News / Economy

    S&P Cuts Italy's Credit Rating

    Standard & Poors has cut Italy's credit rating, citing weak economic growth and political uncertainty.

    The credit rating agency cut Italy's rating one notch Monday - from A+ to A.

    S&P said the country's shaky coalition government and differences in parliament limit Italy's ability to act against its ballooning debt and ability to slash spending.

    The agency also gave Italy a negative outlook, forecasting weak economic growth.

    Low credit ratings often scare away investors, who see lower-rated government bonds as risky.

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    Somali, African Union Forces Face Resurgent Al-Shababi
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    Henry Ridgwell
    April 28, 2016 4:20 PM
    The Islamic State terror group claimed its first attack in Somalia earlier this week, though the claim has not been verified by forces on the ground. Meanwhile, al-Shabab militants have stepped up their attacks as Somalia prepares for elections later this year. Henry Ridgwell reports there are growing frustrations among Somalia’s Western backers over the country’s slow progress in forming its own armed forces to establish security after 25 years of chaos.
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    Video Somali, African Union Forces Face Resurgent Al-Shabab

    The Islamic State terror group claimed its first attack in Somalia earlier this week, though the claim has not been verified by forces on the ground. Meanwhile, al-Shabab militants have stepped up their attacks as Somalia prepares for elections later this year. Henry Ridgwell reports there are growing frustrations among Somalia’s Western backers over the country’s slow progress in forming its own armed forces to establish security after 25 years of chaos.
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    Video West Urges Unity in Libya as Migrant Numbers Soar

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