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Banking

WireTap 1400 02/04/12

A round-up of the key stories across the specialist financial media, including news that an eighth straight month of contraction in the eurozone's manufacturing sector is reducing hopes for a strong recovery.


European outlook dims as Asia brightens

An eighth straight month of contraction in the eurozone's manufacturing sector eclipsed brighter news from Asia today, dimming chances of a strong rebound in the global economy.

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Global business groups warn India over tax plan impact

International trade groups representing more than 250,000 companies have warned Indian prime minister Manmohan Singh that new taxation proposals by his government have led foreign businesses to reconsider their investments.

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EU lenders kick troubles down road

Even as the European banking crisis shows signs of easing, lenders across the continent are engaging in a variety of maneuvers to avoid, or at least delay, coming to terms with potential problems lurking on their books.

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Manufacturing expands but costs rise

Britain’s manufacturing sector expanded in March for the fourth month in a row, according to a survey, though companies had to contend with a sudden surge in the price of oil, metals, plastics and components.

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Turkish growth slows

Turkey's economy cooled to post a 5.2% expansion in the fourth quarter, undershooting expectations but suggesting the fast-growing economy may successfully navigate a soft landing despite lingering risks to the outlook.

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