Standard & Poor's

Ratings firm Standard & Poor's dealt a further blow to reeling Cyprus Thursday, cutting its credit rating as the eurozone country struggles to avoid a banking sector meltdown.

Ratings firm Standard & Poor's cut troubled Cyprus' sovereign credit rating by one notch on Thursday citing "acute problems" in Cyprus's banking sector.

The S&P 500 flirted with an all-time high Thursday as equity markets continued their upward march in the wake of strong labor data and bullish market sentiment.

Tunisia's political crisis is taking its toll on the economy of a country that is also facing growing social unrest, with credit ratings downgrades and talks with the IMF on a $1.78-billion loan still in limbo.

India's finance minister pledged in his budget to cut a gaping fiscal deficit in a bid to avert a damaging credit ratings downgrade, but economists remain sceptical he can meet his goal.

The United States economy can weather the drastic spending cuts known as the sequester if they are short-lived, ratings firm Standard & Poor's said Friday.

Tunisian President Moncef Marzouki testified on Thursday in the murder probe of Chokri Belaid, as a judicial source named the Salafist suspected of the assassination that plunged the country into turmoil.

India's government increased spending by 16 percent on Thursday as it geared up for elections next year, in a budget that promised higher outlays for rural voters but a smaller public deficit.

The United States was warned Wednesday that its chaotic budget politics could lead to a new credit downgrade as the country readied for the impact of steep automatic spending cuts that begin in two days.

Ratings agency Fitch warned Washington Wednesday that continued political fighting over the government budget and deficit-cutting measures could lead to the US losing its top AAA grade.

Italian leftist leader Pier Luigi Bersani faced weeks of tough talks after admitting he had "come first but not won" key elections, as the markets reacted nervously to the political stalemate.

Australia's top triple-A rating appears secure despite high household debt and banks' high reliance on foreign funding, Standard & Poor's said Wednesday.

Rio Tinto risks losing its single-A credit rating due to a sharp jump in debt, Standard & Poor's said, warning that the Anglo-Australian mining giant may have to sell off assets to balance its books.

Sales of new homes in the United States sizzled in January, rebounding from a December decline amid shrinking inventory, government data released Tuesday showed.

US equity markets finished sideways for another week as concerns about Washington budget negotiations and the status of the Federal Reserve's stimulus program kept investor enthusiasm at bay.

Italy held its final day of campaigning on Friday ahead of crucial elections, as international investors warned an unclear outcome could shake the economy and set off shockwaves throughout Europe.

Italy held its final day of campaigning on Friday ahead of crucial elections, as international investors warned an unclear outcome could shake the economy and set off shockwaves throughout Europe.

Eurozone nation Cyprus is a genuine and growing default risk, the global credit rating giant Standard & Poor's said on Wednesday.

London shares rallied at the end of trade on Wednesday on an increasing prospect of more cash stimulus from the Bank of England.

Britain's economy, at risk of a third recession in five years despite record employment, could see a fresh injection of cash stimulus, according to minutes of a Bank of England meeting published on Wednesday.