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Home > Blogs > QFINANCE Editor > QFINANCE: financial news roundup (October 4 – 10, 2013)

QFINANCE: financial news roundup (October 4 – 10, 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

Thursday October 10


Budget talks in the US raised the dollar this morning, and European stocks started picking up. Gains were limited though, Reuters reported, as the general feeling is that the solutions discussed would be temporary.

Related article: Five Years in Limbo, Joseph Stiglitz

The European Central Bank is believed to be unveiling new liquidity measures and economists think the move will be “non-standard”, Bloomberg reported. This will include longer-term refinancing operations, as interest rates will probably remain unchanged through the first half of 2015.



Wednesday October 9


The IMF has revised up the UK growth forecast considerably as the outlook was upgraded to 1.4% this year, more than other leading economies. The Telegraph called the move an “embarrassing u-turn” following the institution’s strong criticism of Osborne’s austerity drive in April.

Related article: Austerity under the microscope

The saga of corporate tax evasion goes on in the UK as giant Facebook was reported to have paid no corporation tax in Britain last year, the Guardian reported. This is despite the group taking an estimated £223 million shares of the digital advertising market, the article reported.



Tuesday October 8


Former World Bank president, Robert Zoellick, has joined Goldman Sachs as chairman, the BBC reported. Investment bank giant announced Zoellick will join the international advisory board and advise the firm on "global strategic issues".

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

Greece is expected to finally emerge from six years of recession, the Guardian reported. This was announced in a draft budget, which suggests the country is past the worst of its terrible debt crisis.



Monday October 7


China and Japan have urged the US government to solve the debt ceiling issue as Chinese finance minister Zhu Guangyao warned that the “clock is ticking", the Guardian reported.

Related article: The legacy of the US debt ceiling spectacle will live on

In the UK, optimism amongst banks and financial firms is at its peak, the highest for 17 years, the BBC reported. Newly published data from CBI business lobby group have revealed that the balance of optimism, which is of 53%, is the highest since December 1996.

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

Tags: CBI , China , Economy Greece , European Central Bank , European stocks , Facebook , George Osborne , Goldman Sachs , IMF , Japan , recession , Robert Zoellick , UK optimism , US debt ceiling , World Bank , Zhu Guangyao
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