The United States' top credit rating could be at risk should its nascent economic revival not develop into a full-blown recovery, Moody's Investor Service has warned.
The credit ratings agency cautioned that if the US were to grow at slower pace levels than expected, the largest economy in the world's already-extended finances could be over-stretched, in turn damaging its AAA credit rating, writes the Telegraph.
Were the US to lose its AAA rating, it could cause further financial damage, by increasing the cost of borrowing money, a necessary evil for a country predicted to have a $1.56 trillion (£980bn) budget deficit this year. Full story...
BAILED-OUT insurance giant AIG last night risked another wave of public disgust at the financial industry by awarding 'outrageous' bonuses worth more than £62m to executives in London and the U.S.
The payouts were sent out to staff in the same department - the financial products division - that was blamed for almost driving one of the world's largest firms out of business during the credit crunch in 2008, writes the Daily Mail. Full story...
‘Important to have an anchor’
Lack of innovation for solutions
Some 2,000 consumers affected
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