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Fitch Downgrades United Kingdom to ‘AA+’; Outlook Stable
The report positions this iTunes Radio launch as beating Pandora to launch in these English speaking regions. Apple Inc. (AAPL)plans to expand iTunes Radio to English-speaking countries outside the U.S. by early 2014, beating industry leaderPandora Media Inc. (P)to the U.K. and Canada, people with knowledge of the situation said. iTunes Radio is also set to start early next year in Australia and New Zealand, where Pandora already operates, said the people, who asked not to be identified because the plans arent public. Nordic countries are also being targeted in the same time frame, the people said. Of course, we first reported that iTunes Radio would see an expansion soon . Last week, w e noted that Apple is advertising positions in Canada for the launch of iTunes Radio in the country. We reported that this job listing indicates that Apple is gearing up for the launch in the coming months.
United Kingdom travel guide
At the same time, the agency has affirmed the UK’s Short-term foreign currency rating at ‘F1+’ and the Country Ceiling at ‘AAA’. The rating actions follow the conclusion of the review of the UK’s sovereign ratings initiated on 22 March and resolve the Rating Watch Negative. The previous Negative Outlook on the UK’s sovereign ratings had been in place since 14 March 2012. KEY RATING DRIVERS The downgrade of the UK’s sovereign ratings primarily reflects a weaker economic and fiscal outlook and hence the upward revision to Fitch’s medium-term projections for UK budget deficits and government debt. Despite the loss of its ‘AAA’ status, the UK’s extremely strong credit profile is reflected in its ‘AA+’ rating and the Stable Outlook. – Fitch now forecasts that general government gross debt (GGGD) will peak at 101% of GDP in 2015-16 (equivalent to 86% of GDP for public sector net debt, PSND) and will only gradually decline from 2017-18. This compares with Fitch’s previous projection for GGGD peaking at 97% and declining from 2016-17 and the ‘AAA’ median of around 50%. – Fitch previously commented that failure to stabilise debt below 100% of GDP and place it on a firm downward path towards 90% of GDP over the medium term would likely trigger a rating downgrade. Despite the UK’s strong fiscal financing flexibility underpinned by its own currency with reserve currency status and the long average maturity of public debt, the fiscal space to absorb further adverse economic and financial shocks is no longer consistent with a ‘AAA’ rating. – Higher than previously projected budget deficits and debt primarily reflects the weak growth performance of the UK economy in recent years, partly due to headwinds of private and public sector deleveraging and the eurozone crisis. Fitch has revised down its forecast economic growth in 2013 and 2014 to 0.8% and 1.8%, respectively, from 1.5% and 2.0% at the time of the last review of the UK’s sovereign ratings in September 2012.
There’s not much to recommend the UK in winter. Daylight hours are too short to enjoy outdoor sights and the weather can be foul. Don’t expect to share in the country’s most celebrated festival, Christmas: it’s very much a family affair and everything shuts Visit the ‘Celtic Triangle’. Stonehenge is one of the UK’s iconic sights, but usually busy, and the stones are fenced off. Nearby Avebury dates back to the same era and the stones, spread out by a post-card pretty village, can be explored on foot, for free. Nearby Silbury Hill completes the area’s neolithic icons Get Digging. The National Trust is a leading conservation charity that manages many of the UK’s most important buildings and landscapes. They often run programmes involving volunteer archaeologists to research further into the UK’s history Better with a Pint. Pubs – and beer – are a key part of the British identity. Most Brits will have a favourite pub that is at the heart of its local community. The UK’s most remote is on Scotlands Knoydart Peninsula Follow the Coast.