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WireTap 0900 27/04/12

A round-up of the key stories across the specialist financial media, including news that Spain has had its credit rating cut by S&P

Spain cut by S&P for second time this year on banks, economy

Spain’s sovereign credit rating was cut for the second time this year by Standard & Poor’s on concern that the country will have to provide further fiscal support to banks as the economy contracts.

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Goldman insider probe grows

Investigations are deepening into the potential involvement of Goldman Sachs employees in the high-profile Galleon Group insider-trading ring.

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Bank of Japan expands stimulus as economy set to slow

The Bank of Japan has expanded its plan for government-bond purchases by 10 trillion yen ($124 billion) after the world’s third-largest economy showed signs of slowing and lawmakers pressed for more aggressive steps.

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US growth slows as inventory accumulation wanes

US economic growth likely cooled modestly in the first quarter as replenishing of inventories by businesses slowed, though stronger demand for automobiles and a lift to homebuilding from warm weather blunted the blow.

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Macquarie to launch $500 million share buyback

Macquarie, the Australian financial services group, has secured approval from local regulators to launch a share buyback even though annual profits fell by nearly a quarter.

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