Mindful Money’s news round-up: Wednesday 20th July 2011

20th July 2011

Story of the day:

From Reuters, a faltering economy and lasting damage from the world financial crisis may threaten the government's goal to eliminate a record budget deficit despite deep spending cuts which have so far reassured investors.

Govt faces fresh deficit threat as economy falters

And the best of the rest:

The New York Times is reporting strong sales to shoppers in emerging markets and to business customers helped Apple extend its lengthy streak of stellar performance in its earnings report.

Strong Sales Help Extend Apple Streak

The Telegraph are discussing the next moves in the eurozone, Europe's leaders have finally run out of time. If they fail to agree on some form of debt pooling and shared fiscal destiny at Thursday's emergency summit, they risk a full-fledged run on South Europe's bond markets and a disorderly collapse of monetary union.

Only Germany can save EMU as contagion turns systemic

Then from This is Money, The debt crisis crippling the Eurozone could trigger an ‘earthquake' that slashes hundreds of billions of pounds off the global economy, the world's financial watchdog warned last night.

IMF warns the Eurozone of £400bn global 'earthquake' and urges them to rescue Greece

From the BBC News, Shares in News Corporation have recovered ground after Rupert and James Murdoch's appearance in front of a committee of British MPs.

News Corp shares rise after hearing

The Independent is writing in response to the rise in share prices of News Corp, it is easy enough to see exactly what is happening to a company's share price in real time. What will dismay Rupert Murdoch is that as he gave his shambling evidence to Parliament yesterday, the value of News Corp, his empire, rose rather than fell. That tells you everything you need to know about where this scandal is now headed.

Investors look forward to change at the top of News Corp

On the BBC News, sales and passenger numbers at Eurostar grew in the first half of the year, boosted by a rise in US travellers.

Eurostar boosted by increase in US travellers

Another from the BBC News, BHP Billiton, the world's biggest miner, has reported a rise in coal output but said that flooding continues to impact production.

BHP Billiton coal output up but not at pre-flood levels

The Guardian is discussing the US, a last-ditch plan to resolve the deadlock over America's debt ceiling has raised hopes that the world's biggest economy could avoid a potentially catastrophic default, as Europe remains bogged down in its own financial crisis.

US debt ceiling: Gang of Six inject hope into talks

Today from the Financial Times, prosecutors in Germany have publicly alleged for the first time that Bernie Ecclestone and a trust belonging to the Formula One supremo's family paid almost $44m in bribes to a German banker.

Ecclestone under fire in F1 bribes probe

The Wall Street Journal are reporting some surprising news, long envied as one of the savviest gamblers around, Goldman Sachs Group Inc. surprised Wall Street with a steep decline in trading revenue because it stopped rolling the dice.

Goldman Bets Less and Takes Hit

To receive our free email newsletter sign up here.     

Leave a Reply

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