WireTap 0900 03/02/12
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WireTap 0900 03/02/12

A round-up of the key stories across the specialist financial media, including news that Glencore and Xstrata are even closer to $88 billion deal


Glencore and Xstrata close to $88 billion deal 

Glencore and Xstrata have launched merger talks to create an $88 billion commodities trading and mining giant with the financial muscle to sweep up some of its biggest rivals.

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Greece seeks second rescue, fights to stay in euro 

The rescue plan for Greece, which may be wrapped up in coming days, includes a loss of more than 70% for bondholders in a voluntary exchange and loans likely to exceed the €130 billion ($171 billion) now on the table.

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Stocks soften ahead of US jobs data

Markets are mixed, with some equity gauges easing from multi-month highs, as investors prepare to trade the always eagerly anticipated US jobs report later in the session.

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Europe dips as jobs await  

European stock markets traded slightly lower on Friday, as investors looked ahead to key US non-farm payroll data due later.

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Beijing considers Europe support 

China is considering deeper involvement in the eurozone's bailout funds, Chinese Premier Wen Jiabao said on Thursday – the strongest public indication yet that China may marshal its massive foreign-exchange reserves to help alleviate the Continent's sovereign-debt crisis.

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Indonesia mutual funds might grow 20% this year, group says 

Indonesian mutual-fund assets will probably expand at a faster pace this year as overseas investors increase stock purchases, after the country regained its investment grade, an industry group said.

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