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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 the erosion of Chinese tradition, a second round of quantitative easing, and interest rate rises in India and Australia.

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Monday:

The IoD says almost half of directors had pay frozen or cut

In its annual directors' rewards survey, the Institute of Directors revealed that last year 46% of directors in the private sector experienced a pay freeze or pay cut. Those who had a rise received on average 2.5%, equal to a cut when accounting for inflation.

Tuesday:

Chinese tradition of preferring sons is waning as house prices rise

The number of parents in China saying they’d prefer a daughter has risen, due to high property prices and urbanisation.

Wednesday:

Interest rates rise in India and Australia

India and Australia have upped their interest rates amid concerns over rising inflation. The Reserve Bank of India said that the issue of inflation has been intensified due to rising commodity prices worldwide and domestic demand.

Thursday:

Fed to pay an extra $600bn in QE2

The second round of quantitative easing aimed to further the US economic recovery will buy $600bn worth of Treasury securities by mid-2011.

Friday:

AIG loses $2.4bn in third quarter

AIG reported a net loss of $2.4bn. The US insurance giant claimed this was due to selling parts of the company in order to pay back the 2008 bailout worth over $100bn.

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