Mindful Money’s news round-up: Wednesday 6th July 2011

6th July 2011

Story of the day:

From the Financial Times, Brazil is preparing a range of additional measures to stem the damaging rise of the real as the global currency war shows no signs of ending, according to Guido Mantega, the country's finance minister.

Currency wars not over, says Brazil

And the best of the rest:

Today in the New York Times the talk is all around the eurozone, Moody's Investors Service cut Portugal's debt rating to junk status on Tuesday, ratcheting up the pressure on euro zone governments to work out a lasting solution to their financial woes.

Portugal's Debt Rating Cut to Junk by Moody's

Also in the New York Times, Greek Finance Minister Moves from Crisis to Crisis

Reuters is also discussing Greece, the head of Standard & Poor's in Germany rejected criticism that the ratings agency was being too tough in judging efforts to involve the private sector in Greece's bailout without triggering a sovereign debt default.

Germany S&P head rejects criticism of Greek role

The Telegraph is reporting, Britain faces another £20bn of austerity and an increase in the pension age to 70 if public debt is to return to pre-crisis levels over the long-term, according to a new report.

UK needs £20bn more austerity and retirement at 70, says PwC

Nuclear power is being discussed in the Telegraph, fresh doubts have emerged over the delivery of Britain's nuclear ambitions, after EDF said it would issue an "adjusted timetable" for construction and RWE admitted it was still deciding "how to move on with the project".

EDF and RWE raise fresh doubts over UK nuclear plans

And solar power is being discussed in the Daily Mail, Solar panels that cost up to £16,000 will knock just £70 a year off household bills, which is almost half the original estimate, energy experts have admitted.

Solar panel myth: Experts slash estimates for how much panels will save you

More high street news today as the Guardian reports, Sports Direct paid £7m for an 80% stake in USC and Cruise, which specialise in designer brands such as Ugg boots and the Adidas Originals range

Sports Direct buys fashion chains USC and Cruise Clothing

BBC News today, Taiwanese smartphone maker HTC has reported that its profits more than doubled in the three months to June on growing demand for its gadgets.

HTC profits double as smartphone demand grows

The Financial Times is talking about Japan, their stock market has hit its highest level since the March 11 earthquake, a symbol of growing belief among investors that the global economic slowdown, partly caused by the tremor and tsunami, is abating.

Tokyo's post-quake high adds to global recovery hopes

This is Money are looking at how the property slump and recession has taken its toll on our love affair with home ownership, with the number of owner-occupied homes falling four per cent in five years.Official figures show that home ownership has continued to slip, having peaked in 2005 after climbing steadily for 25 years.

Leave a Reply

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