Ratings agency Fitch cut Greece's long-term credit rating from B- to CCC Thursday, only one notch above default level, reflecting worries over its ability to remain in the euro currency zone.

CNN: STORY HIGHLIGHTS

Since the higher wage automatically forces up pension payments to many better-off Brazilians, the vote was bad for shaky public finances as well as reflecting ill on Mr da Silva's ability to govern.

ECONOMIST: Lula's frayed relations with Congress

Moody's downgraded 28 Spanish banks, reflecting the agency's view that Madrid's ability to provide support to the local banking system has declined.

WSJ: U.S. Stocks Close Higher