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Home > Blogs > QFINANCE Editor > QFINANCE: financial news roundup (November 1 – 7, 2013)

QFINANCE: financial news roundup (November 1 – 7, 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 November 7

India will keep a negative outlook from rating agency S&P, Economic Times reported. "These strengths are counterbalanced by significant weaknesses, which include an onerous burden from its public finance, lack of progress on structural reforms, and shortfalls in basic services” the rating agency said.

Related article: How to use credit rating agencies

“China will keep economic growth steady while forging ahead with reforms” says Premier Li Keqiang, Reuters reported.

Wednesday November 6

Six global banks, including JP Morgan, HSBC and Deutsche Bank, are likely to be fined by EU competition regulators, The Guardian reported, over the rigging of benchmark rates in the eurozone.

Related article: No Quick Fix for the Eurozone

Germany was warned it could face disciplinary action, the Daily Telegraph reported. The EU Commission insisted on excess trade surpluses “at the expense of EU partners”.

Tuesday November 5

Social media giant Twitter raised the asking price of its stock by 25% early this week, The Guardian reported. The group is now looking at a market share of $13.6 billion.

Related article: Every company is a media company

Growth will pick up in the UK, the Guardian reported, but the economy will remain “over-dependent on squeezed consumers”. The National Institute of Economic and Social Research published new figures forecasting growth at 1.4% this year and 2% next year.

Monday November 4

Following discoveries of mass surveillance and espionage by the United States, Germany is pushing for tougher data protection controls as part of the proposed EU-US free trade pact, the FT Adviser reported.

Related article: In Data We Trust

Crowd funding is growing considerably as £22.5 million was raised in the year that the largest platform Kickstarter opened to UK projects, the Independent reported. After opening to UK projects a year ago, “within a week, 171 projects had 15,000 pledges from backers”, according to the article.

Friday November 1

Nine banks, including Royal Bank of Scotland and Barclays, are being sued for $800 million by Fannie Mae over the implication that they attempted to manipulate global borrowing rates, the Daily Telegraph reported.

Related article: Fannie Mae and Freddie Mac

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

Tags: Barclays , China , data protection , Deutsche Bank , Economic Times , EU , EU Commission , eurozone , Fannie Mae , free trade , Germany , HSBC , India , JP Morgan , National Institute for Economic and Social Research , Reuters , Royal Bank of Scotland , Standard & Poor's , trade surpluses , twitter , UK
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