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NY Liffe › (NYLF:YI.G13.E)


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Fitch drops ratings on Japanese debt as the country attempts to rein in debt and spur growth

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Fitch Ratings has lowered Japan's credit rating as the country continues to wrestle with staggering debt. Fitch said Monday that the government did not include sufficient measures in its budget to replace a sales tax hike it put off in the current fiscal year, which ends next March. Japan's debt is the largest among developed nations and more than twice the size of its economy. The country eventually has to boost taxes to cover rising costs for health and elder care as the average age in the nation rises. But a sales tax increase last spring hurt consumer and business spending as the Japanese economy slipped into a recession.

Synalloy posts profit of $3.6 million in 1st quarter

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SPARTANBURG, S.C. (AP) _ Synalloy Corp. (SYNL) on Monday reported first-quarter earnings of $3.6 million. The Spartanburg, South Carolina-based company said it had net income of 42 cents per share. Earnings, adjusted for non-recurring gains, were 34 cents per share. The maker of stainless steel pipe, storage tanks and specialty chemicals posted revenue of $51.6 million in the period.

General manager of China's largest oil refiner under investigation amid anti-corruption drive

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BEIJING (AP) — The general manager of China's largest oil refiner, Sinopec, has been placed under criminal investigation amid an ongoing crackdown on corruption. Wang had already been issued a major administrative demerit over a November 2013 pipeline explosion that killed 62 people in the eastern port city of Qingdao.

Mercury General posts 1Q profit of $26.2 million, result misses forecasts

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LOS ANGELES (AP) _ Mercury General Corp. (MCY) on Monday reported first-quarter net income of $26.2 million. On a per-share basis, the Los Angeles-based company said it had profit of 47 cents. Earnings, adjusted for investment costs, were 59 cents per share. The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 70 cents per share.

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