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WireTap 1400 20/03/12

A round-up of the key stories across the specialist financial media, including news that Glencore – backed by partners Richardson International and Agrium Inc – has agreed to buy Canada's Viterra in a cash deal, valuing the country's largest grain handler at C$6.1 billion ($6.2 billion)


Glencore, partners agree $6.2 billion deal to buy Viterra

Commodities trader Glencore, backed by partners Richardson International and Agrium Inc, has agreed to buy Canada's Viterra in a cash deal, valuing the country's largest grain handler at C$6.1 billion ($6.2 billion).

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Subprime revives in UK as Apollo collects on debt: mortgages 

Subprime mortgages that helped fuel the UK housing boom are making a comeback in the bond market, even with Prime Minister David Cameron cutting spending by the most since the Second World War and with the jobless rate at a 16-year high.

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Greece receives first tranche of new bail-out aid

Greece has received the first €7.5 billion of aid from its new EU/IMF bail-out, with the bulk of the payment going to repay bonds held by the eurozone's central banks, government officials said on Tuesday. 

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Crude drops after Saudi intervention

Oil prices fell nearly $2 a barrel on the back of attempts by Saudi Arabia to cool energy markets, amid growing worries about the damage rising costs could have on the global economic recovery.  

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Brand names remain vital for high-yield dim sum investors

Demand for high-yield CNH debt appears to be returning to the market after a hiatus that began last year, but investors are very brand conscious.

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