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EU loses AAA rating in S&P downgrade

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Credit rating agency Standard & Poor's incited the ire of European Union officials on Friday when it snatched away the region's top AAA rating, citing tensions between member states and a deterioration in their overall financial health.

EU cracks down on market rigging

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Britain and other member states have agreed with the European commission on new regulations that would see lifetime bans for traders and fines of up to 15% of their annual turnover for companies if they are caught rigging markets.

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