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Home > Blogs > QFINANCE Editor > QFINANCE: financial news roundup (July 8-12, 2013)

QFINANCE: financial news roundup (July 8-12, 2013)

Each week QFINANCE.com 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.

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 qfinancenews@bloomsbury.com

Friday July 12


Indian Axis Bank has launched its first British branch, City A.M. reported today. The third-largest lender in India received permission to set up last April, according to the article.

Related article: Derivatives Markets: Their Structure and Function

Europe and the U.S. have signed a deal over rules for derivatives, The Wall Street Journal reported today. The last-minute deal was signed today as European and US officials pressured the head of the Commodity Futures Trading Commission.


Thursday July 11


In China, finance minister Lou Jiwei has warned that growth could be at 7% this year, The Telegraph reported. This is the most “sobering comment to date from a senior policymaker on the country's slowdown”, the article reported.

Related article: China bank reserve cut signals deep concern over economy

Newly published figures revealed that Singapore’s economy grew faster than expected, Bloomberg reported on Thursday. This reduces pressure to ease monetary policy as the numbers showed the fastest pace in more than two years.


Wednesday July 10


The IMF has increased its forecast for the UK economic growth outlook, the BBC reported on Wednesday. While the predictions for global growth were reduced, the forecast for the UK was raised to 0.9% for this year.

Related article: Libor probe tests regulators' faith in "Chinese walls”

From next year, scandal-hit benchmark rate Libor will be run by the same body as the NYSE, the Guardian reported on Wednesday. The move will strip the British Bankers Association of its benchmark rate, which will be run by a subsidiary in London.


Tuesday July 9


New reports revealed that fewer Indian students return to their country after studying abroad, the Economic Times reported on Tuesday. This is mainly due to the economy’s slowdown and sliding rupee, according to the article.

Related article: Optimizing Internal Audit

In the UK, the biggest finance firms could see their internal auditors gain larger access to the workings of their employers. The move to fight bad business practice was announced earlier this week by the Chartered Institute of Internal Auditors, City AM reported..


Monday July 8


The 195,000 jobs added to the US economy in June might be a reason to be more upbeat, the Guardian reported, but the “reality is an aneamic recovery with flat growth and low productivity”.

Related article: Why Income Inequality is Killing the US Economy

Following reports on the US job boost, fears that the Federal Reserve could start cutting its stimulus measures have caused a considerable drop of Latin American currencies. Reuters reported that the move might draw investors out of emerging markets.


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

Tags: banking , China , EU , European Monetary Union , GDP growth , regulation , stocks and shares , US , US economy
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