BRIC Economies

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The World Cup starts on the 12th June running until the 13th July, being hosted by Brazil, South America. The global scale of the sport means that there are significant amounts of money invested into advertising, hospitality, sponsorship and infrastructure. Is there a correlation between the fortunes of a football team in the tournament and a nation's currency? Well in short, no, there isn’t a direct link over the long term, but the tournament does have an impact on the marke…

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Regulator warns on big four accountancy firms alumni, contributing to stifling competition -Financial Times Libor is currently being set by a smaller group of banks (Bank of America, Citigroup, Bank of Tokyo Mitsubishi UFJ, Royal Bank of Canada, Sumitomo Mitsui Financial Group and Lloyds Banking Group) impairing the rate further –Bloomberg George Osborne Chancellor of the Exchequer will find out the full list of candidates to replace Mervyn King from (I assume Bob Diamond w…

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Overnight Asian markets fell as investors showed concern over central bank stimulus from the EU, Asia and the US, will not be enough to increase global growth. Benchmark indices across Asia fell with the MSCI Asia Pacific Index down around 1.5%. The Chinese economy has fuelled global demand through imports of raw materials for development and exports of cheap goods from low cost labour. Analysts are concerned that a Chinese hard landing could be the sucker punch to global growth over the nex…

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Overnight equity market’s in Asia slid following the moves seen in Europe and the US. Markets were spooked as Greece raced to sign a deal enforcing haircuts on private bond holders to receive critical bail funds and avoid a disorderly default. The FTSE 100 suffered its biggest one day fall this year at 1.9%, and the DAX and CAC 40 falling over 3%. Brazil’s economy has overtaken the UK for the first time, making it the second emerging economy to enter the top tier of economi…

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