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De daling van het bedrijfsresultaat die S&P verwacht, wordt volgens de kredietbeoordelaar ingegeven door verhevigde concurrentie voor KPN in zijn thuismarkt. Daarnaast heeft het telecombedrijf te maken met oplopende pensioen- en operationele kosten. S&P handhaaft de "stabiele" vooruitzichten voor KPN.
"We believe a Greek payment default could be a greater shock to the system than Lehman's failure, immediately causing global economies to contract and markets to decline," the hedge fund said in the letter, a copy of which was obtained by Bloomberg News. The euro is "structurally flawed and will likely eventually unravel".
"Gundlach drew parallels between the U.S. and Ancient Rome. Like the U.S., he noted that Rome had an insufficient tax system and a huge military budget. Like Rome, the U.S. faces "persistence of a destitute underclass," as reflected by the excruciatingly slow job recovery". Presentatie bij Business Insider.
As for its merit as an investment, Buffett observes the following: The cube of gold will produce nothing in the next hundred years (or, for that matter, thousands of years). The cube of gold will not pay you interest or dividends, and it won't grow earnings. You can fondle the cube, but it won't respond.
Yet after two years of fighting Greece's debt crisis, hardly anyone believes that this strategy will work -- not in Athens, Brussels or Berlin. German Finance Minister Wolfgang Schäuble stopped pretending long ago that he wasn't extremely annoyed by the stalling, delaying and squabbling of the parties in Athens. (…) As it turned out, Schäuble was right: The ministers couldn't make any decisions because some important documents were missing. A draft agreement on the debt relief agreement between Greece and its private creditors was missing as was an agreement about the most urgent austerity measures. Furthermore, the leaders of Greece's three coalition parties had failed to provide written pledges that they would abide by the decisions past elections scheduled for April. European leaders find themselves in a nearly irresolvable dilemma. If they go on as they have been, the country won't emerge from the crisis. If they force Athens out of the euro zone, they endanger the entire monetary union. That leaves just one viable -- but expensive -- strategy: Allow Greece to go bankrupt, but within the euro zone. This would make it possible to reduce the country's mountain of debt to a manageable level, providing the necessary leeway for a new start both economically and politically, through tough structural reforms and a growth strategy.
“Wat opvalt is dat er meer demonstranten actief zijn dan tijdens voorgaande acties in Athene. Tegelijkertijd zijn er relatief weinig spandoeken te zien, de meeste mensen verwachten ook wel dat een goedkeuring van de bezuinigingen niet meer te vermijden is. Het lijkt erop dat de betogers vooral willen laten zien dat ze zich mishandeld voelen door de regering, en zich tegen de bestuurders keren.” 
Instead, rescuing Greece look far more risky. The IMF believes Athens could need a further €250bn of support over the next 10 years. And the prize, beyond eurozone integrity, is just 2.5pc of the area’s economy. Weighed up, surely Merkel wouldn’t mind the Grexit so much after all. The German taxpayers might even reach for the ouzo. For Greece, there’s little to hope for.
The BICRA change reflects our view that Italy's vulnerability to external financing risks has increased, given its high absolute amount of external public debt. This results in adverse spill-over effects on Italian banks, in particular significantly diminishing their ability to roll over their wholesale debt.
Bloomberg reports that, the U.S., lacking a plan to contain $1 trillion deficits, faces the prospect of another rating cut in six to 24 months depending on the outcome of November elections, according to John Chambers of Standard & Poor’s. America has had an AA+ rating with a negative outlook since Aug. 5.
Sollte Griechenland die notwendigen Reformen nicht umsetzen, könne es nicht erwarten, "dass Solidaritätsleistungen von den anderen erbracht werden", sagte Juncker im SPIEGEL-Gespräch. Dann müsse Athen schon in zwei Monaten Insolvenz anmelden. Juncker sagte wörtlich: "Wenn wir feststellen sollten, dass alles schiefgeht in Griechenland, dann würde es kein neues Programm geben, dann hieße das, dass im März die Pleiteerklärung erfolgt." Allein die Möglichkeit, dass so etwas passieren könnte, sollte den Griechen, so Juncker, "dort Muskeln verleihen, wo sie im Augenblick noch ein paar Lähmungserscheinungen haben".
'Het ergste komt nog', zei de Spaanse premier Mariano Rajoy tot zijn Nederlandse ambtgenoot Mark Rutte over de situatie waarin zijn land verkeert. 'We kampen met een uiterst gecompliceerde erfenis, met een begrotingstekort van meer dan 8 procent, en de vooruitzichten voor groei dit jaar zijn heel slecht.'
De aandelen Facebook zijn pas over enkele maanden te koop, maar vooralsnog wordt de waarde van Facebook geschat op 75 tot 100 miljard dollar. Vanavond leverde Facebook bij de Amerikaanse beursautoriteiten de papieren in om 5 miljard dollar op te halen, eventueel uit te breiden naar 10 miljard.
“The eurozone is a slow-motion train wreck. Countries – and not just Greece – are insolvent. I think Greece will leave the eurozone in the next 12 months, and Portugal after. (...) There is a 50pc chance that the eurozone will break up in the next three to five years.
