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Banking

WireTap 0900 07/12/11

A round-up of the key stories across the specialist financial media, including news that the EU is doubling up its bailout funds




EU talks on doubling financial firewall

FT reports that in eleventh-hour negotiations have begun to create a much bigger financial “bazooka” to present at this week’s European Union summit that could include running two separate rescue funds and winning increased support for the International Monetary Fund.

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Geithner presses Europe for debt solution

Treasury Secretary Meets With Germany's Finance Minister, Central Bank Officials as EU Leaders' Summit Approaches, WSJ reports

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Judge confirms Lehman's $65bn plan to pay back creditors

A judge yesterday confirmed Lehman Brother' $65bn creditor payment plan, one final major milestone in the investment bank's record setting bankruptcy case and a cathartic ending to the collapse that tipped world economies into chaos in 2008

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Australia economy surges on mining boom

Australia’s economy surged in the third quarter, spurred on by a boom in mining investment, with the data coming a day after the nation’s central bank cut the key cash rate on fears about the outlook for global growth.

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Change to Japan clearing mandate ends LCH-JSCC talks

A decision to limit the scope of Japan's clearing mandate has torpedoed months of partnership talks between LCH.Clearnet and the Japan Securities Clearing Corporation

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