Reuters Business

NEW YORK (Reuters) - Rating agency Moody's warned it may cut the triple-A ratings of France, Britain and Austria and it downgraded six other European nations including Italy , Spain and Portugal , citing growing risks from Europe 's debt crisis. Moody's move was less aggressive than rival agency Standard & Poor's, but its action puts London 's prized top credit rating in jeopardy for the first time. It said it was worried about Europe's ability to undertake the reforms needed to address the...Read Full Story

(Reuters) - A U.S. market regulator is for now dropping insider trading cases against three Swiss asset managers, despite accusations that two of the defendants improperly thwarted its investigation, including by throwing out a BlackBerry . In papers filed in U.S. District Court in Manhattan , the U.S. Securities and Exchange Commission said Compania Internacional Financiera SA and Coudree Capital Gestion SA had "repeatedly failed" to cooperate in providing evidence. The agency wants to end...Read Full Story

TOKYO ( Reuters ) - Japan 's Olympus Corp , which is trying to recover from a massive accounting scandal that battered its balance sheet, forecast on Monday a 32 billion yen ($412 million) full-year net loss, dragged down in large part by its ailing camera business. The loss estimate for the fiscal year ending March 31, compared with a 3.9 billion yen net profit made in the previous year, highlights the camera and medical-equipment maker's urgent need to shore up its finances in the wake of...Read Full Story

FRANKFURT (Reuters) - German travel and logistics group TUI <TUIGn.DE> looks set to agree the sale of its stake in container shipping company Hapag-Lloyd <HPLG.UL> to majority shareholder, the Albert Ballin consortium, this week. A spokesman for the finance authority of the German city state of Hamburg, which is part of the Albert Ballin consortium, said it was quite possible that a deal would be announced on Wednesday, when TUI holds its annual shareholder meeting. A TUI spokesman said: "We...Read Full Story

NEW YORK (Reuters) - Stocks fell on Friday, putting the S&P 500 on pace for its first weekly decline in the past six, after another snag in negotiations for a financial bailout package for Greece. All 10 S&P sectors were negative and the S&P 500 energy, financials and materials sectors were each down about 1 percent. The CBOE Volatility index <.VIX>, often referred to as Wall Street's "fear index," jumped 11 percent, its biggest percentage gain in three months. Investors have anxiously...Read Full Story