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Today's papers are jam-packed with analysis and comment on the US and European debt crises. Here's the best of it...

There was little relief coming Portugal's way after Moody's downgraded the country's credit rating to junk status (Ba2 from Baa1).

Jonathan Rees, director general of the Government Equalities Office, has reassured insurers there will not be a ban on age-based insurance pricing in the near future.

News the EU and IMF have reached a deal on Greece which should prevent a default have failed to calm markets, as the beleagured nation faces a new round of austerity measures and a government reshuffle.

A predicted wholesale shift by offshore hedge funds to re-domicile under EU UCITS legislation is unlikely, according to a survey by RBC Dexia and KPMG released today.

Barclays' decision to cut 500 positions in its corporate banking business has meant job losses in the UK banking sectors have hit almost 1,400 this week.

Guernsey regulators say they are pulling out all the stops to ensure they'll have the all important passporting procedures in place for its fund industry to market across the EU's jurisdictions in full compliance with the AIFM Directive come 2018.

The European Union (EU) is preparing to restructure Greece's bail-out package after ministers publicly acknowledged it would need further assistance.

Portugal has said the austerity measures necessitated as part of its 78bn euro bailout package will plunge the country into recession.

Portugal's caretaker prime minister Jose Socrates has announced he has reached agreement on a bail-out from the EU and the International Monetary Fund.