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Home > Blogs > QFINANCE Editor > QFINANCE: financial news roundup (September 2 - 6, 2013)

QFINANCE: financial news roundup (September 2 - 6, 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.

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 September 6

The worst is over “for now” for the Indian rupee, Reuters reported on Friday. After hitting a record low of 68.85 to the dollar, the currency seems to have returned to relative calm, the article reported.

Related article: India’s economic wounds are self-inflicted

The euro is turning into a haven for the same investors who, three years ago, were pushing for a breakup of the currency union, Bloomberg reported. The currency is gaining favor according to the article, as it appears hedge funds are the most optimistic on the euro since 2011.

Thursday September 5

Ahead of its rivals, Samsung Electronics has launched yesterday the first smartwatch, the BBC reported. The “wearable technology” will go on sale in 149 countries and is priced at $299.

Related sector: Information Technology

In India, a package of reforms affecting the financial sector has been launched to help fighting the currency crisis and economic slowdown, the Economic Times reported.

Wednesday September 4

The OECD raised its UK growth forecast to 1.5% in 2013 from 0.8%, the BBC reported on Wednesday. This follows new figures showing the UK construction sector grew at its fastest pace for nearly six years.

Related article: The UK recession is officially over

In Kenya, the largest sub-Saharan’s sovereign bond issue is on its way with a $1.5 billion note, the FT reported on Wednesday.

Tuesday September 3

Brazil could face a strong drop in crops, the Guardian reported earlier this week. The world's major producer and exporter of food could be threatened if its farming methods are not adapted to climate change, according to a new study conducted by the Brazilian Panel on Climate Change (PBMC).

Related article: Global Warming, the challenge for the insurance sector

“UK exit from EU would risk bank exodus”, the head of the City of London financial district said in an interview on Tuesday. This would compromise the city’s dominance of the foreign exchange markets, according to the Money News article.

Monday September 2

Microsoft has bought Nokia’s mobile phone business for 5.4bn euros ($7.2bn; £4.6bn), the BBC reported on Monday.  The move came in an effort to “accelerate” Microsoft’s challenge to dominate competitors Apple and Google.

Italy has become the first country to introduce a tax on high-frequency trading, the FT reported on Monday.

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

Tags: banking , central banks , China , EU , European Central Bank , eurozone , financial crisis , Greece , regulation , sovereign debt , stocks and shares , UK , US , US economy
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