A round-up of the key stories across the specialist financial media, including news that Spain has had its credit rating cut by S&P
Spain cut by S&P for second time this year on banks, economy
Spain’s sovereign credit rating was cut for the second time this year by Standard & Poor’s on concern that the country will have to provide further fiscal support to banks as the economy contracts.
Bank of Japan expands stimulus as economy set to slow
The Bank of Japan has expanded its plan for government-bond purchases by 10 trillion yen ($124 billion) after the world’s third-largest economy showed signs of slowing and lawmakers pressed for more aggressive steps.
US economic growth likely cooled modestly in the first quarter as replenishing of inventories by businesses slowed, though stronger demand for automobiles and a lift to homebuilding from warm weather blunted the blow.
Macquarie, the Australian financial services group, has secured approval from local regulators to launch a share buyback even though annual profits fell by nearly a quarter.
