Euro gains on rising optimism about summit

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Source: Bloomberg
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The 17-nation currency appreciated against US dollar and Japanese yen amid investor hopes that European leaders during summit will agree on bailout fund expansion to support most troubled countries. Euro gained 0.3% against greenback on Wednesday Tokyo trade reaching $1.3436 and advancing 0.3% against Yen, to ВҐ104.43. EUR/USD currently is trading at 1.3450 and EUR/JPY is trading at ВҐ104.48.

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Wed, 07 Dec 2011 09:10:27 GMT

New Zealand may keep borrowing costs unchanged

Reserve Bank of New Zealand Governor is likely to stick to its current benchmark interest rate at 2.5% as global economic outlook worsens, predict economists questioned by Bloomberg. In case the country leaves interest rate unchanged, it will join Indonesia and South Korea that keep holding their benchmark rate at record low.

Wed, 07 Dec 2011 08:17:28 GMT

UniCredit to cut offices across Europe

Italy's biggest lender, UniCredit SpA announced its plans to reduce the number of bank's corporate offices by more than 50% over next four years, saving €50 m ($67 million) per year starting from 2015. UniCredit SpA is considering cut 85 of its 160 main offices (292 000 square meters) by shutting rental contracts and selling portion of its real-estate. 

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