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QFINANCE: financial news roundup (February 28 - March 6, 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.

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 March 6

Global shares rose considerably on Thursday morning, Reuters reported, with continued efforts to contain the Ukraine crisis and expectations that the European Central Bank will ease its monetary policy later today.

Related article: The EU looks like winning the unequal tug of war over Ukraine

The UK Financial Conduct Authority (FCA) has set new rules regarding crowd-funding and peer-to-peer (P2P) lending, the BBC reported, which instruct entrepreneurs to give clearer information about their projects. Using platforms such as Kickstarter, Indiegogo or RocketHub, the P2P lending industry has raised around £5.7m for new businesses in the UK during the first two months of this year.

Wednesday March 5

The US government announced that it would consider placing banking sanctions on selected Russian financial institutions if the country sent troops into eastern Ukraine, Bloomberg reported.

Related article: Where does Wikileaks’ description of Russia as a “Mafia state” leave the Russian economy?

February has seen deflation hit 1.4% in the UK with food price inflation also at a seven-year low, the Guardian reported.

Tuesday March 4

BP has lost its appeal to reduce payments to alleged victims of the 2010 Gulf of Mexico, with courts saying it must restart payments from its $9.2bn compensation fund, the Telegraph reported.

Related article: BP disaster shows that environmental and social risks are also financial risks

A Bitcoin trade body has asked the UK Financial Conduct Authority (FCA) to clarify its position on the digital currency, as the taxman prepares to classify Bitcoin as a foreign currency, the Guardian reported.

Monday March 3

Russia’s threats on Crimea may strongly affect food prices in the UK, being one of Ukraine’s main export routes for millions of tons of grain annually, the Telegraph reported.

Related article: The unintended consequences of globalization

The UK housing market rise is spreading beyond London with property prices up for more than half of England and Wales, the Guardian reported. This is happening for the first time in more than a decade with a 0.7% average rise in January.

Friday February 28

In Spain, the government has started to sell some of its 68% holding in Bankia, one of the biggest casualties of the crisis, with an initial offer to investors of a 7.5% stake, the Telegraph reported.

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

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Tags: banking , central banks , China , EU , European Central Bank , financial crisis , Putin , Russia , Spain , UK , Ukraine , US economy , USA
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