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Home > Blogs > QFINANCE Editor > QFINANCE: financial news roundup (January 3 - 9, 2014)

QFINANCE: financial news roundup (January 3 - 9, 2014)

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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.

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Thursday January 9
The Reserve Bank of India has eased its gold lending rules, meaning that non-banking finance companies (NBFCs) can now lend up to 75% of the value of gold, the BBC reported. The World Gold Council ranks India 11th in the global ranking for gold holdings by central banks.

Related article: Why India's love of gold has its down side

In an effort to enhance transparency, China’s major banks have been asked to publish data on 12 key indicators including off balance sheet assets, the BBC reported. This is in line with the Basel Committee rules on international banking regulations, which instruct that this data be published within in four months of the end of each financial year.

Wednesday January 8
A domestic energy revolution is underway in the US, Forbes reported, which already seems to have triggered a decline in the country’s fiscal deficit.

Related definition: What’s stopping the robust recovery?

Described by the Guardian as an attempt to “bypass” the new European Union rules on capping bankers’ bonuses, HSBC has announced plans to hand out multimillion pound share awards to 1,000 members of its to staff. Earlier this week, the Guardian reported that Barclays is also expected to offer additional shares to its top directors.

Tuesday January 7
UK’s GDP growth in the fourth quarter of 2013 could be as high as 0.9%, the British Chambers of Commerce’s (BCC) Quarterly Economic Survey (QES) revealed earlier this week. “It is a fantastic to start the New Year with a very positive quarterly survey”, Director General of the BCC, John Longworth said.

Related article: GDP: a "damn statistic" if there ever was one

Monday January 6
“India is producing almost as many medicines for the UK as those manufactured within Britain itself”, the FT reported earlier this week. Newly released figures revealed the growing influence of Asia in the global pharmaceuticals market.

Related sector profile: Healthcare and Pharmaceuticals

The EU will ease financial reforms so that large banks will not be forced to split their lending operations from risky trading, the FT announced on Monday. Digital Look suggested that the move will be “less costly and restrictive than first envisaged".

Friday January 3
The world’s rich are getting richer; Bloomberg’s Billionaire’s Index showed that the 300 richest people on the planet are $524 billion better off than they were this time last year. Bill Gates’ fortune has increased by $15.8 billion over 2013 alone, the Guardian reported.

Related article: Why you should care about Warren Buffett's Prostate

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

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Tags: America , bank , Barclays , Basel Committee on Banking Supervision , BCC , Bill Gates , Bloomberg Billionaire Index , bonus , British Chamber of Commerce , China , energy , EU , European Union , GDP , gold , healthcare , HSBC , India , John Langworth , oil , pharmaceuticals , QES , Quarterly Economic Survey , Reserve Bank of India , risk , trading , UK , US
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