Primary navigation:

QFINANCE Quick Links
QFINANCE Topics
QFINANCE Reference

Home > Blogs > QFINANCE Editor > QFINANCE: financial news roundup (7 - 13 February, 2014)

QFINANCE: financial news roundup (7 - 13 February, 2014)

Facebook LinkedIn Twitter


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 13 February


Mining giant Rio Tinto has increased its dividend after higher iron ore prices and cost-cutting helped return the firm to profit, the BBC report. Annual payout to shareholders will increase by 15% to $1.92 per share.

Related sector: Mining

Unemployment in Greece has reached a record high of 28% the BBC reported. Newly released government figures have shown that the jobless rate for those under 25 is as high as 61.4%.



Wednesday 12 February


The US Federal Reserve’s newly appointed Chairman Janet Yellen confirmed plans to continue “tapering” its quantitative easing program, the Independent reported. She said that the country’s monetary policy would only be affected by a domestic slowdown.

Related article: The Fed's Surprise and Yellen's Challenge

British bank Barclays has announced serious job cuts, the Daily Telegraph reported. The group is planning to cut 820 managing director and director-level staff.



Tuesday 11 February


The 2008 dispute over online lender Icesave has been reignited by British and Dutch authorities, Reuters reported.  The two countries have filed a claim of $4.85 billion, plus interest and costs against Iceland's deposit insurance fund, over money their savers lost in Icesave funds.

Related article: Iceland makes a drama out of its crisis

Bloomberg’s worldwide financial market revenues have boomed in the past year, rising from $7.9 billion to $8.2 billion, the Independent reported, while revenues for competitor Thomson Reuters dropped from $7.5 billion to $7 billion.



Monday 10 February


China’s Development Bank is asking some international clients to postpone drawing down previously committed credit lines, the FT revealed last Monday. The news, also reported by FXstreet, highlights how strains on the country’s financial system “are reverberating abroad”.

Related article: Global Ambitions—China’s Big Banks

Although 2013 wasn’t a great year for most hedge funds, George Soros’s Quantum Endowment fund had its second-best year ever in dollar terms, adding $5.5 billion to the billionaire’s fortune, Quartz reported.



Friday 7 February


The US government announced that 113,000 jobs were created last month, the New York Times reported, in its second straight month of anemic growth. However, January’s unemployment rate dropped down to 6.6%, the lowest level since October 2008.



Event of the Week


2nd Annual Stress Testing USA 2014 – March 25 - 26, Marriott Downtown New York City What lessons have been learned from CCAR compliance so far and what is still to come? How can you stress test legal entities to comply with multiple regulators globally, regionally and nationally? How can you implement an enterprise-wide stress testing framework? How can you create value and inform actionable strategies through stress testing?

Join 150+ senior risk professionals and hear from 20+ Heads of Risk and Stress Testing from the leading FIs discussing the critical challenges being faced with stress testing. Quote coupon code QFS14 for 15% discount.
CFP Events: info@cfp-events.com or +44 (0) 845 680 5172

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


Facebook LinkedIn Twitter

Tags: banking , China , economic recovery , European Central Bank , financial crisis , regulation , UK , US , US economy
  • Bookmark and Share
  • Mail to a friend

Comments

or register to post your comments.

Back to QFINANCE Blogs

Share this page

  • Facebook
  • Twitter
  • LinkedIn
  • RSS
  • Bookmark and Share

Blog Contributors