Mindful Money’s news round-up: Tuesday 13th September 2011

13th September 2011

Story of the day:

From the New York Times, Even as European investors race to abandon shares in French banks, on this side of the Atlantic, banks, brokerages and other American financial institutions are quietly reducing their exposure too, turning down requests for fresh loans from the euro currency region and seeking alternative investments.

Wary Investors Start to Shun European Banks

And the best of the rest:

Hopes for Britain's troubled economy have been dealt another blow after a key indicator suggested growth is slowing at its fastest pace in more than a year, reports the Telegraph.

UK growth slowing at fastest pace in more than a year, says OECD

While in the Guardian they are reporting a more global outlook, commodities prices tumble after report says all areas of the world are slowing down for the first time since the financial crisis.

OECD slashes growth outlook for developed economies

Also from the Guardian, China could step in to help rescue Europe from its debt crisis after holding top-level talks with Italy's finance minister.

China in talks over buying Italian debt

German Chancellor Angela Merkel has sought to calm nerves over a possible Greek default, saying the eurozone bloc must stick together, reports the BBC.

Angela Merkel tries to allay Greece default fears

The Wall Street Journal is discussing how the markets are looking after news from around the eurozone, European stocks turned lower Tuesday as investors expressed doubt over whether potential Chinese purchases of Italian bonds can ease the euro zone's sovereign-debt crisis.

Europe's Markets Turn Sour

Inflation rate data is out, from Reuters, Inflation accelerated as expected in August, driven by record annual increases in clothing, footwear and furniture and the biggest rise in household bills in 2 years, official data showed on Tuesday.

Inflation picks up in August as utility bills climb

Banks should be forced to make clear to their customers that they could get a better deal elsewhere, the Vickers report said, from This is Money.

Banks must show customers how to get a better deal, Vickers demands

And in the Financial Times, a hedge fund manager who paid more than $5m in charity auctions to have lunch with Warren Buffett has been hired to be part of the team that will oversee Berkshire Hathaway's investments after the "Oracle of Omaha" leaves the company.

Manager's $5m for Buffett lunches pay off

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