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Home > Blogs > QFINANCE Editor > QFINANCE: financial news roundup (October 21 – 24, 2013)

QFINANCE: financial news roundup (October 21 – 24, 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

Thursday October 24

Banks in the eurozone are very likely to strengthen their finances following the European Central Bank’s announcement to scrutinize their financial health soon, Bloomberg reported. “All the banks will be stressed, so all the banks have similar incentives to look better,”an analyst with Keefe, Bruyette & Woods told the media.

Related article: A European Stabilization Bank?

Spain has emerged from recession, the BBC reported, according to newly published figures from the country’s central bank. Spanish GDP grew by 0.1% since July, the bank said.

Wednesday October 23

Although the US reached an agreement to raise the debt ceiling last week, the agreement is “only a short reprieve”, the Huffington Post reported. Rating agency Fitch already warned the US last Tuesday of a potential downgrade.

Related article: How to Use Credit Rating Agencies

Britain’s largest mobile operator EE is preparing an IPO as owners plan to float the £10billion business in London in the first half of next year, the Daily Telegraph reported.

Tuesday October 22

Real estate in Germany’s largest cities could be overvalued by nearly 20%, the Bundesbank has warned. The announcement raised concerns about a real estate boom, the FT reported.

Related article: Sector profile- Real Estate

UK PM David Cameron has welcomed an agreement with France and China to build the country’s first new nuclear power plant, the Guardian reported. This move will boost the UK’s energy security and could lower power bills significantly.

Monday October 21

The first bond supported by home rental income only is likely to join the market soon, the FT reported. The move will involve securing a credit rating to ensure that the deal is more attractive to debt investors.

Related article: Raising Capital by Issuing Bonds

In Brazil, the government’s decision to auction off exploration rights for a huge oil field has caused clashes in Barra da Tijuca, near Rio de Janeiro. Brazilian unions accused the government of "selling off" the country's riches, the BBC reported.

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

Tags: Barra da Tijuca , bonds , Brazil , China , ECB , Economy Spain , energy security , European Central Bank , eurozone , Fitch , France , Germany , IPO , nuclear power , real estate , recession , rental income , Rio de Janeiro , US debt ceiling
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