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Banking

WireTap 0900 04/04/12

A round-up of the key stories across the specialist financial media, including news that a US regulator plans to penalise JP Morgan for actions linked to the collapse of Lehman Brothers.


Regulator to penalize JPMorgan over Lehman demise: NYT

A US regulator is set to penalize JPMorgan for actions linked to the demise of investment bank Lehman Brothers at the height of the financial crisis in 2008.

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Germany asked to forgo $1.3 billion Deutsche Telekom dividend

Deutsche Telekom worker representatives are asking Germany's government to forgo at least part of its almost €1 billion in annual dividends in exchange for a bigger stake in the former phone monopoly to help finance the cost of faster networks.

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Chinese premier blasts banks

Chinese Premier Wen Jiabao told a national audience on Tuesday that China's state-controlled banks are a monopoly that must be broken up, in a blunt appeal for a shake-up of the creaky financial system of the world's second largest economy.

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Fed signals no need for more easing unless growth falters

The Federal Reserve is holding off on increasing monetary accommodation unless the U.S. economic expansion falters or prices rise at a rate slower than its 2 percent target.

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Fitch ditched in bond dispute

Fitch Group's new chief executive said Credit Suisse Group AG dropped the firm's rating from a mortgage-backed security because Fitch took a harsher view than two rivals that assigned triple-A ratings to the deal.

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