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WireTap 1400 03/04/12

A round-up of the key stories across the specialist financial media, including news that a top JP Morgan banker has resigned after being fined by the FSA.

Top JP Morgan banker resigns to fight abuse fine

One of London's most prominent bankers was fined £450,000 on Tuesday for passing on inside information in a case that will embarrass his employer JP Morgan Cazenove and which marks a new resolve by authorities to target high-profile figures.

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U.S. economy enters sweet spot as China slows

The US once again may be emerging as a main engine for global growth as Europe slides into recession and China’s economy decelerates.

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Stock futures down after S&P hits 4-year high; FOMC eyed

Stock index futures fell on Tuesday after the S&P 500 climbed to a 4-year high in the previous session as investors awaited factory orders data and minutes of the latest Federal Reserve meeting.

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China services data lift Asia shares

Asian stocks were generally higher after data on China’s service sector and US manufacturing activity beat estimates.

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Home prices seen dropping 10% in U.S. on foreclosures: mortgages 

Sales of repossessed properties probably will rise 25 percent this year from 1 million in 2011, according to Moody’s Analytics Inc. Prices for the homes could drop as much as 10 percent.

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