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Banking

WireTap 1400 31/01/12

A round-up of the key stories across the specialist financial media, including reports that data from December 2011 suggests that the Eurozone is verging on a recession.


Euro-zone data point to recession

New economic data brought has more signs that the eurozone could be verging on a recession, with December consumer spending in the France and Germany dropping significantly and unemployment rising in the region as a whole.

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S&P warns cuts loom for G20 nations on health costs

Standard & Poor's has warned that it may downgrade a number of G20 countries from 2015 if their governments fail to reform healthcare spending.

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FSA fines and bans ex-JC Flowers executive

The former UK chief executive of private equity house JC Flowers has been ordered to pay a £2.9 million fine and banned from working in the industry following a fraudulent invoice scheme.

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Sarkozy tax may drive investors from stocks

The French stock market, Europe’s second-biggest by value, may see a fall in popularity after President Nicolas Sarkozy unveiled plans to impose a 0.1 percent tax on financial transactions.

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China repo rate declines most in six months after cash injection by PBOC

China’s repo rate had its biggest monthly drop since July after the central bank added the most cash to the financial system in almost four years.

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