Mindful Money’s news round-up: Tuesday 21st June 2011

21st June 2011

Story of the day:

From the Independent, Solar industry campaigners have their last chance to save much-needed subsidies today as MPs meet to decide if the Government's controversial cuts warrant a debate in the House of Commons.

Solar industry takes tariff fight to Lords

And the best of the rest:

Today the Telegraph are discussing the new dotcom bubble, House prices in Palo Alto are soaring, a string of internet companies are lining up to float with mind boggling billion dollar valuations and the Tesla, a $100,000 electric sports car, is the new must-have toy for any self-respecting Silicon Valley executive.  All evidence – at least according to some commentators – of a second (or is it a third?) dotcom bubble.

The market could burst the latest dotcom bubble before it has been blown

Also in the Telegraph, how first time buyers are being helped on to the property ladder, Under FirstBuy, the Government and housebuilders will provide buyers with a loan of up to 20pc of the property price, meaning that potential buyers will have to put up just a 5pc deposit to qualify for a 75pc mortgage.

Housebuilders sign up to help first-time buyers

From the Guardian, US regulators have sued Royal Bank of Scotland and JP Morgan for $800m (£495m), alleging that the banks made "numerous misrepresentations" selling mortgage-based securities.

US regulators sue RBS and JP Morgan for $800m lost in credit crisis

The Financial Times, shares in Foster's Group surged as much as 13 per cent on Tuesday after the Australian brewer rejected an A$9.5bn ($10bn) takeover offer from SABMiller, the world's second-largest brewer by sales, claiming the bid significantly undervalued the company.

Foster's rejects A$9.5bn SABMiller bid

From the Independent, A trillion and a half is such a big a number that most people probably wouldn't even try getting their heads around it. But that is the total level of personal debt owed by the 50 million or so British adults.

Britain: The most indebted nation on Earth

Today on the BBC News, The Fitch credit ratings agency has said that if commercial lenders roll over their loans to Greece, it will deem the country to be in "default".

Greece: Voluntary bank help would be a default

However, Reuters is reporting, The FTSE 100 .FTSE rose 36.90 points, or 0.7 percent at 5,730.29 by 8:44 a.m., recovering the previous session's losses, although gains will be tempered due to ongoing worries over Greece's debt situation and an impending confidence vote on the government in the Greek parliament.

FTSE up slightly ahead of Greek confidence vote

To receive our free weekly email sign up here

Leave a Reply

Your email address will not be published. Required fields are marked *