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Home > Blogs > QFINANCE Editor > A -couple of- weeks in the world of business and finance (December 22, 2011– January 5, 2012)

A -couple of- weeks in the world of business and finance (December 22, 2011– January 5, 2012)

Many of us were busy with celebration and festivity over the past few weeks, but the financial sector continued on in choppy waters as Europe’s future remains bleak. Feeling out of the loop? Don’t worry! QFINANCE has summarized the main headlines and news stories of the past two weeks in finance and business that have crossed our path. We hope you'll enjoy reading it and you'll come back next Thursday to brush up on your finance and business knowledge.

December 22-29, 2011

  • The EU agrees to direct 150 billion Euros on extra funds for the IMF, while strong data from Germany and bond sale in Spain boosted the euro- more info on AFP
  • Brazil’s Finance Minister Guido Mantega declared that his country would remain in the world fastest growing economy overtaking the UK this year. “The countries that will grow the most are the emerging markets such as Brazil, China, India and Russia,” he said- more on Bloomberg BusinessWeek
  • After the death of North Korea’s leader, Chinese and Japanese leaders urged for stability on the peninsula. Both governments worked together towards stronger financial links between the former rivals. China and Japan declared they would now encourage the use of their own currencies in bilateral trade which is mostly in US Dollars for the moment- more on The Associated Press
  • In Europe, after a failed bond auction Italian prime minister Monti asked for a larger European bailout fund to absorb the eurozone debt crisis despite the ECB efforts and actions earlier this month- more on Irish Times

December 29, 2011- January 05, 2012

  • Hungarian’s 10 year old Bond yields jumped to 2 ½ as the EU’s most-indebted eastern member is likely to fail to get the international aid it’s been asking for– more on Bloomberg
  • UK confidence seems to be at its lowest in the past three years, as reported by Lloyds Bank Corporate Markets, which stated there was a 74 percent chance of an upcoming recession- more on Bloomberg
  • The eurozone banking system seems to be raising credit crunch fears as the 453bn euros were blocked in the ECB’s “deposit facility”- more on The Guardian

Come back next Thursday for another report on the world of business and finance.

Tags: banking , central banks , China , ECB , economic recovery , EU , European Central Bank , European Monetary Union , eurozone , financial crisis , Greece , IMF , regulation , sovereign debt , UK , US , US economy
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