• Moody’s cuts Spain’s rating to A1 from Aa2. Concerns about slowing growth, housing prices, and the festering sovereign debt crisis drove the the rating agency’s move. From Reuters News.
• Intel’s upside earnings surprise settled some concerns about slowing demand for technology firms in emerging markets. Company earnings were up 28% year-over-year on the back of strong PC company revenues in China, India, Turkey, and Indonesia. From the Wall Street Journal.
• Strikes in Greece shut down government departments, businesses, and some public services as tensions mount over austerity plans. From Reuters News.
• European regulators ratcheted up a Euribor investigation on big banks, adding another firefight for financial institutions to manage. Concerns over EU antitrust violations and rate fixing sparked document seizures at several large banks. From the Financial Times.