A round-up of the key stories across the specialist financial media, including news that Japan is likely to report its first annual trade deficit in more than 30 years.
End of era for Japan's exports
The Japanese government is expected to announce tomorrow that the country has recorded its first annual trade deficit since 1980, with economists warning that under current conditions this could be repeated in years to come.
Christine Lagarde, head of the IMF, has warned Europe that, as well as cutting deficits, Europe needs to do more to promote growth and prevent contagion to the world economy.
Societe Generale and Credit Agricole, France’s second and third biggest banks, have both seen their credit rating cut to A from A+, with S&P citing the lessened level of government support following the French sovereign downgrade.
