The Independent Banking Commission has released a report which recommends UK banks to “ring-fence” their retail operations from their investment banking arms. The commission hasn’t however gone that far to suggest that the two should operate as separate entities.
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Spain’s league programme will resume its pre-established course as a Madrid court reprobated the legal action taken by six breakaway clubs against the national league of football and blocked one proposal to start a strike.
The U.S. dollar managed to gain slightly in Asia on Monday, after hitting a record low against Swiss franc, but the situation in Libya and the fears of its potential spreading to other countries in the area maintained a somewhat cautious mood in the market.
The turmoil in Libya was certain to have repercussions in the financial markets around the world, and fears that the situation might spread to other oil producers in the area have made investors seek safety. This in turn has made the Swiss franc reach an all-time high against the U.S. dollar on Thursday, while the Japanese yen also gained considerably.
The Bulgarian government is trying to register grape rakia – a potent fruit liquor considered the national drink – as a traditional product in the European Union. This would be done in an attempt to lower the price of the brandy-like beverage and boost the spirits in the Balkan country, as by registering it, the state would be allowed to cut excise duties.
The current state of the U.S. economy is controversial, since it seems that Wall Street and the U.S. government statisticians don’t share opinions regarding its outlook. A possible cause for the different views might be the focus on where companies are making their money.
The civil unrest in Bahrain on Tuesday was closely monitored by the Formula One organizers, as the new season is scheduled to start in less than a month and the opening race will be right at the Bahrain International Circuit.
China managed to surpass Japan after thirty years of spectacular growth and became the world’s second-largest economy behind the United States in the second quarter, according to official government figures released early on Monday.
A rise in the VAT and higher oil prices have led to an increased inflation rate in the United Kingdom, as the Consumer Prices Index (CPI) annual inflation rate reached 4 percent in January, up from the 3.7 percent in December.
Chinese capital Beijing is undergoing ample reconstruction and renovation works, with Qianmen district offering the best example of both advantages and disadvantages.