Mindful Money’s news round-up: Tuesday 12th July 2011

12th July 2011

Story of the day:

From Reuters, a video explaining how the Olympics will increase consumer spending.

Olympics to boost consumer spending

And the best of the rest:

Still the hot topic of conversation, Rupert Murdoch's News Corp is facing a billion-dollar lawsuit from shareholders alleging that the phone hacking scandal is evidence of a corporate culture that had "run amok", according to the Telegraph.

Phone hacking: Rupert Murdoch accused as News Corp investors sue in US

The Telegraph is reporting, house prices will not recover to their pre-crisis peak for another nine years, according to new research from accountants PricewaterhouseCoopers (PwC).

House prices 'won't recover until 2020'

The New York Times is looking at how the stock market is looking and how debt woes in Italy is effecting it, growing nervousness about the debt crisis in Europe and the prospects for global growth continued to pummel both Asian and European stock markets and the euro on Tuesday as investors took refuge in what they saw as safer assets.

Worries About Italy's Debt Drag Down Asian Markets

The Financial Times is also discussing the eurozone and the euro is slipping, the eurozone's precarious fiscal position remains the predominant theme across markets, draining risk appetite and causing flight to perceived havens such as German Bunds.

Euro slides as sovereign debt woes mount

This is Money is also reporting on the eurozone crisis, writing that Britain faces losses of nearly £43billion if the Italian economy collapses, according figures compiled by the Bank of England.

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