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Banking

WireTap 0900 10/04/12

A round-up of the key stories across the specialist financial media, including news that German two- and five-year yields dropped to record lows


German two-, five-year yields drop to record lows on growth concern

German two- and five-year yields dropped to record lows as weaker-than-expected US job growth heightened concern that the global economy was slowing and boosted demand for the safety offered by Europe’s benchmark government debt.

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Slowing imports push China back to trade surplus

China’s trade balance shifted back into positive territory in March as exports from the world’s biggest trader of goods accelerated and imports slowed, according to government data released on Tuesday.

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Indian money-market rates drop from highest in 38 months

India’s money-market rates are dropping from the highest in 38 months as prime minister Manmohan Singh accelerates spending to revive growth in Asia’s third-biggest economy.  

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Facebook to buy Instagram for $1 billion 

Facebook is paying $1 billion for Instagram, a fast-growing online photo-sharing site, in its largest acquisition to date. 

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New Sony CEO to cut 10,000 jobs

Sony Corp plans to reduce its workforce by an estimated 10,000, roughly 6% of its global total, as part of a broader restructuring plan by chief executive Kazuo Hirai, people familiar with the matter said on Monday.

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