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Banking

WireTap 1400 13/04/12

A round-up of the key stories across the specialist financial media, including JPMorgan’s unexpected net income of $5.4 billion.


JPMorgan’s first-quarter income down to $5.4 billion

JPMorgan Chase reported net income of $5.4 billion as it kicked off the first-quarter earnings season for US banks, down from last year’s $5.6 billion but still much more than analysts had forecast. 

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Weak UK construction data raise worries about GDP growth 

UK construction sector output rose less in February than economists had expected, raising fears that the small but volatile sector would prove to be a drag on the whole economy in the first quarter of the year.  

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Ireland’s bad bank transforms debtors into landlords

Ireland’s National Asset Management Agency is turning debtors into landlords as it seeks to recoup the €32 billion it paid for commercial mortgages after the real estate market collapsed.   

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ECB expected to favour bond buying over bank loans

The European Central Bank will restart its controversial government bond purchases rather than offer banks another round of unlimited three-year loans as the sovereign debt crisis worsens, a survey of economists shows.

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Costs hobble US banks' profits

Rising expenses are thwarting US banks' repeated attempts at belt-tightening, putting added pressure on an industry struggling to find new ways to boost profits. 

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