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Home > Blogs > QFINANCE Editor > QFINANCE Top 5 Stories of the Week

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 G20 currency war targets, UBS lobbying to end caps on executive bonuses, and revelations over the BP oil spill.

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Monday:

G20 sets targets for ‘currency wars’ prevention

G20 leaders will outline an action plan next week which will set out a framework to even out global economic imbalances and divert a possible ‘currency war’.

Tuesday:

Bank of England governor warns that bank reform will take years

Mervyn King has responded to bank reform proposals calling for radical reform that could take a number of years to implement successfully. Speaking in New York, King said that previous efforts, including the Basel reforms, were not enough to prevent another crisis.

Wednesday:

UBS pushes to end $1m cap on bonuses, FT reports

UBS is lobbying Swiss regulators to scrap the $1m cap on bankers’ bonuses, complaining that the cap puts a strain on executives’ personal finances.

Thursday:

German chancellor asks for revision of EU treaties

Addressing the German parliament, Angela Merkel asked for greater economic stability to be achieved through rewriting areas of the EU’s founding treaties.

Friday:

BP and Halliburton knew of cement flaws before disaster

A US investigator has accused contracting company Halliburton of faulty cementing at Deepwater Horizon oil rig. It was also revealed that BP knew of the flaws as the cement failed numerous tests before the disaster.

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