Australian banks to cut 7000 jobs

Source: Bloomberg
Australian banks are likely to cut around 7000 jobs during forthcoming two years as country's financials are attempting to reduce expenses by 58% to outweigh the slowest credit growth since 1940s. UBS experts predict banks may cut the total jobs from 179 000 to 172 000 or by 3.9%. Banks are one of the main employers in Australian biggest cities.
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Mon, 16 Jan 2012 08:01:24 GMT

German FM again rejects joint bonds and ECB intervention

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Mon, 16 Jan 2012 07:59:16 GMT

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