Mindful Money’s news round-up: Thursday 7th July 2011

7th July 2011

Story of the day:

The Financial Times is reporting the latest luxury brand to look towards the stock markets. Aston Martin, fresh from a maiden bond issue, said it was considering an initial public offering of its shares.

Aston Martin considers IPO

And the best of the rest:

Today most of the discussions are surrounding the eurozone, from the Telegraph, a chorus of policy-makers from Europe and across the world have denounced Moody's drastic downgrade of Portuguese debt as an act of financial vandalism, accusing the "Anglo-Saxon" rating agencies of driving states into bankruptcy and destabilising the global system.

Europe declares war on rating agencies

In the Guardian, Eurozone finance ministers are sharply divided over how to handle the spiralling Greek debt crisis, Dutch finance minister Jan Kees de Jager revealed as he attacked France's plans for a new rescue package.

Eurozone split over new Greece bailout

and from the BBC News, the European Central Bank (ECB) is expected to raise interest rates later in an attempt to cool inflation.

ECB expected to raise eurozone interest rates

On the Telegraph, Lehman Brothers secretly borrowed billions of dollars from the US Federal Reserve months before the investment bank filed for bankruptcy, it has emerged.

Lehman Brothers secretly borrowed from the Fed before collapse

Also from the Telegraph, an intervention by Ofcom has raised fears that the News of the World phone hacking scandal could derail Rupert Murdoch's attempt to take full control of BSkyB on the basis that he is not a "fit and proper" owner.

News Corp bid for BSkyB may be scuppered by 'fit and proper' owner test

In the Guardian, the new head of the International Monetary Fund used her first press conference to pledge to make the institution more diverse and warn of the dangers of Europe's debt crisis spreading.

Christine Lagarde puts debt crisis and IMF diversity at top of her to-do list

Reuters looking at the stories in social media, Facebook users will now be able to use Skype for video chat, a shot back at rival Google's new Google+ service.

Skyping on Facebook 

The Wall Street Journal are reporting how facebook is a little behind the times, Mark Zuckerberg might want to fast-track Facebook's initial public offering. In what appeared to be a hasty response to the launch of Google's rival social-networking product, called Google+, Mr. Zuckerberg on Wednesday unveiled Facebook's new video-chatting feature. He called it "super awesome." Too bad Google made the same feature available in 2008. Indeed, Facebook suddenly looks vulnerable. This could be bad news for investors who have recently paid top dollar for stock in Facebook in private sales.

Google Makes Facebook Look Socially Awkward

In the Independent, while most Britons struggle to cope with a brutal squeeze on their spending, the City of London's investment banks are preparing for a bonus boom after raking in huge increases in fees.

Investment bankers in line for bonus bonanza as income soars

Also in the Independent, Britain's companies are turning more profit than you realised.

The Daily Mail are writing about green taxes, millions of people believe soaring green taxes are simply an excuse to take more money from their pockets, MPs say.

The green tax con: Climate change levies are swallowed up by Treasury

The BBC News are discussing what could be done with the green tax, the government should use money from fuel duty to cut the price of public transport, according to a group of MPs.

MPs say fuel duty should cut public transport prices

 

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