France's Areva plans to cut jobs, investments and dividends

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Source: BBC

Areva, France's nuclear giant, has announced large cuts of jobs, investments and dividends after it projected a net loss of 1.6bn euros for 2011. The company will cut 1,500 jobs in Germany after Germany said it plans phasing out the nuclear power generation. France's payroll will not be decreased but the salaries will be frozen. The investments for the next 5 years are going to be decreased by 34% to 7.7bn euros.

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Tue, 13 Dec 2011 13:06:09 GMT

Crude oil steady ahead of OPEC meeting

Crude oil futures remained steady just slightly above the two-week low as investors anticipated Fed rate decision and OPEC meeting due on Wednesday. On the New York Mercantile Exchange crude futures for January delivery traded at USD97.91 a barrel at the early European trade, gaining 0.14% since opening.

Tue, 13 Dec 2011 17:38:16 GMT

Spain sells bonds worth €4.94 billion

On Tuesday Spanish central bank sold €4.94 bn ($6.51 bn) of 12 and 18-month notes, more than the Treasury had intended to attract. Central bank sold €3.44 bn 12 month notes at an average yield of 4.05%, compared to 5.02% in November. 18-month bonds created average borrowing cost at 4.2%, or 1 percentage point less than in November.

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