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Home > Blogs > QFINANCE Editor > QFINANCE: News Briefing (April 20– 26, 2012)

QFINANCE: News Briefing (April 20– 26, 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 20

The G20 warned and urged European governments to solve the debt crisis before it affects global growth. In a list of problems about the world economy, the G-20 quoted “the situation in Europe” on top of the list. IMF Director Christine Lagarde insisted that the recent donations from Japan and the UK would be an emergency backstop and that Europe has to deal with its own problems quickly.
More on Bloomberg

Monday April 23

The French presidential elections last Sunday resulted in a victory for the left candidate Francois Hollande who took the lead against Sarkozy with 28.2% of the votes. While the second round will be decisive as to whether Hollande or Sarkozy will be the leader of France for the next four years, international concerns are being raised on Hollande’s possible victory as he started his campaign declaring that his true enemy is "the world of finance".
More on BBC

Tuesday April 24

After the collapse of the Dutch government over fiscal austerity measures, Italy, Spain and the Netherland reported successful debt auctions last Tuesday. The Italian government sold €2.5bn of 2014 debt at 3.35% yield and Spain succeeded in selling €1.9bn. The auctions appeased the European markets and helped both Spain and Italy in their current debt.
More on the FT

Wednesday April 25

The UK officially returned to recession on Wednesday, after its economy shrank by 0.2% in the first three months of 2012 after a GDP fall of 3% in the fourth quarter of 2011, according to the Organisation for National Statistics. The first double dip for Britain since the 1970s, the figures showed weakness throughout the UK’s economy.
More on BBC

Thursday April 26

Despite positive results from Barclays and Deutsche Bank showing a good bounce back for investment banking, some of Europe’s top banks were strongly affected by the euro zone crisis. Santander declared on Thursday that first quarter net profit fell 24% as a direct result of the crash in Spanish property market affected by widespread joblessness.
More on Reuters

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

Tags: banking , central banks , Europe , European Monetary Union , eurozone , financial crisis , France , Francois Hollande , French elections , G20 , G20 summit , Greece , IMF , Ireland , Italy , Nicolas Sark , regulation , sovereign debt , Spain , UK , US , US economy
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