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Home > Blogs > QFINANCE Editor > QFINANCE weekly news round up

QFINANCE weekly news round up

Bringing to you the top finance and business news stories of the week. This week, Obama's State of the Union address and the politics behind the price of cocoa.

The head of the FSA asked for new regulation concerning UK consumer protection, as the financial crisis has led to the need for a ‘radical rethink’ on existing safeguards. See Bridget Hutter's 'Why Organizations Need to be Regulated: Lessons from History' for further reading.

Governor of the Bank of England Mervyn King warned that rising inflation could soon reach 5%. However, he showed support for spending cuts, saying “the right course has been set” for a recovered economy.

Following the US’s Financial Crisis Inquiry Commission’s reports that the 2008 crisis was ‘unavoidable’, midweek news centred on Obama’s State of the Union address (click here to see a video of the address in full). The speech was widely recognised to highlight the difference in thinking between that of Democrats, led by increased public spending to increase employment, and Republicans, focusing on budget cuts to ease the deficit.

Alassane Ouattara, widely accepted as the president of the Côte d’Ivoire, imposed a ban on cocoa exports in an attempt to make the incumbent president step down. As a result, the cocoa prices jumped, as the Côte d’Ivoire produces 34% of the world’s cocoa supply.

Tags: Bank of England , budget deficit , consumer protection , Cote d'Ivoire , FSA , Mervyn King , regulation , spending cuts , State of the Union , UK , US
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