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Banking

WireTap 0900 06/01/12

A round-up of the key stories across the specialist financial media, including how Bank of America's newest risk is the UniCredit sale




Germany is biggest obstacle to emergency fund: Knot

European Central Bank Governing Council member Klaas Knot said Germany should support raising the European emergency fund to help end the region’s debt crisis.

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Bank of America's newest risk: UniCredit sale

Much is at stake in UniCredit SpA's €7.5 billion ($9.7 billion) rights issue—not least for another beleaguered lender, Bank of America Corp., which as a lead underwriter could be stuck with a hefty bill should the share sale fall flat.

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PwC fined £1.4m for audit failure

The UK arm of PwC, the auditor, has been fined £1.4m and severely reprimanded for its failure to discover that billions of dollars of client money had not been ringfenced properly at JPMorgan Chase, the US bank. 

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JAL may propel Japan’s busiest year for IPOs since 2007

Japan may have its busiest year for initial public offerings in five years as social network providers and manufacturers join Japan Airlines Co. in preparing share sales.

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Woodford to sue Olympus for unfair dismissal 

Woodford told a group of journalists on Friday that he would sue Olympus for unfair dismissal and had instructed his lawyers to begin legal action in Britain. Olympus said in October it was sacking Woodford because he had failed to understand the company's management style and Japanese culture.

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China’s stocks rebound on speculation lenders’ reserve ratio will be cut 

China’s stocks (SHCOMP) rose for the first time this year on speculation the central bank will cut banks’ reserve-requirement ratios as early as today to boost lending to small companies hurt by a cash crunch.

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