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RBS and S&P sued by European investors

Gavel

Royal Bank of Scotland and rating agency Standard & Poor's have been sued by a group of European institutional investors for damages of up to $250m suffered on complex financial products in the lead-up to the global financial crisis.

Fitch cuts France's rating on budget, economy woes

Francois Hollande

Fitch on Friday cut France's credit rating to AA-plus on an uncertain economic outlook amid the ongoing euro zone crisis and the need for structural reform, costing the monetary union's No. 2 economy its last major triple-A rating.

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