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WireTap 1400 09/01/12

A round-up of the key stories across the specialist financial media, including breaking news on how SNB's Hildebrand has resigned.

SNB chief quits after currency trade scandal

Swiss National Bank Chairman Philipp Hildebrand is resigning with immediate effect after a scandal over a controversial currency trade made by his wife, the SNB said on Monday.

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Wall Street Prepares to Take Sharp Pay Cut

A dismal year means Wall Street is about to take a big hit to its wallet.

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Germany issues debt with negative yield 

Germany issued debt on Monday for the first time with a negative yield, meaning that investors were in effect paying Berlin for the privilege of lending it money.

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Dealers call for ECB to buy inflation bonds as Italy faces exit from key index

Further downgrades for Italy would cause its inflation-linked bonds to drop out of a Barclays Capital index, prompting mass selling by fund managers, dealers fear

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Finance sector to step up job cuts - survey

British financial firms plan to shed jobs at a faster pace after the escalating euro zone sovereign debt crisis dented their confidence during the final three months of 2011, according to a survey published on Monday.

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