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WireTap 1400 17/05/12

A round-up of the key stories across the specialist financial media, including news that shares in Spanish bank Bankia plunged by more than a quarter on Thursday morning

Bankia hit by reports of withdrawals

Shares in Bankia, the Spanish bank that was part-nationalized last week, plunged by more than a quarter on Thursday morning, after a report that customers had withdrawn €1 billion from the bank over the past week.

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Big banks need extra $566 billion, says Fitch

The world’s 29 largest global banks will need to raise an additional $566 billion in new capital or shed about $5.5 trillion in assets by 2018 to meet the new tougher Basel III bank capital standards, a new study by Fitch Ratings has found. 

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China may surpass India as biggest gold market 

Gold demand in China may surge as much as 30% this year as rising incomes boost consumption, helping the country topple India as the world’s largest bullion market on an annual basis, according to the World Gold Council.

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White House steps up push to toughen rules on banks

In the wake of losses at JPMorgan Chase, the White House is seeking to ensure a tough interpretation of a regulation designed to prevent banks from making bets with their own money, according to people familiar with the matter.

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Walmart posts strong profit as US sales jump 

Walmart Stores Inc posted a better-than-expected quarterly profit on Thursday, including a 2.6% rise in sales at its Walmart US division's stores open at least a year, as warm weather and an earlier Easter enticed shoppers to spend.

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