Moody's Investors Service said Detroit's filing for bankruptcy protection is "profoundly meaningful" for the small number of local governments in the United States that are below investment grade, and... more 
Moody's Investors Service said Detroit's filing for bankruptcy protection is "profoundly meaningful" for the small number of local governments in the United States that are below investment grade, and could change their approach to pensions and other long-term liabilities. Bankers working on the sale of the bulk of Vivendi's stake in Activision Blizzard Inc to the video games maker and its management could earn advisory fees of up to $80 million, according to an industry estimate. Stocks are falling in midday trading on Wall Street after more weakness in technology companies. The decline is putting the market on track for its first weekly loss in a month. less 
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Wochit
Fri, Jul 26, 2013 2:00 PM EDT