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Home > Blogs > QFINANCE Editor > QFINANCE: financial news roundup (July 4 - 10, 2014)

QFINANCE: financial news roundup (July 4 - 10, 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.

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 July 10

India’s new government has revealed its reformed “budget for growth”, reported Channel News Asia, aimed at creating jobs and reversing two years of economic slowdown. New regulations will remove some caps on foreign investment and tighten borrowing limits.

Related article: Modi’s neoliberalism may come as a shock to India

Minutes from the Federal Reserve’s June meeting have revealed plans to end the central bank’s monetary easing program in October, the BBC reported. The decision should be made if US economic growth continues at its current pace.

Wednesday July 9

Global markets are witnessing a big sell-off in technology stocks, Bloomberg reported, signaling an end to months of calm in the equity market, and a return to volatility.

Related definition: Technology stock

Speculations that the Bank of Japan will soon cut its economic growth forecast for this year suggest that the slump in household spending after April’s sales tax rise was bigger than expected, Reuters reported. Nevertheless, upbeat price projections will remain and a steady recovery is still expected.

Tuesday July 8

The European Central Bank (ECB) is under pressure to take measures against the “crazy strength” of the euro, MarketWatch reported. Initiatives are set to be introduced to counter disinflationary pressures, increase the supply of credit, and weaken the euro to increase European exporters’ competitiveness.

Related article: Greek economy picks up but danger still lurks

In the UK, the British Chamber of Commerce is calling on the Bank of England “not to rush into an interest rate rise” as the recovery is still ongoing and recent reports have shown a slip in key performance measures, such as a slowdown in exports, the Guardian reported.

Monday July 7

Goldman Sachs is planning to expand on the European wealth management market, the FT reported, as the bank seeks to diversify away from investment banking. The bank will soon be launching a European lending unit for its private clients, directly competing with several private banks that have traditionally dominated this space.

Related article: Goldman Sachs & The European Crisis

Burberry faces accusations from its investors over a multi-million- pound “golden handcuffs” retention award agreed for its new chief executive Christopher Bailey, the Daily Express reported. The Investment Management Association has asked for this deal to be scrutinized ahead of Burberry’s annual meeting on Friday.

Friday July 4

The US unemployment rate dropped to 6.1% last month, the FT reported, raising hopes that the country’s economy is “gaining momentum” enough to increase interest rates sooner than expected.

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

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