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Banking

WireTap 0900 22/02/12

A round-up of the key stories across the specialist financial media, including news that analysts expect Eureope's largest lenders to take part in the Greek bond swap.


Banks likely to take part in Greek debt swap

Europe’s largest lenders and insurers are likely to accede to the Greek debt swap because they’ve already written down their sovereign holdings and want to avert the risk of a default, according to analysts.

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Rogue trade attempt at Threadneedle probed

City of London police are investigating a suspected $150m trading fraud attempted by a former trader at Threadneedle, the asset manager.

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Obama proposes tax Revamp

The US government will propose lowering the top income-tax rate for corporations to 28% from 35% but would raise overall tax revenue by eliminating dozens of popular deductions in an effort to restructure the corporate tax code.

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Citigroup faces Smith Barney hit

Citigroup is facing a potential multibillion-dollar write-down as it begins unwinding its minority investment in the Morgan Stanley Smith Barney brokerage.

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Greek deal leaves investors fearful of two-tier bonds

Investors and analysts are concerned that in the rush to patch up Athens longer-term damage is being done to Europe’s bond markets.

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