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FTC: Cancer charities scammed $187M from consumers

The Federal Trade Commission has filed a lawsuit against four cancer charities, alleging less than 3 percent of $187 million went to patients.
Source: CNBC.com | By: Kelli B. Grant
Another rating agency passes judgment on Chicago's finances

CHICAGO- Fitch Ratings is the latest agency to weigh in on Chicago's credit worthiness, setting the city's debt rating above the junk status given it by Moody's Investors Service. By lowering the city's rating to BBB+ from A-, Fitch Ratings indicated it believes the risk is low Chicago will default on its more than $8 billion worth of taxpayer-backed debt.
Source: The Associated Press
S&P puts Illinois rating on watch list for possible downgrade

CHICAGO, May 8- Standard& Poor's Ratings Services put Illinois' A-minus credit rating on a watch list on Friday for a possible downgrade after the state supreme court voided a law aimed at easing the state's huge public pension liability. The credit rating agency said it has a three-month window in which it will focus on the upcoming fiscal 2016 Illinois budget.
Source: Reuters
S&P says one-in-three chance of Turkey downgrade in next 12 months

ISTANBUL, May 8- Standard& Poor's said on Friday there was a one-in-three chance it could downgrade Turkey's sovereign rating in as little as six months, citing growing concerns about central bank independence. S&P cut the lira's local currency rating to "BBB-/A-3" from "BBB/A-2". "There is at least a one-in-three likelihood that we could downgrade Turkey within...
Source: Reuters