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Banking

WireTap 0900 12/04/12

A round-up of the key stories across the specialist financial media, including news that the trustee liquidating MF Global's brokerage will ask a bankruptcy court on Thursday to release $685 million to former MF Global customers


Latest MF Global payback plan goes before judge

The trustee liquidating MF Global's brokerage will today ask a bankruptcy court to release $685 million to former MF Global customers, a plan already introduced in court filings that has been criticized as neglecting affiliates of the failed firm. 

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European stocks mostly higher; market down in Portugal 

European stock markets opened firmer on Thursday, but in Portugal stocks traded sharply lower, down 2.2%. 

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Asian shares under pressure ahead of rocket launch 

Asian shares were under pressure as investors remained cautious ahead of North Korea’s imminent rocket launch while recent data from the US and China indicated a slowdown in economic activity.  

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State Bank of India to buy loans from European lenders 

State Bank of India, the nation’s largest lender, plans to buy loans from banks in the US and Europe to boost its overseas credit assets and profitability.

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Mitsui Sumitomo to buy 26% stake in India’s Max New York Life

MS&AD Insurance Group Holdings, Japan’s biggest casualty insurer, is to buy a 26% stake in Max New York Life Insurance from the owners of the closely held venture in India.

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Japanese economy picking up, exports better

Japan's government today stuck to its assessment that the economy was slowly recovering but gave a more positive view on exports, saying overseas shipments were showing signs of stabilizing on a moderate pick-up in the US and some return in Asian demand.

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