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Banking

WireTap 1400 14/02/12

A round-up of the key stories across the specialist financial media, including news that Greece's economy has shrunk by 7%


Greece’s economy shrinks by 7%

Greece’s recession worsened at the end of last year, new figures showed on Tuesday, adding to the pressure on a government caught between riots at home and pressure from eurozone leaders to force through deep spending cuts in exchange for a fresh €130 billion bailout.  

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UK inflation eases to 3.6% 

Britain’s annual inflation rate eased to 3.6% last month, continuing its steep decline from a peak of more than 5% in the autumn.

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US stock futures edge up; Europe, data in focus

US stock-market futures edged higher on Tuesday, as investors mulled upbeat economic indicators out of Europe, along with a crop of sovereign rating and outlook downgrades, and awaited earnings and retail-sales data.

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Brazilian retail sales rise more than expected as consumer-goods tax falls

Brazilian retail sales rose more than analysts expected in December, adding to evidence that Latin America’s biggest economy rebounded from a contraction in the third quarter. 

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Latvia sees borrowing not topping $1 billion 

Latvia's prime minister said he expects his country to borrow less than a previously forecast $1 billion this year, as the country seeks to limit the economic impact of a rise in the cost of credit triggered by the European debt crisis.  

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