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Banking

WireTap 1400 14/03/12

A round-up of the key stories across the specialist financial media, including news that the US's current account deficit has reached a three-year high.


Current-account deficit in U.S. widens to $124.1 billion

The current-account deficit in the U.S. widened more than forecast in the fourth quarter to $124.1 billion, the biggest in three years.

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China's Wen bets final year on reform push

China must embrace slower growth and bolder political reform to keep its economy from faltering and to spread wealth more evenly, Wen Jiabao said on Wednesday, vowing to use his last year in power to attack mounting discontent that he warned could end in chaos.

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UK unemployment total remains flat

The UK labour market showed further signs of brightening as unemployment remained stable at 2.67 million in the three months to January and public sector job losses slowed.

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European stocks rise

European stocks posted solid gains today and the dollar touched its highest level against the yen in 11 months after U.S. stocks climbed to multiyear highs on a statement from the Federal Open Market Committee and well-received U.S. bank stress tests.

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Goldman rejects criticism of ‘toxic’ culture

A departing Goldman Sachs executive has attacked the bank’s culture as “toxic and destructive” in an article that deals a blow to the image of the bank.

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