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WireTap 1400 08/03/12

A round-up of the key stories across the specialist financial media, including news of good earnings boosting London equities.

Strong earnings lift London

Upbeat earnings news helped London equities gather speed on Thursday, as traders also laid bets that Thursday’s deadline for a private sector Greek debt swap deal would contain few surprises.

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Hedge funds see tax break in republican bill

A Republican proposal to give small businesses an extra 20 percent tax deduction may yield cuts for some multibillion-dollar hedge funds, law firms and other enterprises that create significant profits with few employees.

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MPC keeps rates and QE on hold

Britain's rate-setting body voted on Thursday to keep interest rates at their record low of half a percentage point on the third anniversary of the date they were moved there.

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BNP Paribas nears capital target with Klépierre stake sale

BNP Paribas said Thursday it is selling a 28.7% stake in French real-estate company Klépierre to Simon Property Group, a significant step towards shoring up capital levels to meet new regulations.

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Turkish data point to slowdown

Turkish industrial production, the leading indicator of economic output, posted its weakest expansion for more than two years in January, sharply undershooting analysts' expectations and indicating that Turkey's rapid pace of economic growth could be heading for an abrupt slowdown.

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