DAI: Wall Street surrenders gains as Moody's downgrades Greece

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Good evening Postlinuxeg, MON 14 Jun 2010    Wall Street surrenders gains as Moody's downgrades Greece Congress nears deal on bank trading crackdown Moody's cuts Greece government ratings to junk BP to face isolation from peers at Congress hearings Fed will take its time before exit: SF Fed paper Moody's see unprecedented oil spill crisis Wall St's last stand in closed-door horse-trading Fed's Bullard says strong global recovery under way Spirit Air cancels more flights Cablevision to buy Bresnan, expanding west BP clean up costs soar Zurich Financial eyes IrelandSL Wimbledon sponsors boost prize money Wall Street surrenders gains as Moody's downgrades Greece June 14, 2010 04:32 PM ET NEW YORK (Reuters) - U.S. stocks ended little changed in a low-volume session on Monday after a downgrade of Greece's debt took the wind out of the market's sails. Full Article Congress nears deal on bank trading crackdown June 14, 2010 03:42 PM ET WASHINGTON (Reuters) - Some parts of a controversial proposal to curb risky trading by banks appeared likely to be included in the historic Wall Street reforms now being negotiated by U.S. lawmakers, a move that would be a sharp rebuke to the banking industry. Full Article Moody's cuts Greece government ratings to junk June 14, 2010 03:44 PM ET NEW YORK/ATHENS (Reuters) - Moody's, citing risks on an EU/IMF bailout package, cut Greece's credit rating to junk status on Monday, pushing the euro down, although analysts expect little market impact from the widely expected cut. Full Article BP to face isolation from peers at Congress hearings June 14, 2010 03:05 PM ET WASHINGTON (Reuters) - Top competitors are expected to distance themselves from BP Plc on Tuesday as normally clubby oil industry executives gather for a Capitol Hill grilling on the worst oil spill in U.S. history. Full Article Fed will take its time before exit: SF Fed paper June 14, 2010 01:06 PM ET WASHINGTON (Reuters) - The U.S. Federal Reserve's exit from its ultra-low interest rate policy will take a "significant period" of time, a San Francisco Fed economist said in a paper published on Monday. Full Article Moody's see unprecedented oil spill crisis June 14, 2010 10:48 AM ET NEW YORK (Reuters) - The worst oil spill in U.S. history has created an unprecedented financial, legal, regulatory and environmental crisis for companies that operate in the Gulf of Mexico, Moody's Investors Service said on Monday. Full Article Wall St's last stand in closed-door horse-trading June 14, 2010 12:47 PM ET WASHINGTON (Reuters) - Wall Street is making a last stand against regulatory reform in behind-the-scenes meetings in Congress, where lobbyists hope to use high-stakes horse trading to blunt provisions that could cost the industry billions of dollars. Full Article Fed's Bullard says strong global recovery under way June 14, 2010 08:59 AM ET TOKYO (Reuters) - A strong global economic recovery is under way, and is unlikely to be thrown off course by European debt woes or the improbable event of the bursting of an asset bubble in China, a top Federal Reserve official said on Monday. Full Article Spirit Air cancels more flights June 14, 2010 01:15 PM ET NEW YORK/WASHINGTON (Reuters) - A pilots' strike at Spirit Airlines prompted the carrier on Monday to extend flight cancellations through mid-week, with shares of rivals moving higher on prospects of more business. Full Article Cablevision to buy Bresnan, expanding west June 14, 2010 02:02 PM ET NEW YORK (Reuters) - Cablevision Systems announced a one-two punch to acquire Bresnan Communications for $1.37 billion and repurchase $500 million of its own stock, sending shares up 6.2 percent as investors cheered moves to expand its business while rewarding shareholders. Full Article

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