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QFINANCE Top 5 Stories of the Week

QFINANCE brings to you its top 5 financial news stories of the week, along with relevant QFINANCE articles and definitions to fill you in on background details. Stories this week include AIG's attempts to secure commitment from Kuwait, the IMF calling for a global currency deal, and BP signing a deal with Azerbaijan.

Monday:

AIG lowers the value of AIA in order to tempt Kuwait to invest

On Monday, American International Group (AIG) was forced to accept $1bn offering from Kuwait Investment Authority for the Hong Kong initial public offering of AIA, its Asian business.

Tuesday:

The Institute of International Finance calls for a global currency deal

IIF managing director, Charles Dallara, said that leading currencies needed to ‘come together and hammer out an understanding’ to avoid putting ‘a risk on all economies’.

Wednesday:

Currency debate heats up: IMF warns against using currencies as a ‘policy weapon’

The head of the IMF said that governments using the exchange rate to try and solve problems in their own countries could encourage a global currency war.

Thursday:

BP deal in Azerbaijan to go ahead

New chief executive of BP is set to sign a deal allowing for development of a natural gas field in the Caspian Sea, which will help BP recover from its $11.2 billion Gulf of Mexico oil spill.

Friday:

EU regulators back tougher than expected proposals for bankers’ pay regulation

EU proposals for caps on bank bonuses have greater limits on cash payouts than expected, drawing criticism from the UK and France.



Tags: banking , BP oil spill , currency war , economic recovery , EU , exchange rates , executive pay , IMF , Mergers and Acquisitions , regulation , US
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