Money in a Minute: Headlines From Around the Web

FEDERAL DEBT: Moody’s warns U.S. of possible debt downgrade

A credit rating agency has issued a warning to Democrats and Republicans: Raise the debt ceiling or we lower your debt rating. “Moody’s Investors Service said that if the parties fail to make progress soon, it would put the U.S. rating under review for a possible downgrade,” USA Today reports.

STOCKS: Groupon files for IPO, hopes to raise $750 million

The hottest daily deals company has filed for its initial public offering – and could raise $750 million. Not bad for a money-losing operation. “Groupon is still struggling to actually make money,” MSNBC reports. “Last year, Groupon lost nearly $500 million.”

TECH: Google discovery of Gmail password-hacking prompts U.S. government review

The most popular free email service can cost you big if you get hacked – and it’s so bad the government is looking into it. “Google’s discovery of an attempt to steal passwords from Gmail users, which may have originated in China, is being reviewed by the U.S. State Department,” Bloomberg reports.

CARS: Ford to build its smallest engine ever

A three-cylinder engine? Ford is designing one. “The new EcoBoost engine, comparable to that found in a cruiser motorcycle, is in the final phase of development,” CNN reports. “EcoBoost engines will be available in 90 percent of Ford’s North American lineup by 2013.”

SCANDAL: New Jersey to be reimbursed for governor’s copter ride

New Jersey Governor Chris Christie and state Republicans are coming clean about helicopter rides. “They reimbursed taxpayers a total of $3,383.79 for the use of a police helicopter to travel to two of his son’s baseball games,” Bloomberg reports.

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