30th June 2011
From the New York Times, while Greece took a step back from the brink on Wednesday, the possibility of a default remains a fear. Europe's debt crisis, as well as natural disasters and political uprisings, are prompting investors both big and small to seek out investments that promise to protect their portfolios in the event of economic Armageddon.
The main topic of conversation is Greece, on the Independent, a public backlash against Greek austerity measures is set to continue today as MPs in Athens vote on law reforms to activate yesterday's deal on tax rises, pay cuts and 150,000 public sector redundancies.
The Telegraph is reporting about Myspace, music star and actor Justin Timberlake has teamed up with a US advertising agency to buy Myspace for $35m (£22m) – just 6pc of the amount Rupert Murdoch's News Corp paid for the business.
The Guardian is also discussing News Corp, Jeremy Hunt has confirmed that he plans to give News Corporation's BSkyB takeover the green light, after nearly four months of negotiations between the culture secretary, Rupert Murdoch's media company and regulators over spinning off Sky News.
From the Telegraph, a group of established retailers, including Debenhams and Sir Philip Green's Arcadia Group, is facing the possibility of a class action lawsuit from current and previous shareholders.
The BBC is reporting, the London and Toronto stock exchanges have scrapped plans for a C$3.6bn (£2.3bn) merger because it was unlikely to win enough shareholder votes.
The Financial Times is discussing how the shares are looking after the merger collapse, the London Stock Exchange's shares jumped over 3 per cent on Thursday as investors appeared to be expecting the UK bourse to become a bid target after the failure of its planned merger with Canada's TMX Group.
Also from the Financial Times, UK house prices were flat in June and up modestly for the second quarter, but over the past year prices have edged down, according to a closely watched index.
Reuters is discussing the strikes happening today in the UK, thousands of teachers and civil servants went on strike on Thursday over plans to reform public sector pensions, launching what could be extended action testing government resolve to drive through austerity measures.
On the Wall Street Journal, Turkey's economy again accelerated more rapidly than expected in the first quarter, underlining the emerging economy's strong growth momentum but feeding fears that policy makers are failing to curb rampant domestic demand that could lead to the economy overheating.
From This is Money, Lloyds announced that 15,000 jobs will be axed over the next three years to save £1.5billion a year.
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