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WireTap 1400 21/03/12

A round-up of the key stories across the specialist financial media, including an update on George Osborne's Budget that “rewards work” and “unashamedly backs business”, as he pledges to hold firm on Britain’s austerity

Osborne unveils Budget to ‘reward work’ 

George Osborne has delivered a Budget that “rewards work” and “unashamedly backs business”, he said while pledging to hold firm on Britain’s austerity.

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Game Group heads for administration

Game Group is set to go into administration after the video-game retailer’s board concluded there was “no equity value left in the group”, making it the largest chain of stores to go into insolvency since Woolworths disappeared from the high street in 2008.

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Germany to balance budget early 

The German government on Wednesday approved draft mid-term financial plans that sees Europe's largest economy achieving a balanced budget two years earlier than planned, strengthening Chancellor Angela Merkel's hand in forcing profligate eurozone members to stick to austerity plans. 

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US stock futures higher ahead of home sales 

US stock-market futures edged higher on Wednesday as European stocks wobbled and commodity prices attempted a rebound ahead of a report that could show a rise in US home sales.    

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Jaguar said to invest as much as $3 billion with Chery Auto

Tata Motors’ Jaguar Land Rover luxury division and Chery Automobile Co Ltd may invest as much as $3 billion over five years in their Chinese joint venture, two people familiar with the matter said. 

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