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Home > Blogs > QFINANCE Editor > QFINANCE: financial news roundup (March 14– 20, 2014)

QFINANCE: financial news roundup (March 14– 20, 2014)

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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 March 20

Asian markets dropped quickly following hints from the US Federal Reserve that interest rates may be raised in 2015, the BBC reported. The Nikkei fell 1.65% and the Shanghai Composite dropped 1%.

Related article: Who's to blame for emerging market turmoil, and how serious is it?

China has moved one step further towards liberalizing its financial system. Reuters reported that foreign investors on the Shanghai stock exchange will now be allowed to invest in more products and own up to 30 percent in a single company.


Wednesday March 19

UK Chancellor George Osborne announced the new budget in light of the country’s improved 2014 growth forecast, which has increased to 2.7%. Personal tax allowance will be raised to 10,500 next year; and the rate threshold for 40% income tax rate will be raised to £41,865 in April, the BBC reported.

Related article: The UK Budget should involve the Monetary Policy Committee

EU lawmakers have reached a deal to create a single agency for handling euro-area lenders in crisis, Bloomberg reported. The European Central Bank had warned that “failure would be ‘close to suicide’.”


Tuesday March 18

Japanese bank Nomura said the number of ghost towns have spread considerably in China, raising concerns that the country might soon experience the biggest property default on record, the Telegraph reported.

Related article: Stability Proves Testing for China

New York has overtaken London as the leading financial center, the Independent reported, reflecting concerns that recent banking and market scandals have severely dented the City’s reputation.


Monday March 17

“Moscow is headed deeper into international isolation”, the FT reported, as the Crimean peninsula voted to rejoin Russia on Sunday by an overwhelming majority. The BBC reported that the EU and the US are imposing sanctions on Russian and Ukrainian individuals, and further economic action looks likely.

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

The European parliament is voting on a proposal to abolish roaming charges for using a mobile phone abroad from December 2015, the Guardian reported.


Friday March 14

India’s economy is expected to grow at 5.5% in Q4, announced the Prime Minister's Economic Advisory Council (PMEAC) chairman C. Rangarajan. This is based on higher agriculture output and a pickup in manufacturing activity, the Business Standard reported.













Event of the week


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


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Tags: Asian market , C Rangarajan , China , Crimea , EU , European Parliament , George Osborne , ghost town , India , Japan , mobile phone , Nikkei , Nomura , PMEAC , roaming , Russia , Shanghai Composite , tax , UK , UK Budget , Ukraine , US
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