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Home > Blogs > QFINANCE Editor > QFINANCE: News Briefing (April 6– 12, 2012)

QFINANCE: News Briefing (April 6– 12, 2012)

Each week brings you some of the biggest news stories from the past five days in finance and business – essential reading to keep you up to date with latest topics.

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Friday April 6

Last week ended with a considerable rise of US consumer confidence to the highest peak in the past four years. The Bloomberg Consumer Comfort Index (COMFCOMF) increased to -31.4 until April 1, the best since March 2008. Newly published numbers showed a drop of unemployment claims and positive expectations for a brighter job market to support the U.S. economy.
More on Bloomberg

Monday April 9

The bank holiday ended with very low European stocks due to concerns over the situation in Spain and the rise of Italian borrowing costs. The benchmark Stoxx 600 index dropped to 255.19, its lowest since last February. The market drop was also due to the U.S. nonfarm payrolls released last Friday that grew far below the expected 203,000 jobs, to 120,000 only.
More on WSJ

Tuesday April 10

French banks BNP, SocGen and Credit Agricole have put together a new business model under which loans will be arranged by selling the debt to third parties. In efforts to maintain their dominant position in project finance, they will now “have to develop and enhance the distribution capacity for non-vanilla lending" said KBW analyst Jean-Pierre Lambert.
More on Reuters

Wednesday April 11

The eurozone crisis was revived this week as markets didn’t seem to trust the efforts by European politicians stating that the worst was over. Concerns over borrowing levels in Spain and Italy are rising as Madrid’s benchmark 10-year bond yields fell to 6% on Tuesday, its lowest since November.
More on FT

Thursday April 12

New figures from the Office of National Statistics (ONS) showed an increase of the UK trade deficit in goods and services, up to £3.4bn from £2.5bn in January. It seems exports of goods to non European countries have dropped considerably as car sales to countries including the US, Russia and China dropped £400m.
More on BBC

Featuring events

Where are we today and where will we be in five years? is the question that will open the 9th Annual Pan-European Retail Banking Conference (22-23 May 2012, London). The event will provide the latest case studies on business strategies and retail banking products. All delegates will learn about contacting new customers, effective channels in on-boarding outreach, the best cross-sell strategies for new customers and the future of branch banking.

The recent turbulent changes in the industry increased the competitiveness among banks and their corporate clients. The 6th Annual Corporate Banking (Prague, 23-24 May 2012) will help participants design new strategies to adapt to new regulations, requirements and EU control systems. Features: Social Media and Corporate Banking (by Ian Alderton, CIO of the Year 2011); Case study: Lloyds Banking Group’s Partnership with the London 2012 Olympic and Paralympic Games.

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

Tags: banking , central banks , corporate governance , economic recovery , EU , European Central Bank , European Monetary Union , eurozone , Federal Reserve , financial crisis , Greece , Greek debt , IMF , inflation , International Monetary Fund , regulation , sovereign debt , Spain , stocks and shares , transparency , UK , US , US economy
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