China's growth beats forecasts; Moody's downgrades Ireland - papers

China's gross domestic product increased 9.7% in the first quarter from a year earlier the government said on Friday, down slightly from 9.8% growth in the fourth quarter of 2010, but still faster than most economists had predicted. MORE Moody's on Friday cut Ireland's sovereign rating by two notches and kept its outlook on negative, a day after fellow ratings agency Fitch upgraded its outlook for the country. Moody's said the downgrade to BAA3 from BAA1, which puts its rating two notches below both Fitch and Standard and Poor's, was due to the expected decline of the government's financi...