A double decker bus passes the skyline with its dominating banking district in Frankfurt, Germany, November 8, 2023. REUTERS/Kai Pfaffenbach/File Photo
Revelation 13:16-18 “Also it causes all, both small and great, both rich and poor, both free and slave, to be marked on the right hand or the forehead, so that no one can buy or sell unless he has the mark, that is, the name of the beast or the number of its name. This calls for wisdom: let the one who has understanding calculate the number of the beast, for it is the number of a man, and his number is 666.”
Important Takeaways:
- Moody’s sours on banking sector outlooks for Germany, Britain and France
- The credit rating agency Moody’s said on Thursday that it was downgrading its outlook for the banking sector in a number of European countries as weak economies erode profits.
- It changed the outlook to negative from stable for the banking sectors of Germany, Britain, France, Belgium, the Netherlands and Sweden.
- Rising losses for unpaid loans and higher funding costs will chip away at profits, Moody’s said.
- “A deteriorating operating environment with low economic growth and high borrowing costs will hit credit growth as well as loan performance in the largest European countries, particularly in the corporate sector,” said Moody’s analyst Effie Tsotsani.
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