Patisserie Valerie, the
British cafe chain rocked by an accounting scandal and the
arrest of its finance boss, has been saved thanks to 20 million
pounds ($26 million) of loans from its chairman, the
entrepreneur Luke Johnson.
Rating agency Moody's Investors Service
said on Friday it has downgraded all long-term debt ratings of
Danske Bank A/S because of the criminal
investigations into the bank by the U.S. Department of Justice.
European stocks failed to stage a
recovery on Friday, posting their worst week since a market
correction last February as a new sell-off hit bourses across
the globe, amid worries about protectionism and fast-rising U.S.