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S&P lowers Spain’s debt rating a notch to ‘AA-’

WASHINGTON — Standard & Poor’s cut Spain’s credit rating by one notch to “AA-” from “AA” with a negative outlook on Thursday, following downgrades to the country’s top banks. S&P said Spain’s high unemployment, tighter financial conditions and “the likely economic slowdown in Spain’s main trading partners” prompted the downgrade.…

Greece to face inspectors as Germany hints bailout

ATHENS (Reuters) – Greece’s lenders are sending a team to Athensto inspect a government austerity plan they want implemented in exchange for aid, while Germany suggested a new bailout may have to be renegotiated. Facing a wave of strikes and protests, Greece’s Socialist governmentis accelerating its debt strategy to meet the terms of an International…

U.K.’s Cameron under pressure over cuts after riots

LONDON (Reuters) – Prime Minister David Cameron is under growing pressure to abandon plans to cut police funding, part of the government’s austerity drive, after the worst looting and rioting in decades hit cities across England. The Conservative Party leader said “the lawless minority” would be hunted down and punished,…

BBC journalists strike over job losses

BBC journalists began a second 24-hour strike on Monday in a row over job losses, threatening disruption to some of the broadcaster’s flagship programmes. Members of the National Union of Journalists (NUJ) are angry at around 100 compulsory job losses at the World Service and Monitoring division, which monitors mass…

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