As per recent news, Greece is rated as "selective default" by the Standard & Poor's Corp. in its latest ratings released on Wednesday.

The country's credit ratings were earlier rated at a "CCC" which downgraded to "selective default" in recently reviewed ratings by S&P. Greece is considering debt buyback that is anticipated on December 17, which may get the "CCC" rating back to it.

Germany will soon be seen as a state shareholder with France and Spain in the new ownership structure of the European aerospace and defense company EADS.

The announcement of the new ownership came from the company on Wednesday, in which, it confirmed Germany's joining to the panel of state shareholders even though the government's influence has shrink at the company.

It is for the first time in four days before the SA's third-quarter current account data release that rand has fell on Thursday with most of the trader's eyeing upon the SA's data release in a hope to see South Africa's current account widening in the third quarter and after Standard & Poor's cut Greece's debt rating.

As per reports, it has been revealed that Spain's consortium has been chosen to build the first subway in Ottawa, capital of Canada. It is said to be the biggest subway that is going to be built in the history of Ottawa.

Heizo Takenaka, an economist from Japan said that the central bank should consider increasing the purchases from the government debt to end the deflation, while he demanded one to three percent rise in consumer prices.

Amid the debt crisis that has grabbled Greece and Spain, the Euro rose 0.6% reporting a highest increase since last seven months.

The increase was recorded on Wednesday which is believed to come as efforts of Greece and Spain towards boosting their economy in order to get relief from the debt problems. The dollar, on the contrary, fell significantly putting it under pressure.

As per reports, it has been revealed that China's service sector has not been improving at a desired rate. It has been said that it's been second month and no changes in growth pattern have been witnessed, though expansion is taking place.

As per reports, it has been revealed that Lookout, a mobile security company has been entering into a deal with France Telecom, which is the owner of mobile carrier Orange. It has been found that France Telecom has decided to invest in the plans of Lookout, which now aims to become a household name.