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Banking

WireTap 1400 17/01/11

A round-up of the key stories across the specialist financial media, including news on the EFSF selling €1.5 billion of debt following its downgrade by Standard & Poor's yesterday.



EFSF defies downgrade with €1.5bn debt sale

The eurozone rescue fund has sold €1.5 billion of debt today despite being downgraded from AAA status yesterday evening.

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Panel clears audit firms of Olympus scandal blame

An unofficial panel of experts has cleared KPMG and Ernst & Young of any responsibility in the Olympus accounting fraud, but the role of the firms remains under official review.

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China steps up foreign investor push

China has granted approval to numerous foreign institutions to invest in equities as it attempts to attract more foreign investment into Chinese equities.

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UK inflation drops sharply

UK inflation saw its sharpest drop in two years in December, with CPI rising 4.2%.

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Wells Fargo posts higher profit on mortgages

Wells Fargo & Co has posted a 20% increase in fourth-quarter profit citing a boost from mortgage financing.

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Citigroup fourth-quarter profit falls 11 percent

Citigroup’s fourth-quarter profits fell 11% with declining revenue from slower capital markets.

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