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Banking

WireTap 0900 24/02/12

A round-up of the key stories across the specialist financial media, including news that G20 officials are planning to press Eurozone countries to work harder to merit outside help.


Europe faces pressure as G-20 mulls IMF role

US, Chinese and Japanese officials say they will press euro-area countries to do more to merit outside help when the world’s largest economies gather tomorrow.

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Former MOF official says yen still too strong

Even with the yen’s slide to a seven-month low this week, the currency remains too strong, said former official Takatoshi Kato.

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Lloyds banking posts $4.41 billion net loss

Lloyds Banking Group has posted a full-year net loss of £2.8 billion, hit by impairment charges for mis-sold insurance and restructuring costs.

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Madrid presses EU to ease deficit targets

Spain is pressing the EU to ease the country’s strict budget deficit target for this year, arguing that the European Union executive’s pessimism about the Spanish economy shows the risks of too much austerity.

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AIG posts huge 4th-quarter profit on tax benefit

Bailed-out insurer American International Group has reported a $19.8 billion profit for the fourth quarter, after an accounting change that allowed the company to record an enormous one-time benefit.

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