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Home > Blogs > QFINANCE Editor > QFINANCE: financial news roundup (July 11 - 17, 2014)

QFINANCE: financial news roundup (July 11 - 17, 2014)

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Each week QFINANCE.com 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 qfinancenews@bloomsbury.com


Thursday July 17


The US has imposed strong sanctions on Russia, Reuters reported, following Moscow's failure to control violence in Ukraine. President Obama has targeted companies closest to Putin, including Russia’s largest oil producers Rosneft and Novatek, and its third largest bank Gazprombank.

Related article: Ukraine geo-politics illustrates continuing emerging market fragility

In what is described as the “world’s biggest corporate debtload”, China could be facing its second default in onshore bond market, Bloomberg reported. The threat comes after construction firm Huatong Road & Bridge Co. announced it may miss a 400 million yuan ($64.5 million) payment due on July 23.








Wednesday July 16


The Bank for International Settlements’ (BIS’) call to raise interest rates faster in the UK has been rejected by governor of the Bank of England Mark Carney, the Telegraph reported. Carney said the recommendation was "outside political and economic reality".

Related key concept: Interest Rate Risk

Goldman Sachs and JP Morgan have reported better-than-expected earnings for the second quarter of this year, the Guardian reported. This is despite a slowdown in the economy and poor trading conditions on Wall Street.








Tuesday July 15


The eurozone is still at risk of deflation, the International Monetary Fund (IMF) has warned. As recovery is slow and financial markets fragmented, the IMF has urged the bloc to repair bank balance sheets and step up reforms to boost employment, the Guardian reported.

Related article: The Tragedy of the Euro

Food giant Nestlé has called the world’s water scarcity “more urgent” than climate change, the Independent reported. The comments come as the company is criticized for drawing water from drought-ridden areas of California to sell under its Arrowhead and Pure Life bottled water brands.








Monday July 14


In the US, prosecutors from the Department of Justice are offering immunity deals to junior Forex traders in London, as they continue to investigate the alleged rigging of foreign exchange rates by banks and senior traders, the Financial Times reported.

Related checklist: The Foreign Exchange Market: Its Structure and Function








Friday July 11


Global stock markets were shaken last week on fears that the suspension of shares in Portugal's third largest bank Banco Espírito Santo could lead to a run on the eurozone's debt-ridden banking sector, the Guardian reported.

Related article: No quick fix for the eurozone

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








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