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• Rules Favoring Proxy Advisers Need Review, SEC’s Gallagher Says

  Policy makers should examine the prominence of advisory firms in corporate elections and consider whether regulations give them preferential roles in the process, a top U.S. securities regulator said.

• Credit Rating Agencies Need Access to Same Information, EU's Barnier Says

  Michel Barnier, the European Union’s financial services commissioner, said credit ratings companies should have access to the same information. He was speaking at a press briefing in Brussels today. If a ratings agency uses information for one of its clients “the other agencies must have access to the same information,” he said.

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  Nomura Retakes Top Bond Rank After Softbank Sale: Japan Credit

  Nomura Holdings Inc. regained the top spot in Japan’s bond underwriter rankings as it mobilized a 177-branch network to help Softbank Corp. sell debt to households and the impact of an insider-trading scandal faded.

• Protesters May Target Olympic Visit as Madrid Bids for Games

  Protests against spending cuts could disrupt a visit by Olympic officials to assess Madrid’s bid to host the 2020 Games amid record unemployment and mounting public-sector debt in Spain.

• Credit Rating Companies Fall Short of EU Rules, Regulator Says

  Credit rating companies are falling short of standards set by European Union, the bloc’s chief markets regulator said.

• About That U.S. Credit Rating . . .

  In the run-up, or slow walk, to the fiscal cliff, credit rating agencies warned that a failure to reach an agreement to avert the automatic, year-end spending cuts and tax increases would put the nation's sovereign credit rating at risk. Standard & Poor's had already downgraded the U.S. long-term debt rating to AA+ from AAA on Aug. 5, 2011, during the debate over the debt-ceiling.

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  Li Cutting Wrist Lifts Rail Costs Most in 16 Weeks: China Credit

  China’s railway network became the first test case for Premier Li Keqiang’s pledge to cut the “hand” of the state in the economy, pushing its borrowing costs up the most in 16 weeks.

• Trichet Says Policy ‘Accommodative’ After Rate Rise (Transcript)

  European Central Bank President Jean-Claude Trichet talks about the decision to raise the benchmark rate by 25 basis points to 1.5 percent and to ease Portugal’s access to emergency funds.

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  S&P Blessing Cairn Left M&T Bank With a Crumbling Pile of Losses

  In March 2007, Standard & Poor’s rated $773 million of the Cairn Mezzanine III collateralized debt obligation AAA. The deal crumbled after the rating company began cutting the rankings on bonds contained in the deal three months later.

• Kenny Says Ireland Seeks Lower Bailout Rates (Transcript)

  Irish Prime Minister Enda Kenny gives a speech about the country’s economy, housing market and the terms of its loan from the European Union and International Monetary Fund.

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