Mindful Money’s news round-up: Tuesday 7th June 2011

7th June 2011

Story of the day:

In the Telegraph, European Union plans to impose a green levy on all airlines could trigger an international trade war, Willie Walsh has warned.

IAG chief executive Willie Walsh: a European green tax could lead to a trade war

And the best of the rest:

From the Telegraph, British insurance consolidator Resolution is to return £500m of surplus cash to investors as it prioritises merging its existing assets rather than pursuing new takeovers.

Resolution to return £500m to investors

Also from the Telegraph, British banks' lenience to struggling customers may be disguising the dangers the institutions face, the International Monetary Fund warned as it delivered its latest verdict on the UK economy.

IMF warns on UK banks masking bad debts

In the Guardian, The $20bn valuation being talked about for such a young, loss-making company with heavyweight competitors is ridiculous.

Investors should ignore Groupon's fancy financial footwork

From the Guardian, Wealthy shoppers regularly write big cheques for Prada's python leather handbags and Miu Miu dresses, but the Italian fashion brand drew gasps on Monday when it hung a near £9bn price tag around its neck as it looks to sell shares to wealthy Asian investors.

Prada for sale on stock market with £9bn valuation

The Independent, Exchange Traded Funds, or ETFs, were meant to be cheap, transparent, and easy for investors to understand. But you can always count on financial tinkerers to turn something that is elegantly simple into something complicated – just because they can. The Chinese call this drawing legs on a snake, or, put another way, who would dream of painting a moustache on the Mona Lisa?

Check the legs on the snake before you invest in an ETF

In the BBC News, Increasing gas supply and demand for the fuel could set off a "golden age of gas", the International Energy Agency (IEA) said.

International Energy Agency says gas in golden age

From the Daily Mail, Shoppers face a 10 per cent rise in the cost of a new suit as wool prices soar, retailers have warned. Floods and droughts in Australia have left the world's biggest producer of wool struggling to keep up with demand, which has seen the cost more than double in a year.

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