14th June 2011
From the Financial Times, Corporate Britain is unprepared for the disruption that will be caused by the Olympics and may squander the potential commercial advantages of a global audience if it does not get to grips with the difficulties, according to experts.
The New York Times is reporting on Greece's new round of downgrading, Standard & Poor's, the credit ratings agency, lowered its grade on Greek debt to CCC on Monday in the latest sign that the market believes that Greece will be forced to default on its debt. The three-notch downgrade makes Greece's debt the lowest-rated in the world by S.& P.
Also from the New York Times, The long-shot bid by Stanley Fischer, the governor of the Bank of Israel, to become managing director of the International Monetary Fund appeared to already be over after the international lender's executive board said late Monday that it would only consider two other candidates.
In the Telegraph, the commodities boom is good for everyone, except the consumer… Glencore, the newly listed commodities trader, said profits jumped 47pc in the first quarter of this year, boosted by healthy global demand for fuel and food.
In the Guardian, Fine wines outstripped gold, crude and the FTSE 100 as an investment last year as prices surged for top vintages.
Inflation remains unchanged, reported in the Guardian, cheaper travel costs compensated for dearer food to keep the annual rate of inflation in the UK steady at 4.5% last month.
In the Independent, how inflation has affected the public, Inflation has hit poorer families much harder than the rich, the latest research shows – and the trend is set to deteriorate. The independent Institute for Fiscal Studies says that for a decade the pattern of price rises has meant that the least well-off families, especially pensioners, have been hit hardest by rising prices.
Today in the Financial Times, Hopes that China, the world's second biggest economy, can successfully navigate a path between controlling inflation and maintaining growth have provided a boost to global stocks.
From the BBC News, The Bank of Japan (BOJ) has unveiled a 500bn yen ($6.2bn; £3.8bn) credit line to help small businesses in the country.