Mindful Money’s news round-up: Wednesday 10th August 2011

10th August 2011

Story of the day:

From the Telegraph, technology giant Apple is likely to be crowned the world's most valuable company today after briefly stealing the title from ExxonMobil yesterday as stock markets on Wall Street rebounded.

Apple becomes world's most valuable company

And the best of the rest:

More on technology companies from the New York Times, even as Wall Street trembles, the market for investing in tech start-ups remains white-hot. Still, some investors are proceeding with extreme caution.

Technology Investors Turn Wary on Ventures

What's happening in the aftermath of the riots:

From the Guardian, insurers have said they will pay out to customers who have had possessions damaged and stolen in the riots in London and across the rest of the country.

Insurance companies pledge to pay out for UK riot damage

However, in the BBC News, businesses affected by the riots that have taken place over the last few days face "huge costs", the British Retail Consortium (BRC) has warned.

UK riots: Businesses face 'huge' costs

And the aftermath of yesterdays Fed announcement:

The Financial Times, European bourses have joined Asian markets in welcoming Wall Street's overnight surge after the US Federal Reserve's promise to freeze interest rates until 2013 – and possibly introduce more quantitative easing – provided a firebreak to recent turbulent risk asset selling.

Global stocks rebound after Fed move

Reuters is reporting on the UK now being in the spotlight after the Fed's announcement last night, Bank of England Governor Mervyn King will be in the spotlight later on Wednesday when he presents new economic forecasts — and faces questions about whether the latest market turmoil has moved the Bank closer to a second bout of quantitative easing.

QE in focus as Bank's King presents new forecasts

Also from Reuters, China's exports hit a record high in July as shipments to Europe and the United States proved surprisingly buoyant, allaying concerns that debt problems abroad may hold back the world's No. 2 economy.

China July exports hit record high, surplus swells

The Swiss franc fell on Wednesday after the country's central bank expanded liquidity operations and warned it would take further steps to curb the currency's strength, reports the Financial Times.

Swiss franc falls after SNB action

From This is Money, more than £120billion has been wiped off the value of  Britain's pensions in the last month following the stock  market turmoil.

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