Olympus sues its current and former managers claiming $1.7bn

Source: Bloomberg

Olympus Corp. announced it will request to cover losses valued at $1.7bn, created by firm's president, Shuichi Takayama and 18 other past and present executives which are accused for involving in a scheme to shroud investment losses. Olympus gained 21% in Tokyo morning trade lifted by investor hopes that company will remain publicly traded in stock exchange. 

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Tue, 10 Jan 2012 07:52:08 GMT

European stocks finish down on Monday

European equity markets closed lower on Monday led by UniCredi SpA after Merkel-Sarkozy meeting. Although Merkel emphasized the progress reached in talks she also admitted Greece must implement its debt reduction soon otherwise it will not receive the second bailout package. Stoxx Europe 600 index lost 0.5% or 1.11 points and settled at 246.42, while French CAC 40 index dropped 0.3% or 9.67 points to 3,127.69.

Tue, 10 Jan 2012 07:51:08 GMT

Alcoa reports first three-monthly loss since 2009

Alcoa Inc. the leading US aluminum manufacturer reported first trimestral loss since 2009 as prices for the metal tumbled. The net loss of fourth quarter of 2011 $191 million or $0.18 per share, compared to net revenue of $258 m year before. Alcoa shares fell 44% last year making company the second worst performer within Dow Jones Industrial Average Index.

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