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Banking

WireTap 1400 16/02/12

A round-up of the key stories across the specialist financial media, including news that Moody's might downgrade a number of leading financial institutions


Morgan Stanley, UBS might be cut by Moody’s

UBS, Credit Suisse Group and Morgan Stanley’s credit ratings might be cut by as many as three levels by Moody’s.

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Congress reaches payroll tax-cut deal

A payroll tax cut for 160 million Americans, set to expire at the end of this month, is to be extended through to December under a bipartisan deal.

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SocGén's fourth-quarter profits tumble

Société Générale has reported a near 90% drop in fourth-quarter profits, after losses at its investment bank and writedowns on Greek sovereign bond holdings.

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China's 2012 plan might target growth below 8%, state economist Fan predicts

China might set its lowest annual growth target in eight years, according to Fan Jianping, chief economist at the government-run State Information Centre.

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Bank of England increases inflation forecast

The Bank of England has slightly increased its forecast for inflation in two years’ time, but markets continued to bet that the Bank was poised to engage in further quantitative easing.

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