Standard & Poor’s news release responding to the government’s lawsuit over its mortgage-bond grades complained that the ratings company is being sued for “not predicting full magnitude of housing downturn despite failure of virtually everyone to do so.”
Investors withdrew a net $7.1 billion from equity funds tracked worldwide in the week to Aug. 25 and put some $5.2 billion into bonds amid concern economies in the U.S. and Europe are losing momentum, EPFR Global said.
China’s stocks rose, paring a weekly loss, as health-care companies and producers of consumer staples gained as investors sought companies more resilient to an economic slowdown. Coal producers and developers declined.
Sime Darby Bhd. will sign an agreement with Tenaga Nasional Bhd. and Mitsui & Co. Ltd. to study potentially using biogas to generate power at Sime’s oil palm estates. Briefing to be held at 2:15 p.m. in Kuala Lumpur.