9 eurozone nations downgraded by S&P

Standard & Poor’s said Friday that it has downgraded the credit ratings of nine euro area governments, including AAA-rated France and Austria.
S&P lowered its rating for Italy, Spain, Portugal and Cyprus by two notches. The move means Italian bonds are now rated BBB+, dangerously close to the junk bond level that could make […]

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Banker Who Fled Kim Jong Il Says New Leader May Open North Korean Economy - Bloomberg

Kim Jong Un may relax state controls over North Korea

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Ex-Fannie CEO Mudd leaves Fortress after SEC charges

Daniel Mudd is taking an immediate leave of absence from his role as CEO of investment firm Fortress Investment Group, less than a week after the Securities and Exchange Commission announced fraud charges against him and other former executives of Fannie Mae and Freddie Mac.
Mudd, who has headed Fortress () since August 2009, had […]

Ask the expert: Gary Fischer, Ross & Baruzzini

What is a lean health care project, and what is its most important ingredient?
Lean health care construction projects are, by their nature, fast-track and don’t leave room for redesign. Under such projects, contractors order materials and begin construction while the design is being completed. Redesign can lead directly to cost increases. Poor starts in design […]

Group: war crimes by both sides in Ivory Coast

An international rights group says in a Thursday report that 13 military leaders from both sides of Ivory Coast’s political divide committed war crimes during months of postelection violence in the West African nation, and called on the government to prosecute all suspects equally.
Human Rights Watch also warned that the government’s failure to charge anyone […]

Apple unveils new iPhone 4S

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Two St. Charles County developers admit mortgage fraud

ST. LOUISĀ 

Ford’s success stirs UAW resentment in labor talks

Ford’s turnaround over the last five years has resulted in big profits and won its CEO a reputation for brilliant management.
But those same achievements are stirring resentment among many of its factory workers. And that is complicating contract talks between the company and its union employees.
At The Rouge, Ford’s massive, 94-year-old factory complex in Dearborn, […]

Bigger pensions better performers

Bigger is better, at least when it comes to pension funds.
The largest— funds with $37 billion in assets on average — outperformed smaller plans — with an average of $1 billion — by 45 to 50 basis points, or 0.4 per cent each year, according to a new study.
Researchers at the University of Toronto’s Rotman […]

St. Louis-based banks: a snapshot

BANKS HEADQUARTERED IN ST. LOUIS AREA: A SNAPSHOT
Bad loans and
# of Return on Bad loans/ foreclosed property/ Tier 1
banks assets* total loans # total loans leverage ratio+
Q2 2010 77 0.47% 2.62% 4.21% 9.51%
Q3 2010 76 0.46% 2.86% 4.53% 9.52%
Q4 2010 75 0.33% 3.02% 4.65% 9.45%
Q1 2011 75 0.53% 3.16% 4.92% 9.51%
Q2 2011 74 0.56% 3.15% […]