Seoul / AFP Ratings agency Moody’s on Monday downgraded its outlook for South Korea’s banking system from stable to negative, predicting a deterioration in creditworthiness over the next year. “While our previous stable outlook had anticipated some weakening of profitability and pressure on asset quality, the operating environment for banks is deteriorating amid Korea’s diminished growth outlook and ongoing corporate ...

  Bloomberg Chancellor of the Exchequer George Osborne outlined the bleakest scenario yet if the U.K. votes to leave the European Union, saying that Britain’s economy would suffer permanent damage hitting the public in the pocket. Quitting the 28-nation EU would leave the U.K. economy 6 percent smaller by 2030, according to a Treasury analysis released on Monday. The forecast ...

  Bloomberg Forget about Greek debt sustainability. Another part of the continent is in need of relief—and this time, it’s a part of the core, not the periphery. That’s how Credit Suisse Group AG analysts led by Peter Foley characterized comments from German Finance Minister Wolfgang Schaeuble earlier this month. “The German Finance minister said record low interest rates were ...