19th August 2011
From the Wall Street Journal, Pope Visits Spain, Says Ethics Should Guide Economies
How the markets are looking this morning?
From the Telegraph, the FTSE was last trading at 4,995, down 3% on yesterday's close.
And from This is Money, gold has hit a new record above $1,860 as investors reach for the safety of bullion amid a worsening economic outlook for the United States and concern about the health of Europe's banks.
"Psychological scarring" in the wake of the financial crisis and a growing reluctance to take risks in financial markets can lead to over-pessimism and threatens to delay the economic recovery, a top Bank of England official has warned, reports the Guardian.
More bad news, in the Telegraph, British bank shares fell to their lowest levels in more than two years yesterday amid fears of a new funding crisis, raising the prospect that authorities may ban short-selling.
And in the Eurozone, Reuters reports, Spain will announce further austerity measures on Friday in a bid to fend off debt market attacks but avoid the kind of drastic cuts that could damage the ruling Socialists' chances in November's general election.
An influential committee of MPs launched a stinging attack on the private finance initiative (PFI) yesterday and claimed it offered taxpayers "poor value for money", from the Independent.
Deals are being made, reports the Financial Times, shares in Autonomy soared after Hewlett-Packard announced an $11bn (£6.7bn) deal to buy the UK's largest software company in the latest takeover of a FTSE 100 company by a foreign acquirer.
From the BBC News, private rents in England and Wales rose to an average £705 per month in July, according to a survey by LSL Property Services, a firm of letting agents.
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