18th August 2011
From Reuters, Absolute return funds could be turning into Europe's next investment mis-selling row.
Worries loom at state of the global economy:
From the Guardian, Morgan Stanley has warned that the global economy is teetering on the brink of a recession, and slashed its growth forecasts. Fears that the world is sliding into a double dip recession are weighing on global stock markets, which resumed their recent falls on Thursday.
While in the Telegraph, the Bank of England is more pessimistic now about the prospects for the UK economy than it was when the country was in recession.
No good news for the high street either according to the Independent, the struggle on the high street was underlined today as official figures revealed a greater-than-expected slowdown in retail sales.
From Reuters, France and Germany should abandon "economically illiterate" proposals for a tax on financial transactions because a tax could make markets more volatile rather than bring stability, a free market think tank said on Thursday.
And in the Telegraph how the UK will not be accepting these ‘financial tax' ideas lying down: The Government is prepared to scupper German and French plans to introduce a European tax on financial transactions.
The Wall Street Journal is writing about how the US is reacting to the eurozone turmoil, Federal and state regulators, signaling their growing worry that Europe's debt crisis could spill into the U.S. banking system, are intensifying their scrutiny of the U.S. arms of Europe's biggest banks, according to people familiar with the matter.
In contrast to the rest of the world, there appears to be some good news for Japan, in the BBC News, Japan's trade surplus has widened by more-than-expected in July, boosting optimism that the country's economy is continuing to recover.
And in the Wall Street Journal some good news for France, Standard & Poor's Corp. Thursday confirmed France's triple-A rating and stable outlook, dispelling investor fears that the top-notch rating of the euro zone's second-largest economy may be at risk.
Pensions news from This is Money, millions of workers could be duped into ditching their generous final salary pensions for cash bribes.