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Banking

WireTap 0900 18/01/11

A round-up of the key stories across the specialist financial media, including news that Jerry Yang, Yahoo's co-founder and former chief executive, has resigned from its board of directors.




World Bank warns emerging nations

Developing countries urged to plan for a new global meltdown

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Yang resigns from Yahoo board; shares up

Yahoo Inc. on Tuesday said Jerry Yang, the company’s co-founder and former chief executive, has resigned from its board of directors. 

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Wells earnings put rival Citi in shade

Wells Fargo trounced its rival Citigroup in the fourth quarter as the biggest US bank by market value defied the deep freeze affecting capital markets at the end of the year to achieve record earnings.

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European shares retreat, Greece in focus again

European shares retreated on Wednesday after hitting a 5-1/2-month high in the previous session, led by Tullow Oil < after a trading update and as uncertainty around Greek debt talks weighed on broader equity market sentiment.

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Indonesia sovereign debt rating Is raised to investment grade by Moody’s

Indonesia won a credit rating upgrade at Moody’s Investors Service, which returned the country to investment level for the first time since the Asian financial crisis as the economy withstands a faltering global recovery.

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