The Standard & Poor’s 500 Index retreated from a record amid concern the Federal Reserve will scale back its stimulus efforts. Gold and silver advanced as Moody’s Investors Service warned the U.S. rating may be cut. The yen rebounded from the weakest level since 2008.
An independent Scotland would have a banking system too big to save in a crisis and may lack the resources to compensate depositors, the Treasury said in a study into the economic implications of a U.K. breakup.
An independent Scotland would have a banking system too big to save in the event of a crisis and may lack enough resources to compensate depositors, the U.K. Treasury said, in a study into the economic implications of the nation breaking away from the rest of the country.
European stocks rose for a fourth week as earnings from Cie. Financiere Richemont SA to ICAP Plc beat analyst estimates and the Bank of England lifted its growth forecast for Europe’s third-biggest economy.
DekaBank Deutsche Girozentrale, the third-biggest creditor in failed Glitnir Bank hf, lost a 388 million-euro ($499 million) lawsuit against Iceland’s Treasury in a ruling by the island nation’s Supreme Court.