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Banking

WireTap 0900 14/12/11

A round-up of the key stories across the specialist financial media, including news that MF Global drew up survival manual in final days


EU treaty hopes come under strain

EU leaders are warning that plans for a new treaty to more closely integrate the region’s economies may struggle to pass through national parliaments.

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Exclusive: MF Global drew up survival manual in final days

Just days before it declared bankruptcy on October 31, MF Global concluded it could remain solvent even if a major ratings downgrade limited its access to funding, according to an internal "break-the-glass" plan obtained by Reuters on Tuesday.

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CME head challenges Corzine's account in MF hearing

A CME Group executive has testified that Jon Corzine may have been aware of an improper shift in customer funds in the run up to MF Global filing for bankruptcy.

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Bernanke signals Fed ready to ease on EU risk

Ben Bernanke has indicated concern that the Eurozone crisis may require the Federal Reserve to resume easing.

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Goldman losing out on busiest IPO market

Goldman Sachs, the first Wall Street firm to win an underwriting licence in China, is not participating in the world’s busiest IPO market.

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Dale says U.K. may be facing at least one quarter of contraction

Spencer Dale, the Bank of England’s chief economist, says the UK is probably facing at least one quarter of contraction before recovery.

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Olympus fixes crooked accounts; takeover talk

Olympus Corp has revealed a $665 million dent in its balance sheet, triggering speculation that it would need to merge or sell assets to repair its finances.

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