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Home > Blogs > QFINANCE Editor > QFINANCE: financial news roundup (June 13 – 19, 2014)

QFINANCE: financial news roundup (June 13 – 19, 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 19

Amazon’s unveiled its first handset today, the Fire Phone, which offers 3D visuals and gesture controls. Chief executive Jeff Bezos announced the release of the phone at a press event in Seattle, reported the BBC.

Related article: Transformational technology - 3D printing changes the game

The US Federal Reserve cut its 2014 growth forecast after this year’s harsh winter slowed economic activity. Reuters reported that the central bank is now predicting growth of between 2.1% and 2.3%, down from its March forecast of between 2.8% and 3%.

Wednesday June 18

The Bank of England’s governor Mark Carney said that banks could "take further proportionate and graduated action" to cool the housing market, the Daily Telegraph reported, amid growing fears of a housing bubble.

Related article: The Role of the Global Property Markets Since the Crash

UK inflation dropped to its “lowest level in almost five years”, the Guardian reported, as a drop in air fares benefited shoppers and travelers.

Tuesday June 17

Violence in Iraq is a serious threat to oil prices, the Independent reported. BP’s chief economist warned we might be witnessing the “end to the greatest period of price stability for nearly half a century.”

Related article: Crude Oil and Iran: Who Blinks First?

The International Money Fund (IMF) has also cut its growth forecast of the US economy to 2%, the Independent reported, warning that the Federal Reserve could leave its policy interest rates at zero “for longer than markets are expecting”.

Monday June 16

China’s Premier Li Keqiang visited the UK this week to build on their “indispensable partnership”, the Telegraph reported, signing £14bn in trade deals to back major UK infrastructure projects.

Related article: China edges closer to reserve currency status

Changes to the International Monetary Fund (IMF) are being discussed and could possibly affect countries in difficulty, the FT reported. Countries seeking the IMF’s help could be required to extend maturities on their sovereign debt.

Friday June 13

China’s housing decline is raising fears for the country’s economy, Associated Press reported. “Investors who own multiple apartments often leave them vacant while they wait for prices to rise,” according to the report.

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

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