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WireTap 0900 03/05/12

A round-up of the key stories across the specialist financial media, including news that China, Japan and South Korea have agreed to boost cross-investment in government bond markets

China, Japan, South Korea to boost investment in each others' bonds

China, Japan and South Korea agreed on Thursday to boost cross-investment in government bond markets, worth nearly a combined $15 trillion, in a move that will better prepare the countries to protect their financial markets from external shocks.

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ECB to hold fire on growth steps in crisis-hit Spain

The European Central Bank is expected to resist pressure to do more to fight the eurozone crisis when it meets in Barcelona on Thursday, despite calls to restart its bond-buying programme to help austerity-hit Spain.

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UK in furious rejection of EU bank plan

Britain’s relations with Brussels erupted on Wednesday as George Osborne, the chancellor, refused to defend watered-down EU bank rules that would make him “look like an idiot”.

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SocGén profit beats estimates as trading revenue Increases

Société Générale, France’s second-largest bank, reported a smaller decline in profit than analysts estimated as a rebound in fixed-income revenue cushioned losses from the sale of corporate loans.

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Carlyle prices IPO at lower range

Facing push-back from some investors, private-equity company Carlyle Group reduced the price for its widely anticipated public offering, a possible sign of the scepticism some investors harbour toward the business.

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