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Banking

WireTap 1400 10/05/12

A round-up of the key stories across the specialist financial media, including news that Goldman Sachs redeemed about $250 million from hedge funds during the first quarter in a move towards compliance with the Volcker rule


Goldman redeems $250 million hedge-fund stakes on Volcker

Goldman Sachs, the fifth- biggest US bank by assets, redeemed about $250 million from hedge funds during the first quarter as it begins to comply with rules requiring banks to reduce such investments.

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Bernanke gets 75% approval from investors in global poll

Global investors give Federal Reserve Chairman Ben Bernanke his highest approval rating since 2009 and expect him to take further action this year to accelerate a revival in the U.S. economy and financial markets.

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China risks fresh demand downturn, trade data shows

China risks a fresh downturn in demand for goods from its massive factory sector, with weaker than expected exports and stalling headline import growth signalling that government spending is the crucial factor keeping the economy moving.

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Pasok in final bid to form Greek coalition

Greece’s centre-left Panhellenic Socialist Movement (Pasok) has embarked on a final attempt at building a coalition after failing to reach common ground in talks with the radical leftwing Syriza party.

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BOE stands pat as inflation fears trump growth woes

The Bank of England paused its bond-buying stimulus program Thursday as rate-setters decided that a stubbornly high annual rate of inflation is a bigger worry than official data showing the U.K. slid back into recession in the first quarter.

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