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WireTap 1400 24/04/12

A round-up of the key stories across the specialist financial media, including news that UK government borrowing has ended the financial year in line with expectations

Government borrowing ends year on target

Five more years of grinding austerity were in prospect on Tuesday after UK government borrowing ended the 2011-12 financial year in line with George Osborne’s Budget estimates last month.

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AT&T quarterly profit rises on higher margins

AT&T reported a higher quarterly profit, driven by a more than 27% rise in wireless margins.

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Most Chinese stocks drop on slowing economy, Europe debt concern

Most Chinese stocks fell as a leading index for the nation’s economy rose at a slower pace in March and political uncertainty in Europe hurt the outlook for Chinese exports to its biggest trading partner.

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Rate cut expectations weigh on Aussie

The Australian dollar neared two-week lows on Tuesday as investors priced in the possibility of an interest-rate cut after lower-than-expected inflation figures.

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Stock futures edge higher, Apple to report results

Stock index futures crept higher on Tuesday after sharp market losses in the previous session, but continued concerns about Europe's debt crisis could mean gains will be slight.

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