28th June 2011
From the Independent, in an updated and expanded version of the four horsemen of the apocalypse, the Organisation for Economic Co-operation and Development (OECD) has identified five "global shocks" that will destabilise the world economy with increasing frequency in coming years. Rather than the traditional perils of conquest, war, famine and death, the OECD identifies viral pandemics, cyber attacks, financial crises, socio-economic unrest and geomagnetic storms as the five "global shocks" that will have to be endured.
Today the Telegraph are discussing Greece, French president Nicolas Sarkozy has struck a deal with his country's banks to restructure their holdings of Greek debt.
Also from the Telegraph, Adam Posen, the resident dove on the Bank of England's Monetary Policy Committee (MPC), has hit back at criticism from the world's central bank of Britain's soft interest rate policy by labelling its analysis "nonsense".
The New York Times is reporting, Microsoft is also jumping on the cloud bandwagon.
Thorntons is the most recent woe on the high street according to the Guardian, as more than 10,000 jobs are now at risk across the UK retail sector as Thorntons announced the closure of up to 180 stores, threatening around 1,000 jobs.
This is Money is also reporting on high street chains, Thousands more high street jobs are under threat as discount department store chain TJ Hughes teeters on the brink of collapse.
The Guardian is also discussing repossessions, Britain is facing a 'tsunami' of house repossessions as soon as interest rates start to rise, warns Richard Banks, the chief executive of UK Asset Resolution (UKAR) one of the country's leading bankers.
Today in the Financial Times, how the UK might be damaging their relationship with China, Wen Jiabao, China's premier, has sharply rebuked the UK government of David Cameron over its criticisms of China's lack of human rights, warning that the London should stop its "finger-pointing" at Beijing.
From This is Money, a green ‘stealth' tax to encourage new wind farms and nuclear power plants could push tens of thousands of households into fuel poverty but do nothing to reduce emissions.