The ratings agency downgraded the country from double A plus to double A - its 2nd downgrade in two years. France's Finance Minister called the report "inaccurate" and said French debt remains safe.
India's creaky public healthcare system has spawned a network of private hospitals that is driven by profits. Over the years it has led to medical malpractices at the cost of gullible patients. Murali Krishnan reports.
Credit ratings agencies have declared Venezuela and its state-run oil company in "selective default." But Russia has offered to restructure the South American country's debt to ensure Caracas pays its other creditors.
Turkish inflation has risen to new highs, driven by cheap credit. The news is a blow to the central bank’s goal of lowering borrowing costs and casts doubt on whether Erdogan's cheap credit boom will survive the impact.
Britain's central bank has done what it avoided doing for the past 10 years. It's hiked interest rates to curb inflation caused by a steep drop in the pound's value. But the marginal rise is of a rather symbolic nature.
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