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Home > Blogs > QFINANCE Editor > QFINANCE: financial news roundup (May 16 - 22 2014)

QFINANCE: financial news roundup (May 16 - 22 2014)

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 May 22

While the European Parliament elections are in full swing, business activity in the eurozone appears to have maintained its growth in May, the BBC reported.

Related article: An Agenda to Save the Euro

Estimates of UK’s growth were confirmed with the economy recording a 0.8% increase in the first three months of 2014, the BBC reported.

Wednesday May 21

The German financial watchdog revealed that it held “concrete evidence” that banks tried manipulating the €5.3 trillion a day foreign exchange markets, the FT reported, as Brussels charged three more over a rate-rigging cartel.

Related article: What if Germany were forced out of the euro?

If the upcoming referendum allows it, Scotland’s independence will cost more than £750 million to set up a tax system, an analysis by the body representing Scottish chartered accountants revealed.

Tuesday May 20

Pharmaceutical group AstraZeneca lost £6.75 billion of its share price value, the Independent reported, following its rejection of Pfizer’s £69 billion “final” takeover bid.

Related article: These Big Funds Had Happy Shareholders in 2011

After a decade of discussions, Russia's state-controlled Gazprom closed a large deal to supply gas to China “which could ease the impact of Western sanctions on the country,” CNBC reported. Gazprom has agreed to supply 38 billion cubic meters of gas to China annually for 30 years, according to Reuters, under a contract valued in excess of $400 billion.

Monday May 19

A top investors’ body in the UK has signaled that the global equity markets may be over-heating, the Telegraph reported, raising fears of a crash.

Related article: Investment Lessons from the Crash

After 563 million people cast their votes in the Indian elections, exit polls revealed a huge victory for Hindu nationalist Narendra Modi and the Bharatiya Janata party, the Guardian reported.

Friday May 18

Japanese economic growth rose in April to an annualized rate of 5.9%, with consumer spending shooting up before the sales tax increase, the FT reported.

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

Tags: banking , central banks , economic recovery , EU , euro , European Central Bank , European Monetary Union , eurozone , Japan , UK
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