business - "credit"

US stocks suffered significant declines Wednesday, after the second-largest US package company FedEx reported a loss and a financial analyst warned of more credit crisis writedowns.

HAMILTON, BERMUDA (MARKET WIRE) Brookfield Infrastructure Partners L.P. (the 'Partnership') (NYSE: BIP) today announced that Brookfield Infrastructure L.P. (together with its subsidiaries, 'Brookfield Infrastructure') has closed a $450 million revolving credit facility with a syndicate of global financial institutions, as previously disclosed. The credit facility will be used for general corporate working capital purposes as well as to fund growth capital investments and acquisitions.

Morgan Stanley became the latest financial group to be hit by the actions of a suspected rogue trader after revealing that a London-based credit derivatives trader had incorrectly valued his positions, forcing the company to take a $120m revenue hit

Fresh concerns about the outlook for the global banking sector helped undermine US and European equity and credit markets

The Dow industrials sank to their lowest close in three months on Wednesday after slipping below 12,000 for the first time since mid-March, as worries about a weak economy compounded credit sector concerns and drove shares of banks, autos and transportation companies sharply lower.

So farewell, Sir John Gieve. News of his resignation as deputy governor of the Bank of England rippled around last night's Mansion House dinner even as Sir John sat there at the high table, apparently...

A Royal Bank of Scotland credit strategist, Bob Janjuah, rattled investors around the world today with predictions that the S&P 500, now trading near 1340, could plunge to 1050 by September, as ''all the chickens come home to roost' from the global boom.' 'A very nasty period is soon to be upon us -- be prepared,' he said, according to the Daily Telegraph.Bits and pieces of Janjuah's warning to RBS clients seem to be floating around the Internet. However, RBS spokespeople said the note was for RBS clients only. They said they couldn't provide me and other members of the media with a full copy of the report. An RBS representative implied Janjuah was definitely speaking for himself and not for the bank as a whole.Based on what I have seen, Janjuah's argument is that the European and U.S. economies will show a lot of weakness this summer. That will put the U.S. Federal Reserve and possibly the European Central Bank in a bind: If they raise interest rates, they would slow an already

Corporate America's view of the U.S. economy has grown bleaker, weighed down by surging energy prices, a credit crunch and the worst housing slump in decades, according to two surveys released on Wednesday.

Brookfield Infrastructure Closes $450 Million credit Facility

I received an email from Rob Arnott, chairman of Research Affiliates, today about this story . It seems the Royal Bank of Scotland is even more bearish than Arnott. The firm is telling investors to brace for 'a full-fledged crash in global stock and credit markets over the next three months as inflation paralyses the major central banks.''And BusinessWeek thinks I'm 'the bear'?' Arnott says of the recent profile I wrote about him in BusinessWeek. Arnott gives RBC's scenario 'very low odds, though of course anything is possible.' 'I'm just calling for another leg to the bear market, not a global market crash!' Arnott adds. 'The prescription in both cases is simple: Invest conservatively until bargains abound.'Do you agree with Arnott? Or do you think a crash is coming?