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Home > Blogs > QFINANCE Editor > QFINANCE: financial news roundup (May 30 – June 5, 2014)

QFINANCE: financial news roundup (May 30 – June 5, 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 June 5

The European Central Bank (ECB) has cut its interest rate to 0.15%, down from its previous record low of 0.25%. The BBC said that the move should help to incentivize banks to lend to businesses, thereby stimulating growth.

Related article: A New Model for New Europe

Inflation in the Philippines reached 4.5% in May, up from 4.1% in April and 2.6% a year earlier. The Straits Times reported that this marks a two-and-a-half year high for the region, thought to be helped by soaring food prices and utility costs.

Wednesday June 4

Services in the eurozone have improved at their strongest pace in almost three years, Bloomberg reported. This is expected to help job creation in the region.

Related article: Cementing Europe’s Recovery

Reuters reported that “India (is) likely to ease restrictions for foreign online retailers next month.” Four people “privy to discussions within the government” leaked the information.

Tuesday June 3

Internet powerhouse Google continues its conquest of the sky with new plans to spend $1 billion on 180 satellites to help hundreds of millions of people get online, the Daily Telegraph reported.

Related article: Google in China—A thorny lesson unfolds

In a move to fight climate change, the Obama administration launched a plan to regulate greenhouse gas emissions from power stations. The FT described it as “the most ambitious plan to combat climate change in US history”.

Monday June 2

China is exploring bond buying and other assets to support key sectors of the economy. The Daily Telegraph described this as the “first hint of QE”, as money supply weakens and debts accumulate.

Related article: China edges closer to reserve currency status

Spain plans to cut taxes and launch a stimulus package of €6.3 billion in efforts to bolster the country’s economy, the FT reported.

Friday May 30

For the first time in history, Britain will add illegal drugs and prostitution to its official national accounts, in an attempt to measure illegal activity. The FT reported that “prostitutes and drug dealers are set to give Britain a £10bn boost”.

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