Snap shares rise as underwriters start coverage with 'buy'
Snap Inc , owner of messaging app Snapchat, received top ratings from a number of its IPO underwriters on Monday, sending its shares up more than 3 percent in premarket trading.
BRUSSELS The European Commission said on Friday that Standard & Poor's was wrong to cut the European Union's credit rating to AA+ from AAA since the 28 member states' commitment to running a balanced EU budget was underpinned by treaty.
S&P downgraded the EU for the first time on Friday, citing rising tensions on budget negotiations. The move follows cuts to the sovereign ratings of EU member states in recent months.
EU Economic and Monetary Affairs Commissioner Olli Rehn said in a statement: "The Commission disagrees with S&P that member states' obligations to the budget in a stress scenario are questionable. All member states have always, and also throughout the financial crisis, provided their expected contributions to the budget in full and in time."
(Reporting by Adrian Croft; Writing by Paul Taylor)
TOKYO Toshiba Corp wants its U.S nuclear unit to file for Chapter 11 protection from creditors as early as Tuesday, according to a source with direct knowledge of the matter, seeking a quick ringfencing of losses before the Japanese parent's financial year ends.