Mindful Money’s news round-up: Friday 29th July 2011

29th July 2011

Story of the day:

From Reuters, Consumer sentiment fell back in July towards the two-year low seen earlier this year, a survey showed on Friday, fuelling concerns that cash-strapped consumers will continue to cut back spending and hamper the fragile economic recovery.

Consumer confidence drops back towards 2-year low

And the best of the rest:

The New York Times is discussing: the United States and Europe seem to be competing hard this summer for the title of "biggest economic problem." Based on the latest news coverage, Europe might seem to be experiencing something of a resurgence, as last week the euro zone agreed on a deal involving mutual support and limiting the fallout from Greece's debt problems. In contrast, the United States seems to be mired in a political stalemate that becomes more complex and confused at every turn.

Which Is in Worse Shape, U.S. or Europe?

In the Telegraph, Republican leaders have abandoned a vote on a plan to raise the debt limit, in a major setback for the authority of Speaker John Boehner who failed to persuade members of his party's Tea Party wing to support him.

US debt crisis: Republicans abandon vote as panic grows

The Financial Times is discussing the eurozone, Spain became the latest eurozone country to feel the pressure of credit rating agencies as Moody's warned it was at risk of a one-notch downgrade.

Moody's puts Spain on review for downgrade

And This is Money is reporting some good news for the UK, George Osborne was handed a much-needed boost yesterday as Britain was deemed a safer place to invest than the United States.

Boost for Britain as it overtakes US as a save investment haven

BSkyB has reported pre-tax profits of £1bn in the year to the end of June, as the company announced a £750m share buy-back to appease investors unhappy after the failure of News Corporation's bid to takeover the satellite broadcaster, according to the Guardian.

BSkyB reports £1bn pre-tax profits

While the Telegraph is reporting on BSkyB as well, BSkyB board is set for a shake-up but its eight independent directors have given their backing to James Murdoch to remain chairman as damaging new phone hacking allegations were made.

Phone Hacking: BSkyB board backs James Murdoch as fresh News of the World claims emerge

In the Independent, Vodafone shareholders are set to receive a £2bn windfall next year, after its joint venture in the US resurrected its dividend following years of squabbling between the two partners.

Vodafone's US venture to pay £2bn dividend

House prices are stabilising, according to the latest monthly report from the Nationwide building society, reports the BBC News.

House prices are stabilising, says Nationwide

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