Mindful Money’s news round-up: Tuesday 28th June 2011

28th June 2011

Story of the day:

From the Independent, in an updated and expanded version of the four horsemen of the apocalypse, the Organisation for Economic Co-operation and Development (OECD) has identified five "global shocks" that will destabilise the world economy with increasing frequency in coming years.  Rather than the traditional perils of conquest, war, famine and death, the OECD identifies viral pandemics, cyber attacks, financial crises, socio-economic unrest and geomagnetic storms as the five "global shocks" that will have to be endured.

World economy set to face more frequent shocks

And the best of the rest:

Today the Telegraph are discussing Greece, French president Nicolas Sarkozy has struck a deal with his country's banks to restructure their holdings of Greek debt.

France's Sarkozy strikes deal with banks to restructure Greek debt

Also from the Telegraph, Adam Posen, the resident dove on the Bank of England's Monetary Policy Committee (MPC), has hit back at criticism from the world's central bank of Britain's soft interest rate policy by labelling its analysis "nonsense".

Adam Posen attacks world's central bank over UK interest rate criticism

The New York Times is reporting, Microsoft is also jumping on the cloud bandwagon.

Microsoft Takes to Cloud to Defend Its Office Business

Thorntons is the most recent woe on the high street according to the Guardian, as more than 10,000 jobs are now at risk across the UK retail sector as Thorntons announced the closure of up to 180 stores, threatening around 1,000 jobs.

Thorntons deepens retail gloom with news of store closures

This is Money is also reporting on high street chains, Thousands more high street jobs are under threat as discount department store chain TJ Hughes teeters on the brink of collapse.

4,000 more retail jobs threatened as department store chain TJ Hughes moves for administrator

The Guardian is also discussing repossessions, Britain is facing a 'tsunami' of house repossessions as soon as interest rates start to rise, warns Richard Banks, the chief executive of UK Asset Resolution (UKAR) one of the country's leading bankers.

Bank chief warns of wave of home repossessions if rates rise

Today in the Financial Times, how the UK might be damaging their relationship with China, Wen Jiabao, China's premier, has sharply rebuked the UK government of David Cameron over its criticisms of China's lack of human rights, warning that the London should stop its "finger-pointing" at Beijing.

Wen rebukes UK human rights focus

From This is Money, a green ‘stealth' tax to encourage new wind farms and nuclear power plants could push tens of thousands of households into fuel  poverty but do nothing to reduce emissions.

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