17th June 2011
The Financial Times is reporting this morning on Greece's reshuffling, George Papandreou, prime minister of Greece, has replaced his finance minister in a broad cabinet reshuffle to counter widespread anger over tough new austerity measures essential to prevent Greece from a disastrous default. Former defence minister Evangelos Venizelos, who challenged Mr Papandreou for the party leadership four years ago, will become finance minister, replacing George Papaconstantinou, who takes over the energy portfolio.
The stock market isn't fairing well amid Greece's woes, from This is Money, The stock market has sunk into the red again amid fears the Greek economic crisis will prove to be a 'Lehman moment' for the eurozone, triggering a fresh meltdown.
Reuters is discussing how it is affecting oil prices, Crude oil futures fell by more than $2 on Friday as the Greek debt crisis raised risk aversion, putting oil on course for a 5 percent drop this week in the biggest fall since early May.
From the Guardian, Erik Fairbairn has made an odd career choice. After setting up a club for petrolheads to rent out supercars such as Ferraris and Lamborghinis, the youthful entrepreneur has founded Britain's fastest-growing supplier of charging points for electric cars.
Also from the Guardian, The mighty Botín banking family, which runs the Santander bank, the biggest in the eurozone, has been placed under investigation for tax fraud by Spain's national court because of money held in a Swiss bank.
On the BBC News, Fashion house Prada has raised $2.1bn (£1.3bn) via its initial public offering on the Hong Kong stock exchange.
Also from the BBC News, Gazumping is pushing up rents in England and Wales as the average cost to tenants reached £696 in May, according to a survey.
From the Financial Times, Shares in Research in Motion plunged more than 15 per cent after the BlackBerry maker again slashed its earnings outlook due to product delays and falling market share in the US.
The Independent are looking at pensions, public sector employees will be told today that most of them will have to work six years longer than expected before they qualify for pensions.