8th July 2011
The New York Times is asking Will the United States Default? Three views emerge on whether the United States will default on its government debts, as I talk to people on and close to Capitol Hill. The first is, hopefully yes, and this August offers a good opportunity. The second is, possibly yes, but this would be bad, so we need some form of fiscal austerity. The third is, under no circumstances, and any talk of a need for austerity is a hoax.
Taking over the headlines today, The News of the World, Shares in BSkyB have slid 1% today as a top City commentator said the likelihood of a successful takeover by crisis-stricken News Corporation had fallen to evens, reported in This is Money.
Also on This is Money, Legendary investor Warren Buffett has donated another $1.78billion to charity, with the bulk going to the Bill & Melinda Gates Foundation. The billionaire pledged in 2006 to steadily donate 99 per cent of his wealth.
The Guardian is reporting, the Pets at Home chain reported a staggering 250% increase in annual like-for-like sales of reptiles and related products, such as the live crickets they eat.
More on high street woes from the Guardian, the gravity of the high street downturn is spelled out in new research published on Friday which shows UK retail chains have been closing stores this year at a rate of about 20 a day.
The Independent is reporting, banking giant Santander UK today said it had returned all its call centres in India to the UK following complaints from customers.
The talk of twitter is British Gas, owned by Centrica, is putting up its domestic gas and electricity prices from 18 August, reported on the BBC News.
Today in the Financial Times, Eurozone governments should not assume the private sector will participate in a new Greek bail-out deal, the European Central Bank has warned, escalating its conflict with finance ministers over the future of the indebted country.
The Wall Street Journal is discussing the surge of IPO's that have been announced recently, Silicon Valley's technology boom is giving a lift to the venture-capital industry.But many of the gains are being disproportionately reaped by brand-name venture firms, which are benefiting from a wave of Internet IPOs and the soaring valuations of closely held companies such as Facebook Inc.
From Reuters, suicides rates rose sharply in Europe in 2007 to 2009 as the financial crisis drove unemployment up and squeezed incomes, with the worst hit countries like Greece and Ireland seeing the most dramatic increases, researchers have said.
Today in the Telegraph, the nation's favourite savings product – Premium Bonds – enjoyed another bumper year, despite the fact that the amount of money invested with National Savings & Investments fell by £2.6bn over this period.
Also on the Telegraph, The West Midlands was the region worst hit by the recession in terms of unemployment, according to new analysis from the Office for National Statistics (ONS) examining how the downturn impacted around the country.