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Home > Blogs > QFINANCE Editor > QFINANCE: financial news roundup (April 26-May 1, 2013)

QFINANCE: financial news roundup (April 26-May 1, 2013)

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 the latest topics.

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Terms from this week’s Financial News Roundup

Wednesday May 1

The European Union may apply "appropriate action" in Bangladesh to try and improve working conditions in factories, the BBC reported today. Following the collapse of a factory last week killing 382 people actions could include duty- and quota-free access to EU markets.

Related article: Bangladesh - Economy

A newly survey revealed that consumer confidence rose globally in the first quarter, Reuters reported today. There was a considerable increase on sentiment in the United States, Japan and northern Europe, according to the article.

Tuesday April 30

Spain is heading for another year of recession, recent reports showed, as the country’s GDP dropped by 0.5% in first quarter according to The Guardian. "Spanish households are feeling the pain most severely," according to S&P economist Sophie Tahiri.

Related article: Spain's Dangerous Waiting Game

In the UK, the government is preparing a new wave of privatization, City A.M. reported on Tuesday. Business minister Michael Fallon announced the government would develop a syndicate of banks to float the 378-year old Royal Mail.

Monday April 29

The OECD published new figures revealing that the Netherlands and Luxembourg booked foreign direct investment of $5.8 trillion by the end of 2012, The FT reported on Monday. This figure is higher than that of the US, UK and Germany combined according to the report.

Related article: The thin end of a very worrying wedge?

37.5% of the Bank of Cyprus’ savers uninsured deposits were converted to equity according to The Daily Telegraph on Monday.

Friday April 26

Google searches seem to be used as directions for the stock market, the BBC reported last Friday. An analysis of search engine behavior of the past decade has shown similar and parallel trends according to the article.

Related article: Google in China—A thorny lesson unfolds

In the US, regulators are calling for a new interest rate benchmark to replace Libor, The Telegraph reported last Friday. This is following the investigations and scandals around the interbank borrowing rate in the past months.

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

Tags: banking , business , central banks , Finance , financial crisis , markets , news , regulation , stock , UK , US , US economy
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