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WireTap 1400 22/02/12

A round-up of the key stories across the specialist financial media, including news that global investment banking revenue is projected to shrink by 4% in 2012.

Global investment banking revenue to drop 4%

Investment-banking revenue will drop by about 4 percent this year, JPMorgan Cazenove analysts wrote in a note to clients.

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Euro zone teetering on brink of recession

The euro zone economy is in danger of tipping into recession, with the services sector shrinking this month along with manufacturing.

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Oil prices in sterling hit record high

The price of crude denominated in sterling has hit a record high, pushed up by fears about Iranian oil supplies and a weakening pound.

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UniCredit wins dismissal in Madoff case

UniCredit and its former chief executive have won the dismissal of the most serious claims filed against them by the trustee seeking compensation for victims of Bernard Madoff.

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Goldman Lowers Commodity Return Forecast

Goldman Sachs has cut its 12- month prediction for commodity returns, while forecasting gains for crude oil and gold and keeping an “overweight” allocation in raw materials.

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