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Banking

WireTap 0900 27/03/12

A round-up of the key stories across the specialist financial media, including news that Caixa Bank has bought Banca Civica as the overhaul of Spain's banking sector gains pace.


CaixaBank buys Civica for $1.3 billion in Spanish bank overhaul

CaixaBank, Spain’s fourth- biggest lender, agreed to buy Banca Civica, a group of former savings banks, for 977 million euros as an overhaul of the nation’s financial industry gathers pace.

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Fed doubts big US jobless falls will last

Rapid recent falls in US unemployment may prove to be a one-off unless economic growth picks up, Ben Bernanke, chairman of the US Federal Reserve, warned on Monday.

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Fed signals resolve on rates

Federal Reserve Chairman Ben Bernanke said the central bank's easy-money policies are still needed to confront deep problems in the labour market, moving to reinforce his plan to keep interest rates low for years.

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BOE says more needed to rebalance U.K. economy

The UK needs to make further progress on rebalancing its economy, the Bank of England's chief economist said Tuesday, as a central bank analysis highlighted the potential pitfalls policy makers may face when such economic shifts are underway.

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Sleepless in Dubai as traders rejoice eight-fold volume increase

Just four months ago, share prices and trading values in Dubai fell to the lowest levels since 2004. Now stock trading has increased eight-fold, the most among the world’s 40 biggest markets, as the emirate rebounds from its biggest financial crisis.

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