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WireTap 0900 08/02/12

A round-up of the key stories across the specialist financial media, including news that Ivan Glasenberg plans to step down as CEO of Glencore.

Glencore’s Glasenberg Gets Back to Trading Roots

Just eight months after taking Glencore public in a $10 billion stock offering, Ivan Glasenberg is stepping aside as chief executive officer to become deputy CEO and president.

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RBS shake-up has cost £38bn so far

Stephen Hester has revealed that the restructuring of Royal Bank of Scotland has cost £38bn in a memo to staff.

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Goldman beefs up asset management business

Goldman Sachs planning is to strengthen its asset management business as part of a strategy to tap into the retirement savings of ageing baby boomers.

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Italy Pushes for Europe Growth Policy

Italian Prime Minister Mario Monti has proposed tougher rules aimed at opening up member states' national industries, as a way to encourage growth and competition in the euro zone.

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China sets target of average 13 percent annual minimum wage rise

The annual average growth of China's minimum wages should be at least 13 percent in the five years to 2015, according to a government job market plan for the period.

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