Economic Growth – Energy Sector “Punches above its Weight” In a webinar today that was chaired by S&P Ratings Services economist Satyam Panday, the agency’s market intelligence arm made some predictions based on their current economic models. Panday said that growth is slowing in many of the world’s emerging economies and that sluggish demand has resulted in inadequate wage and employment growth.
Concerns in China push global markets down China’s Shanghai Composite index saw the single largest one-day percentage loss since 2007 earlier today, shedding 8.5% of its value. Even as Chinese authorities allowed pension funds managed by local governments to invest in the stock market for the first time, potentially channeling hundreds of billions of yuan into the country’s market, concerns
‘The Big Three’ have all downgraded Gazprom, but China’s Dagong ratings agency recently issued the company its highest rating Standard & Poor’s rating agency today downgraded Russia’s state-owned oil and gas giant Gazprom (ticker: OGZPY) and a number of other major Russian companies, joining Moody’s and Fitch in a series of credit downgrades directed at the Russian oil and gas
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