Mindful Money’s news round-up: Monday 4th July 2011

4th July 2011

Story of the day:

From the Wall Street Journal, how the strategies used by elite athletes are very much the same employed by business leaders to compete at the very top.

Five Lessons Olympic Athletes Can Teach Business Leaders

And the best of the rest:

Today in the Telegraph, Greece must privatise assets on a scale similar to the sell-off of East German companies at the fall of the Berlin Wall to rebuild its finances, the chairman of the Eurogroup of finance ministers said on Sunday.

Greece must sell off assets East German-style

From the Financial Times on Greece, French and German banks' plan to roll over their holdings of Greek debt suffered a huge blow on Monday as Standard & Poor's, the credit rating agency, said the move would amount to a default.

S&P threatens Greece with default

Also in the Telegraph, Britain's desire to boost investment and competition in the energy sector will be threatened if German utility group RWE presses ahead with a £5bn sale of npower, MPs have warned.

RWE sale of npower 'threat to energy industry investment'

From the Guardian, Japanese scientists have discovered huge deposits of "rare earth" minerals, crucial for making electronics products such as smartphones, tablets such as the iPad and flat-screen TVs, on the floor of the Pacific Ocean around Hawaii – and they say they are easy to extract.

Japan discovers 'rare earth' minerals used for iPads


The Financial Times is reporting, the average cost of using smartphones and tablets when travelling in the European Union will be more than halved under new plans from Brussels that will delight customers but deliver a big blow to mobile operators.

Roaming data costs in Europe to fall

Today in the New York Times, Nestlé, the world's biggest food maker, is one of several companies in talks to acquire or form a partnership with the biggest Chinese confectioner, Hsu Fu Chi International.

Nestlé in Acquisition Talks With China's Biggest Confectioner

From the BBC News, despite numerous hacking problems, Sony has been ranked top in a survey of Asia's most valuable brands by the marketing magazine Campaign.

Sony ranks as Asia's top brand, says Campaign magazine

In the BBC News as well, Social care costs in England should be capped so people do not face losing their assets, a review has said.

Social care funding plan revealed

Reuters is discussing, Britain's construction industry lost some steam in June and firms were less optimistic about the outlook, a monthly survey among purchasing managers showed on Monday.

Construction industry loses some steam in June – CIPS

Also from Reuters today, Britons injected 5.832 billion pounds of equity into their homes in the first three months of this year, the smallest injection in a year, Bank of England data showed on Monday.

Britons inject £5.8 billion in housing equity in first quarter

And again, Reuters is reporting, World stocks hit a 4-1/2 week high on Monday and oil rose as investors grew confident over the prospects for the global economy after Greece avoided an early default on its sovereign debt and on signs China's economy is unlikely to make a hard landing.

Stocks at 4-1/2 week high as risk back in favour

Today in the Wall Street Journal, Germany's government plans to borrow less next year than previously expected, thanks to higher privatization and tax revenues, but will borrow more in the following years, according to a planning document for the 2012 budget.

Germany to Cut Borrowing in 2012

Also in the Wall Street Journal, Volkswagen AG took a major step toward forging a European truck alliance that could take on the world's biggest truck makers-Daimler AG and Volvo AB-by obtaining a 55.9% voting stake and 53.7% of the share capital in MAN SE through a low-ball offer.

VW Takes Majority Stake in MAN

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