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Banking

WireTap 0900 08/05/12

A round-up of the key stories across the specialist financial media, including news that Andrew Moss has bowed to investor pressure and stepped down from the helm at Aviva


Moss steps down from Aviva helm

Andrew Moss has bowed to investor pressure and stepped down from the helm at Aviva, becoming the latest casualty of shareholder revolt over corporate pay levels. 

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KPN jumps after America Movil makes $3.4 billion offer

America Movil, the wireless carrier owned by the world’s richest man, Carlos Slim, offered €2.6 billion ($3.4 billion) to increase a stake in Royal KPN NV in its biggest investment outside Latin America.  

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China’s gold imports gain as country might become biggest user

Mainland China’s gold imports from Hong Kong surged more than sixfold in the first quarter, adding to signs that the country might displace India as the world’s largest consumer of the precious metal on an annual basis.

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Bank of Japan buys record amount of stock ETFs 

The Bank of Japan stepped back into the stock market on Monday, making its largest single-day purchase of exchange-traded funds to date, though the move failed to prevent a sharp fall for the Tokyo equity market.

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Unusual pairings emerge in currency market

A small but increasing number of investors are trading emerging-market currencies against each other, rather than against the dollar, say analysts and traders.

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