Moody’s: Shutdown could hurt U.S. credit

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Marketplace

News, Business

4.5 • 1.4K Ratings

🗓️ 25 September 2023

⏱️ 1 minutes

🔗️ Recording | iTunes | RSS

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Summary

Stocks close higher; Moody’s warns a shutdown could impact the U.S.’s credit rating; Ford pauses battery plant construction; LEGO abandons recycled plastic plan.

Transcript

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0:17.0	I'm Henry App with the Marketplace Minute.
0:19.2	Stocks closed slightly higher today.
0:21.2	The Dow rose a 10th of 1%, the NASDAQ and S&P 500 were each up 4th 10th percent.
0:26.9	The country's credit rating could take a hit. If lawmakers can't avoid a government shutdown
0:31.2	at the end of the month, that's the warning today from Moody's.
0:34.4	The agency still gives the government a top AAA credit rating,
0:38.0	meanwhile, Fitch downgraded the country's credit earlier this year in the wake of the debt
0:42.2	ceiling crisis. Ford is pausing construction on an electric vehicle battery plant in Michigan,
0:47.7	saying it's not sure it can competitively operate the facility.
0:51.4	The plant was expected to cost over $3 billion.
0:54.8	The company has previously said it's slowing down its transition to EVs.
0:58.7	The move comes as Ford is negotiating a new contract with thousands of its workers.
1:03.0	And Lego is abandoning a plan to make its bricks from recycled plastic bottles.
1:07.4	The company has been trying to move away from oil-based plastics for its toys.
1:11.5	It found using recycled bottles actually increased carbon emissions.
1:15.3	I'm Henry App with the Marketplace Minute.

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