Greek parliament ratifies budget cut of USD 4.3 billion

Source: Bloomberg
Greece's lawmakers approved EUR 3.2 billion (USD 4.3 billion) spending cuts for the year 2012 and took one step further to securing the bailout package and save country from default. 202 members of parliament voted in favour of budget cuts and 80 voted against. Today Greek parliament is set to agree on expenditure reduction in health care and reforms in pension funds demanded by IMF and EU.
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Wed, 29 Feb 2012 07:48:44 GMT

IBM is said to have fired 1000 workers this week

International Business Machines Corp. (IBM) fired approximately 1000 workers in its North America unit this week, said Advocacy group. The jobs cuts happened mostly in US while some of them were in Canada. Doug Shelton, New York based IBM spokesman, declined to name exact number of fired employees and claimed the job elimination is a part of company's policy in order

Wed, 29 Feb 2012 07:23:25 GMT

Euro appreciates to three-month record high versus Greenback

17-nation currency climbed close to three-month record high against the US Dollar on investor hopes the second round of ECB three-year loans to lenders due today will bolster demand for Euro Zone assets. Euro strengthened 0.2% against is US peer to USD 1.3483 during Asian session. Currently EUR/USD is trading at USD 1.3473.

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