Funding & Business
Botswana Has Credit Rating Cut by S&P on Diamond Slump
Botswana’s credit rating was cut by S&P Global Ratings, another blow to its diamond-dependent economy that’s struggling with a slump in demand for its gems.
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Bill Dudley, former New York Fed President and Bloomberg Opinion columnist, discusses the outlook for this week’s Federal Reserve policy decision and the future path of interest rates. A quarter-point cut on Wednesday is “baked in the cake,” Dudley tells Bloomberg Television. The bigger question is whether they cut once or twice after September, he adds. “It’s going to be a very close call between those two outcomes.” Dudley also comments on the potential influence of Stephen Miran, who is is potentially on track for confirmation to a post as a Fed governor in time to participate in this week’s decision. Dudley’s views are his own. (Source: Bloomberg)
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MEG Energy Corp.’s board turned down Strathcona Resources Ltd.’s sweetened offer to buy the oil sands producer, recommending that shareholders stick with a rival offer from Cenovus Energy Inc.
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