Credit agency Standard and Poor’s has raised its rating on Cyprus to “B” from “B-“ today, saying the Mediterranean nation was faring better tha(...)

Italian prime minister Enrico Letta. Yields on 10-year Italian government bonds rose three basis points to 4.41 per cent today. Photograph:  Reuters/Tony Gentile

Italy’s credit rating was lowered to BBB, or two levels above junk, by Standard and Poor’s because of expectations for a further weakening of economic(...)