A former Foundry Networks Inc. executive was charged in what prosecutors called a $27 million insider-trading scheme with tipping a California hedge fund analyst about the company’s acquisition by Brocade Communications Systems Inc.
Portugal doesn’t present the risk of default that Greece does to the rest of the European Union because officials there are seeking to contain the nation’s financial crisis, according to Fitch Ratings.
Fitch Ratings Ltd. Managing Director of Sovereign Ratings David Riley told Sky News in an interview that after the Spanish government “started taking some pretty tough decisions” to bring Spain’s public finances under control, the country is “decoupling from developments in Portugal and Ireland in terms of what’s happening in the market, with interest rates and bond yields.” However, the country “is not out of the woods yet,” Riley said.
Fitch Ratings Ltd. Managing Director of Sovereign Ratings David Riley told Sky News in an interview the budget announced by the U.K. government yesterday was “in the whole, the right thing to do.” The government’s initiatives to set out a “credible, admittedly tough, fiscal program has actually been very important in supporting the U.K.’s Triple A status,” Riley said in the interview.
The U.S. government’s top credit rating of AAA may be lowered in the medium term even after President Barack Obama signed into law a debt-limit compromise that prevented a default, according to Fitch Ratings.