Mindful Money’s news round-up: Thursday 11th August 2011

11th August 2011

Story of the day:

From the New York Times, It feels eerily familiar: Stocks are plummeting. The economy is slowing. Politicians are scrambling to find solutions but are mired in disagreement. Many Americans are wondering whether they are in for a repeat of the financial crisis of 2008.

Financial Turmoil Evokes Comparison to 2008 Crisis

And the best of the rest:

The Guardian are reporting, the riots that have struck parts of Britain could knock Britain's economic recovery off course and force many small companies into bankruptcy, Labour MP Chuka Umunna warned on Wednesday.

Economic cost of England riots will harm services sector, says MP

From Reuters, world stocks edged up on Thursday from this week's 11-month low as higher U.S. stock futures calmed frayed investor nerves after a steep selloff, and the euro also rose.

World stocks stabilise after battering; euro rises

The stock market wobbles and gold has breached $1,800 for the first time as sickening lurches across many risk assets continue to polish the lustre of the precious metal, from the Financial Times.

Gold breaches $1,800 in volatile trading

In the Telegraph, the fate of the world is now in the hands of Chinese and German policymakers.

UK growth is now in China's hands

Government borrowing costs tumbled to a record low last night as Britain benefited from its new found ‘safe-haven' status despite fears over the subdued recovery, says This is Money.

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