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