S&P toughens rating rules

first_img Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof S&P toughens rating rules whatsapp HALF the world’s biggest banks could face a credit rating downgrade from Standard & Poor’s, the US ratings agency said yesterday as it announced proposals to review the way it rates the industry.In a sign of the pressure on agencies to respond to criticism that they failed to flag up weaknesses in bank balance sheets prior to the financial crisis, S&P’s stringent new criteria would consider not only a bank’s stand-alone credit profile but also that of its parent group or government.The criteria, a “significant change” from current rating methodology, would also see greater scrutiny of retained earnings and their capacity to cover anticipated losses, and greater emphasis on risks related to complex off-balance-sheet derivatives.“We are now emphasising structural changes in the economy, a bank’s business position, and its financial strength as key drivers of changes in creditworthiness,” it said.In a trial assessment of 138 banks, more than 40 per cent saw their stand-alone credit rating lose one notch or more. “For roughly half of the largest banks, the results show that the proposed criteria would result in downgrades,” it said. Fewer than a fifth of banks currently rated A-1 or higher would see a downgrade while only about 15 per cent of long-term issuer credit ratings were significantly affected. The new rules would apply to retail, commercial and corporate and investment banks. Share KCS-content Show Comments ▼ Thursday 6 January 2011 9:02 pm whatsapp Tags: NULLlast_img read more

Expedia profits slip due to higher taxes

first_img Show Comments ▼ whatsapp KCS-content Thursday 10 February 2011 8:39 pm Expedia profits slip due to higher taxes by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmcenter_img Share ONLINE travel agency Expedia said yesterday its quarterly profit slipped 30 per cent due to a higher tax rate and increased interest expense.The largest online travel agency said fourth-quarter net income amounted to $71.3m (£44.3m), or 25 cents per share, compared with $102.2m, or 35 cents per share, a year ago.Excluding one-time items, Expedia said it earned 32 cents per share, compared with analysts’ average estimate of 36 cents per share.The total value of Expedia’s bookings rose 14 per cent in the quarter from a year ago to $5.75bn. The company posted revenue of $808.4m, compared with forecasts for $801.3m. Revenue was $697.5m in the same period a year ago.Expedia’s operating margin narrowed to 18.5 per cent from 20.2 per cent. Gross bookings climbed 14 per cent, while transactions rose 13 per cent. Worldwide hotel revenue climbed 15 per cent, with nights stayed rising. Air revenue also increased 15 per cent.Shares of Expedia fell 5.3 per cent to $24.33 following the release of its earnings from their $25.69 close in regular trading on Nasdaq. Tags: NULL More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org whatsapplast_img read more