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Home > Blogs > QFINANCE Editor > QFINANCE: financial news roundup (July 22-26, 2013)

QFINANCE: financial news roundup (July 22-26, 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 26

It has been a year since Mario Draghi’s promise to save the euro and his “job is only half done,” Bloomberg reported today. He has indeed done “whatever it takes” to preserve the currency as proven by bond yields’ return to calm, but his aim of “ending financial fragmentation remains elusive” as companies in countries such as Spain, Greece, and Portugal are still struggling to get funding.

Related article: Draghi proves masterly at manipulating the euro

The US dollar is at a five-week low as gold is heading for its best year, Reuters reported today. This is probably a result of the Fed stimulus debate, according to the article.

Thursday July 25

China has announced its plans and new measures to boost its economy, the FT reported on Thursday. This is yet another sign of the leadership’s concern on the economy, the FT says.

Related article: China’s slowdown sends mixed signals

The highest level of failed trades in exchange-traded funds (ETF) for the past two years was recorded last Thursday, the FT reported. This is a direct result of failing equity markets, according to the article.

Wednesday July 17

Slightly more optimistic news from the EU as newly figures showed growth in the private sector, the BBC reported on Wednesday. This boosts hopes for the euro area that it will soon emerge from recession.

Related article: The EU regulatory regime

Japanese exports are recovering and increasing progressively, the BBC reported. Exports rose 7.4% from a year earlier according to the report.

Tuesday July 16

Goldman Sachs is accused of commodity price manipulation, over an 'aluminium price-hike' scandal, the Independent reported on Tuesday. The financial giant believed to have exploited rules over metal warehousing.

Related article: Goldman Sachs, the Symbol and Essence of What Went Wrong with Western Capitalism

Goldman Sachs, the Symbol and Essence of What Went Wrong with Western CapitalismGoldman Sachs, the Symbol and Essence of What Went Wrong with Western Capitalism

Following accusations and an investigation into GlaxoSmithKline last week, Chinese Public Security Bureau is believed to have detained an employee from the group’s competitor AstraZeneca, the Telegraph reported

Monday July 15

Wall Street banks emergence as merchants of oil, gas, coal and industrial metals is under threat as US regulators revisit a string of permits for trading physical commodities, the FT reported on Monday.

Related article: Sector profile- Oil and Gas

Japanese finance minister insisted the country must raise the sales tax rate next year, Reuters reported on Monday. This will show commitment to fixing its tattered finances, as deflation is easing.

Tags: banking , central banks , EU , European Central Bank , financial crisis , regulation , Spain , UK , US , US economy
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