21st September 2011
From the Financial Times, Lloyd's of London posted a pre-tax loss of £697m for the first half of 2011 after the specialist insurance market shouldered heavy losses from catastrophes in Japan, Australia and New Zealand.
The MPC's September minutes are out, from Reuters, the Bank of England stands ready to pump more money into the faltering economy, minutes to the BoE's Sept 7-8 meeting showed on Wednesday, flagging the chance of more asset purchases as soon as October.
Bad news from the IMF, in the Telegraph, bad policy decisions could condemn the US to a "lost decade", tip America and the eurozone back into recession, and lead to "stagnation" in the world's major economies, the International Monetary Fund (IMF) has warned.
Complex charges and misleading information means UK holidaymakers are paying too much for foreign currency, a watchdog has said, from the BBC News.
More from the eurozone on the Guardian, a full mission of international inspectors is set to return to Greece early next week, after progress was made between the mission heads and Greek officials, the European commission has said.
Nouriel Roubini has a solution for Greece, in Citywire, he believes Greek should default and abandon the euro if it wants to avoid a 'chaotic implosion'.
Interrative chart showing the extend of the problems in for the eurozone, also from the Guardian, the figures show the cost of insuring against a country defaulting on its five-year bonds, using a credit default swap (CDS). A CDS of 100 basis points (1%) means it cost €100,000 per year to insure €10m of a country's debt. In Greece's case, it costs €6m each year to insure €10m against default.
Commodities on the slowdown, from the Telegraph, Worries about the health of the world's developed economies mean commodities markets have deteriorated since the start of the year, Rio Tinto, the world's second biggest mining group, warned.
The Wall Street Journal is reporting, SABMiller PLC said Wednesday it has agreed to buy iconic Australian peer Foster's Group Ltd. for 9.9 billion Australian dollars in cash ($10.17 billion), as the global brewing giant bids ramps up its presence in mature world beer markets.
There is trouble in Toytown: Thomas the Tank Engine, Bob the Builder and Mr Tickle may be about to leave the country. The debt-laden businesses behind some of the biggest names in childrens' TV and books are selling off some of the nation's best-loved characters, from the Guardian.