Mindful Money’s news round-up: Tuesday 14th June 2011

14th June 2011

Story of the day:

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.

Companies unprepared for Olympic disruption

And the best of the rest:

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.

Agency Cuts Greece's Debt Rating Again

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.

I.M.F. Names Lagarde and Carstens as Contenders for Top Post

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.

Glencore profits jump on 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.

China's bordeaux lovers heat up France's wine industry

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.

Inflation stays at 4.5%

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.

Soaring inflation hurts the poor more, says IFS

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.

Hopes for China's economy bolster bulls

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.

Japan unveils $6bn business boost, keeps rates on hold

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