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Home > Blogs > QFINANCE Editor > QFINANCE: News Briefing (April 13– 19, 2012)

QFINANCE: News Briefing (April 13– 19, 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.
If you have any views on how we can improve this service or new areas you would like to see covered, please do not hesitate to contact us at

Friday April 13

It wasn’t a good end to the week for the Middle Kingdom as Chinese GDP growth slowed to 8.1% reports announced last Friday. This has been the lowest growth for China since Q1 in 2009 and the slowest pace in the last three years. This fall is mostly due to the major drop in foreign demand from the EU countries.
More on BBC

Monday April 16

Spanish borrowing costs rose to over 6% early this week, increasing bailout concerns. Data showing Spanish banks’ dependence on the reserve ECB loan, have raised great worries among investors as the yield on the 10-year old bonds peaked at 6.1%. The Spanish economy is at its lowest with the highest unemployment in Europe and more than half of unemployment amongst the under-25s.
More on BBC

Tuesday April 17

Argentina announced on Tuesday the re-nationalization of its major oil group YPF according to published reports. The head of state Cristina Fernández declared she had sent a Congress bill on Monday to put 51% the group in state hands. The Argentinean move might have also increased diplomatic tensions with Spain as the Spanish group Repsol lost its shareholding majority and suffered a sharp fall in shares.
More on the FT

Wednesday April 18

Japan is to give $60bn to the IMF in line with its efforts to develop and expand its resources, Japanese finance minister Jun Azumi, announced on Wednesday. Mr Azumi commented that the contribution and help to the IMF was “crucial if (we are) to ensure that the crisis is completely over.”
More on FT

Thursday April 19

While France and Spain were selling bonds at the auction on Thursday, the IMF has warned the European Banks against risks of a global financial crisis. Meanwhile in the US, Bank of America Corp announced a very positive first quarter with earnings higher than expected. The bank’s shares peaked at $9.16 before falling back to about $8.97 at mid-day.
More on Reuters
More on the WSJ

Featuring events

The 5th Annual Internal Control and Risk Management Conference 2012 will be happening on April the 19th and 20th in Shangai, China. The key topics will be focusing as follows:
  • Integration mechanism of risk management
  • Self-assessment and optimization process
  • Case Study – GE’s Practice and Effective Enterprise Risk Management
  • Monitoring and Mitigating the Risk from the 3rd Party
  • Control in CAPEX
  • Utilization of data analysis & Performance Measurement
  • Meet with 80 senior internal control, audit, compliance and finance leaders. The course is designed to strengthen the internal control environment, and improve the operational efficiency

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

Tags: banking , China , ECB , economic recovery , European Central Bank , European Monetary Union , eurozone , financial crisis , Germany , Greek debt , IMF , inflation , international differences , Ireland , Japan , regulation , sovereign debt , Spain , stocks and shares , UK , US , US economy
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