France and Germany push for stronger economic ties

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Source: Bloomberg
France and Germany are emphasizing the need of stronger economic ties among common currency countries and pushing for stricter enforcement of budget cuts to stop debt crisis escalation. President Sarkozy called for stronger discipline and penalizing countries that do not follow fiscal rules. German Chancellor Merkel reminded that ECB should not accept political pressure.
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Fri, 02 Dec 2011 12:19:55 GMT

Reuters boss to step down

Tom Glocer, CEO of news group Reuters, announced he is stepping down after running the company for 10 years. He will step down on 1 January and the current chief operating officer, James Smith will replace him. The change follows the worries about a decline in the company's share price by 29% this year.

Fri, 02 Dec 2011 12:42:52 GMT

Ruble weakens against dollar

The Russian Ruble depreciated against US dollar for a second consecutive day after Urals crude dropped yesterday. Russian domestic currency gave up 0.2% reaching 30.806 per dollar. Urals crude which is the country's main exporter lost 1.3% yesterday reaching $109.52 per barrel as French President Sarkozy claimed the Eurozone risks collapse if member countries will not manage to agree on

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