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QFINANCE: financial news roundup (September 9 - 12, 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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Thursday September 12

“Is it 1997 all over again for South East Asia?” BBC’s Jonathan Head asks in his latest business analysis piece. Remembering the Indonesian crisis, he raises worries mainly about the deficit and household debt. Interviewed by him, a CSB executive affirms that: " the Thai economy is very different. Because (we) learned things like risk management, corporate governance, the ability to be flexible".

Related country profile: Indonesia

In the US, jobless claims have declined and reached the lowest level since April 2006, Bloomberg reported today.

Wednesday September 11

Financial Transaction Tax (FTT) is illegal according to EU lawyers in Brussels, the Daily Telegraph reported. This follows European efforts to impose an FTT and is, according to Open Europe, a “big win for the UK”, which threatened legal action against the policy.

Related article: Basel III: Uncharted Territory

Nike, Visa and Goldman Sachs will be added to the Dow Jones Industrial Average (DJIA), the Independent reported on Wednesday. This is a considerable shake-up of the 30-stock index, according to the report.

Tuesday September 10

Twitter will acquire a mobile-advertising exchange startup MoPub Inc., Bloomberg BusinessWeek reported on Tuesday. The social media giant paid around $350 million in stock for MoPub, in what would be its largest acquisition, according to the article.

Related article: Capitalizing on Social Media Financial Transactions

Extra capital requirements are being piled on top of the Basel III package of global regulations and it seems UK banks might need an extra £50bn, consultancy KPMG has announced.

Monday September 2
In the UK, Banks face up to £10 billion to resolve mis-selling claims linked to commercial real estate projects, the Daily Telegraph reported on Monday.

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

Tags: finance and business news , India , real economy , Reserve Bank of India
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