12th August 2011
From Reuters, gold, and only gold, will be our salvation when the value of companies, banks, countries and even money itself melts away. Gold, not shifting currencies, is the foundation of wealth and security. Gold is back, for good.
The top story around the finance pages today is, a ban on short-selling of financial sector shares failed to put a lid on concerns over banks and the spread of the euro zone's debt crisis to France, from Reuters.
This is Money is reporting on how the UK stock markets have reacted to the news, the London stock market opened positively this morning after several European countries announced moves to calm volatility in share trading.
However, elsewhere in Europe it hasn't been so positive, from the BBC News, European stocks slipped at the open as the latest move to restore market order – a ban on short-selling of some financial shares – takes effect.
From the New York Times, consumers can expect to see a jump in prices for pasta, meat, vegetable oil and many other grocery items in the coming months as a pair of new government reports forecast on Thursday that a brutal mixture of heat, drought or flooding has taken a toll on the corn, soybeans and wheat grown on American farms.
Sales and profits at UK newspaper group Trinity Mirror have continued their decline in the first half of the year, reports the BBC News.
According to the Independent, growing numbers of senior Conservatives are concerned about the ability of the Chancellor to deliver the Coalition's pledge of eliminating Britain's structural deficit by 2015.
The Wall Street Journal is reporting, data released Friday showed the French economy failed to grow in the second quarter from the first as consumers sharply cut spending, complicating government plans to reduce its deficit as financial markets question France's prized triple-A credit rating.
Britain will become increasingly dependent on its maritime industries as globalisation drives a six-fold rise over the next 20 years in the value of UK international trade, a new study shows, in the Telegraph.
The Guardian is discussing the aftermath of the riots, the chief executive of Jaguar Land Rover has added his voice to business concerns over the London riots amid fears that the images of Britain flashed across the world this week could damage confidence for inward investors.
From the Financial Times, business leaders' confidence in their industries and the global economy deteriorated sharply in the months preceding the latest market turmoil, according to the FT/Economist Global Business Barometer.
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