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Home > Blogs > QFINANCE Editor > QFINANCE: financial news roundup (November 22 - 28, 2013)

QFINANCE: financial news roundup (November 22 - 28, 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 November 28

In the UK, the Bank of England is fighting the risk of a housing bubble with an announcement it would wind down the scheme to boost mortgage lending, Reuters reported.

Related article: Bubbles in the Broth

Brazil’s central bank has increased the benchmark interest rate to 10% from 9.5% for the sixth time in a row as it battles inflation, the BBC reported.

Wednesday November 27

In the US, the largest banks might have to spend an additional $104 billion to resolve mortgage-related legal issues, the FT reported.

Related article: Bill to banks for past misdeeds reaches eye-watering proportions

Ukraine has abandoned an integration pact with the EU previously taken by its President Viktor Yanukovych, Prime Minister Mykola Azarov announced. He said, “The Russian government made it clear to us that signing of an agreement [with the EU] means it would be subsequently impossible to discuss trade and economic relations [with Russia]”, the Guardian reported.

Tuesday November 26

Six energy companies in the UK have pulled the plug on one of the world’s largest offshore wind farms, Green Wise reported. Britain’s green ambitions have suffered from the move, as this threatens the multi-billion pound investments needed to meet emissions targets.

Related article: Challenges in Global Energy and their Potential Impact on the Cost of Energy

The new German coalition government has promised Europe more “tough love”, CNN reported. Germany says it will only stand by the eurozone’s weakest members, as it has in the past, if they stick with painful austerity and structural reforms.

Monday November 25

Greek banks have enough bailout funds on hand to cope with any extra capital needs from bad loans, City AM reported. The EU and the IMF have so far spent about €40bn (£33.32bn) to bail out the country’s banks as part of its €240bn rescue.

Related article: The wider consequences of Greece’s tragedy

In Japan, the government has launched a “Cool Japan Fund” to boost its products abroad, City AM reported. Products such as food, drink and fashion will be showcased as part of the program.

Friday November 22

A California jury found electronics giant Samsung guilty of breaching Apple’s patents last week, and ordered them to pay a fine of $290, the Guardian reported.

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

Tags: banking , central banks , China , economic recovery , eurozone , financial crisis , Greece , regulation , UK , US , US economy
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