American Airlines to cut 13,000 jobs

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Source: BBC
American Airlines announced it would cut 15% of its payroll, or 13,000 jobs.  The AMR plans to reduce staffing costs by 20% to cut spending by USD 2 billion and increase revenue by USD 1 billion per year. The company that filed to protection against bankruptcy is ready to provide all due payments to its staff. The company is going to embark on negotiations with labor unions within the next three months.
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Thu, 02 Feb 2012 09:21:30 GMT

Euro Zone's flash CPI eased in January

The Euro Zone's CPI eased in compliance with expectations on January, reported Eurostat. The CPI hit 2.7% on January on a seasonally adjusted basis as compared to 2.8% in the preceding month. However, the rate still remained above the ECB target of 2%. After the data release, the Euro stayed higher against the US Dollar and the pair EUR/USD added

Thu, 02 Feb 2012 10:34:43 GMT

Deutsche Bank reports a 76% drop in profit

Deutsche Bank AG, German biggest lender posted a 76% drop in 4th quarter profit as European debt turmoil harmed trading. Net revenue declined to EUR 147 million compared to EUR 601 million in previous year. Analysts predicted the net income to be at EUR 556 million. Deutsche Bank had a EUR 422 million pretax loss. 

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