Credit Agricole to cut 2,500 jobs

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Source: Marketwatch

Credit Agricole SA plans to make redundant about 2,500 employees due to spreading debt crisis in the euro-zone. The majority of layoffs will be abroad, said the company representative. Credit Agricole's corporate and investment bank will suffer the most as 600 positions are planned to be cut there.

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Wed, 14 Dec 2011 16:18:21 GMT

Airline shares rise

Airline shares surged following Delta Air Lines announcement of the higher-than-expected profit for this year. NYSE Arca Airline Index almost advanced by 1% to 33.38 points. Stock price of Delta gained 3% while US Airways added 2.4% and United Continental jumped by 2.4%. JetBlue Airways gained 2.3% and Southwest Airlines added 1.6%.

Wed, 14 Dec 2011 16:16:01 GMT

Gold falls to two-month low on stronger greenback

Gold futures fell below the key support levels to the lowest price since October as stronger US dollar and concerns over the euro-zone forced investors to sell gold holdings to increase liquidity. On the Comex division of the New York Mercantile Exchange, gold futures for delivery in February traded at USD1,613.15 a troy ounce at the U.S. morning trade, tumbling 3% since opening.

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