Moodys Financial News

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Moody's Analytics, an arm of the ratings agency, has identified seven indicators in companies that can indicate heightened risks in corporate structures potentially enabling evasion of government sanctions, money laundering, fraud, and other financial crimes. Abnormal directorships, mass registration of companies in a particular geography, jurisdictional risks, financial anomalies, dormancy, circular ownership, and unusual ages of directors are the seven indicators, according to a report by Moodys’. Risks through one or more of these indicators imply presence of a shell company that may mandate a targeted investigation. $1.6 trillion are estimated to have been laundered each year globally, calling for efforts to stay ahead of evolving risks.

Delta Corp, an online gaming firm, plunged 5% to ₹143.10 apiece in early deals on Wednesday after the company delivered a weak set of numbers for the December-ending quarter (Q3 FY24). The company on Tuesday reported a consolidated net profit of ₹34.48 crore in Q3 FY24, marking a substantial decline of 59.34% compared to the net profit of ₹84.82 crore in the corresponding period of the previous year.

Sensex Today | Share Market Live Updates: Domestic equity markets are poised for a cautious opening on Wednesday amid mixed signals from global markets. Gift Nifty indicated a negative opening for the benchmark indices, trading around 21,577.5 down 25 points.Stocks in Asia opened mixed after US benchmarks struggled, with shares rising in Japan. Stocks in Australia and South Korea edged lower.

According to Moody's, US office vacancies rose to a record in the fourth quarter of 2023, «shattering the previous record.»

Moody's Investors Service on Tuesday said it has downgraded its rating on the senior unsecured bonds issued by Vedanta Resources to Ca from Caa3. The rating for the Corporate Family Rating (CFR) of Vedanta Resources was also downgraded to Caa3 from Caa2, Moody's said.

Vedanta Resources Ltd (VRL), the London-based parent of Vedanta Ltd, as the company goes ahead with its bond restructuring exercise that will delay its immediate debt obligations. The company’s corporate family rating (CFR) was downgraded to Caa3 from Caa2. Moody’s also downgraded the rating of the company’s bonds to Ca from Caa3.

Updated at 23:27 ET (04:27 GMT) with more details on China.

BEIJING (Reuters) — China's manufacturing activity likely contracted for the third consecutive month, a Reuters poll showed on Thursday, weighed by soft demand for manufactured goods, a reading that would embolden calls for more policy support.

Meanwhile, China's consumer prices fell the fastest in three years in November while factory-gate deflation deepened, indicating rising deflationary pressures as weak domestic demand casts doubt over the economic recovery. Xu Tianchen, senior economist at the Economist Intelligence Unit, said the data would be alarming for policymakers and cited three main factors behind it: falling global energy prices, the fading of the winter travel boom and a chronic supply glut. Early this month, rating agency Moody's downgraded the outlook for China's economy from 'stable' to 'negative' owing to persistently lower medium-term economic growth and the ongoing downsizing of the property sector in the country. China is struggling with grave portends for its economy which has been for long the toast of the world. China’s economy will slow next year, with annual growth falling to 4.5% from 5.2% this year despite a recent recovery spurred by investments in factories and construction and in demand for services, the World Bank said in a report last week. While it was briefly seen to be emerging strongly out of the Zero-Covid policies, the hope was short lived. The ongoing real estate crisis has dampened the consumer spirit, huge debt is weighing down the economy, foreign investors are losing confidence and unemployment and deflation are dogging the world's second-largest economy. Add to that President Xi Jinping's crackdown on private business. While China is not heading towards a collapse, its miracle growth is now a thing of the past.

'Permanent Distortion' author Nomi Prins argues Fed policy is adversely affecting everyone, on 'Making Money.'

Florida Attorney General Ashley Moody joins ‘Varney & Co’ and discusses Florida’s efforts to tackle crime during a wide-ranging interview.

Inflation declined slightly last month on the back of weaker prices at the gasoline pump and a broader easing of price pressures throughout the U.S. economy, experts said.

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By Huw Jones

prices dropped to six-month low after US inventory data. On Tuesday, both benchmarks settled at their lowest since July 6, a fourth straight session of losses.

By Marc Jones

Investing.com — U.S. stock futures hover around both sides of the flatline, as markets geared up for fresh labor market data that could help indicate how the Federal Reserve will approach its future interest rate decisions. Elsewhere, GameStop (NYSE:GME) shares slip after the video game retailer and meme stock darling posted lower-than-projected quarterly net sales, while China's exports rise in November.

Also Read: Putin to visit Saudi, UAE on December 6 after OPEC+ cuts, host Iran President: What's on agenda? Back home, on the Multi Commodity Exchange (MCX), crude oil futures due for a December 18 expiry, was last trading lower by 4.75 per cent at ₹5,791 per bbl, having swung between ₹5,784 and ₹6,068 per bbl during the session so far, against a previous close of ₹6,080 per barrel. -Crude inventories fell by 4.6 million barrels, far exceeding the 1.4 million-barrel drop analysts had expected. There is demand destruction coming in from the fuel side.

SHANGHAI/HONG KONG (Reuters) — Moody's (NYSE:MCO) negative outlook on China has intensified Beijing's battle with market bears, raising pressure on the government for more forceful measures to prop up sinking stocks and stabilise the yuan as investor confidence deteriorates.

(Reuters) -Oil prices rose slightly in Asian trade on Wednesday, after posting losses for four sessions, as investors weighed the effectiveness of an extension in OPEC+ cuts on tightening supplies against worries of a worsening demand outlook in China.