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Home > Blogs > QFINANCE Editor > QFINANCE: financial news roundup (June 27 - July 3, 2014)

QFINANCE: financial news roundup (June 27 - July 3, 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 July 3

India has been advised to avoid fiscal slippage as it works to revive its economy, reported the Straits Times. The World Bank’s India director Onno Ruhl said it was “important to underline that [inflation] is a long-term threat to the economy”, but “wouldn’t advise higher deficits”. India’s wholesale price inflation is at a five-month high and retail inflation remains above eight per cent.

Related article: The Case for India

Bombay Stock Exchange (BSE), India’s main stock market, was forced to resume trading on Thursday morning due to a technical glitch, reported the Economic Times. Shares listings stopped updating for nearly three hours, before trading could be resumed.

Wednesday July 2

Federal Reserve Chair Janet Yellen said there was no need for any change in the country’s current monetary policy, reported Bloomberg. Speaking at the International Monetary Fund in Washington, Yellen said that monetary policy “faces significant limitations as a tool to promote financial stability”, but noted “pockets of increased risk-taking” in the financial system.

Related article: Quantitative Easing and the Yield on the Ten Year Gilt

Despite new positive data published on the US job market, stock indexes on Wall Street were little changed, Reuters reported, with the Dow hovering just below 17,000.

Tuesday July 1

A large number of BNP Paribas bankers are facing devaluation and cuts to their bonuses as part of the record $8.8 billion fine from the US authorities, the Guardian reported. The fine follows charges that the bank hid $30bn in transactions that violated the country’s sanctions against countries like Iran and Sudan.

Related article: Dollar, Gold and Gasoline: Much Ado About Nothing

The UK’s biggest airport Heathrow is planning to increase landing fees, Reuters reported, by as much as 20%, to secure a return on a £17 billion investment in a third runway.

Monday June 30

The Bank for International Settlements (BIS) has warned that very low interest rates have reassured governments and markets "into a false sense of security," the BBC reported, increasing demand for higher risk investments. Policy makers are being urged to start normalizing rates.

Related article: Interest Rate Risk

Global mergers and acquisitions have reached their largest peak since 2007, hitting $1.75 trillion in the first six months of the year, the FT reported, a 75% rise on the same period last year. The peak marks an [influx] of corporate deals which, with companies looking to exploit strong stock prices and ample cash reserves, could last for several months.

Friday June 27

Barclays bank has reported its lowest share levels in 18 months following allegations that the bank cheated and defrauded customers trading in its “dark pool”, the Guardian reported. The shares were the biggest fallers in the FTSE 100, losing £2.4bn of its value.

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

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