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Investments & Finance

Miners cut distressed debt pool by $60bn

Mining companies are getting back into financial shape and have cut the sector’s pool of distressed bonds by at least $60bn, providing another boost to the industry’s outlook as commodities enter a bull market. Anglo American and Glencore are among...

Gold near three-week high, set for second weekly rise

Gold inched lower on Friday as the dollar recovered, though prices held near a three-week high and were on track for a second straight weekly rise. Often perceived as an insurance against risk, gold has risen nearly 2 percent this week after weaker...

Moody’s lowers outlook for banks to negative

Ratings agency Moody’s on Friday lowered its outlook for the South African banking system to negative from stable, citing deteriorating operating conditions it expected in the next 12-18 months. “The outlook expresses Moody’s expectation of how...

Moody’s puts miners on review as low prices bite

Moody’s placed dozens of mining firms around the world on review for a credit downgrade on Friday as companies battle a slump in commodity prices due to oversupply and slowing growth in China. Moody’s said it would review the credit...