Willis faces junk status as S&P downgrades the sector

Standard & Poor's has downgraded the credit rating of Willis Group, the New York-listed insurance broker and warned that it could cut the company to junk.

The move is a response to New York State attorney general Eliot Spitzer's investigation into improper commissions in the insurance industry.

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Pro Bono or Pro Nono? Law Firms Split on Fulfilling Deals With TrumpExternal link

Pro Bono or Pro Nono? Law Firms Split on Fulfilling Deals With Trump