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Home > Blogs > QFINANCE Editor > QFINANCE: financial news roundup (September 26 – October 3, 2013)

QFINANCE: financial news roundup (September 26 – October 3, 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

Thursday October 3

Head of the IMF Christine Lagarde warned the US must solve their debt crisis, the BBC reported, as failure to the raise debt ceiling is a “far worse threat to global economy than current government shutdown”.

Related article: US economy, signs of hope?

In the UK, the housing market is as high as ever in the past three year, the Telegraph reported. This raises fears of an emerging house price bubble, according to the reports.

Wednesday October 2

A series of measures are being put in place to clean up the City, the Guardian reported. Following a new   government initiative, senior bankers could face up to seven years in jail if they are found guilty of misconduct.

Related article: Cry for banking reform as policymakers drive economies into a cul-de-sac

In the UK, Chancellor George Osborne declared austerity might continue until 2020, the Guardian reported. Further welfare cuts are expected to create a budget surplus by the end of next parliament.

Tuesday October 1

Germany saw an unexpected and considerable rise of unemployment, the BBC reported. The German government said this was partially due to a reduction in government job schemes.

Related article: What if Germany was forced out of the euro?

Hedge funds are expecting a bull run for equities, the FT reported. Newly published data from Markit suggested the overall positions on European and US shares have dropped at the lowest level since 2006.

Monday September 30

In the UK, Giant Google has paid only £11.6 million in tax for 2012 with revenues as high as £506 million, the Daily Telegraph reported.

Related article: Taxing questions for multinationals

EDF Energy has avoided strikes in Britain by giving 3,000 of its workers a 2.5% pay rise and lump sum bonus, the Independent reported. “By moving on from the below-inflation 2 per cent offer EDF had avoided an industrial dispute,” said a source close to the group.

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

Tags: banking , central banks , economic recovery , European Central Bank , European Monetary Union , GDP growth , inflation , International Monetary Fund , regulation , sovereign debt , UK , US , US economy
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