BA owner IAG reports profit rise, share buyback
LONDON British Airways owner IAG said it will return 500 million euros (423 million pounds) to investors after reporting higher annual profits on Friday, helped by cost-cutting and lower fuel costs.
Moody's said it was taking ratings actions on 114 financial institutions in 16 European countries to reflect the impact of the continent's debt crisis and the deteriorating creditworthiness of governments in the region.
"Moody's expects that once ratings will fully reflect the effects of currently foreseen adverse credit drivers," the agency said.
Moody's said that for 99 financial institutions, the standalone credit assessments have been placed on review for downgrade. For 109 institutions, the long-term debt and deposit ratings have been placed on review for downgrade.
For 66 institutions, the short-term ratings have been placed on review for downgrade.
(Reporting by Wayne Cole)
LONDON The head of French carmaker PSA played down the threat to British factories when he discussed the potential takeover of GM's European operations with union officials and politicians in London on Friday.
LONDON British banks approved the most mortgages in a year last month and consumer borrowing saw some of its fastest growth of the past decade, industry data showed on Friday, contrasting with earlier signs of slowing momentum.