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Daily News

Below please find daily updates pertaining to the latest in financial, business, and tax news:

The Wall Street Journal

China Takes Aim at Moody's After Rating Downgrade

Fri, May 26, 2017

Moody’s is facing a backlash in China against its decision to cut the country’s credit rating, a move that has come just as foreign ratings firms are set to receive greater access than ever to the world’s No.2 economy. ...

China's Titanic Debt: Downgrade Carries Warning About Growth

Thu, May 25, 2017

China’s first downgrade by Moody’s Investors Service since 1989 is a direct warning to Beijing that its growth model isn’t working and an illustration of the disconnect between the view inside and outside China. ...

Lawmakers Seek Deutsche Bank Details on Russia Trades, Trump Loans

Wed, May 24, 2017

Democratic lawmakers have asked Deutsche Bank to provide details about its internal reviews into Russian trades and clients, as well as loans made to President Donald Trump, according to a letter made public on Wednesday....

Foreign Central Banks Scooping Up Treasurys

Wed, May 24, 2017

Foreign central banks are buying U.S. government bonds again after paring their holdings in 2016, and China has been the biggest buyer. ...

Moody's Cuts China Rating for First Time Since 1989

Wed, May 24, 2017

Moody’s Investors Service cut China’s sovereign credit rating, citing expectations that the country’s financial strength will deteriorate in coming years as debt keeps rising and the economy slows. ...

BMO Reports Slower-Than-Expected U.S. Business Activity

Wed, May 24, 2017

Bank of Montreal said loan and deposit growth in the U.S. moderated in its latest quarter on slower-than-anticipated business activity....

Eurozone Finance Ministers Fail to Reach Deal on Greece's Debt Relief

Mon, May 22, 2017

Eurozone finance ministers, the IMF and the Greek government failed to hammer out a final deal on Greece’s debt relief and decided to postpone a decision for their next meeting in mid-June....

Azerbaijan Bank Creditors Balk at Restructuring Plan

Tue, May 23, 2017

A troubled lender from Azerbaijan is shaping up to be a battleground for U.S. and European investors facing big losses on bondholdings. ...

SoftBank, Saudis Launch $100 Billion Tech Fund

Mon, May 22, 2017

Japan’s SoftBank and Saudi Arabia’s sovereign-wealth fund launched the world’s largest technology fund, designed to steer capital to cutting-edge technologies in U.S. startups and other global firms....

Chinese Banks Rattled by Regulatory Blitz

Mon, May 15, 2017

The past two months have been tumultuous for Chinese lenders as a new banking czar has unleashed a blizzard of new directives, uncovered a fraud scandal and issued heavy fines. ...