UniCredit to cut offices across Europe

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Source: Bloomberg

Italy's biggest lender, UniCredit SpA announced its plans to reduce the number of bank's corporate offices by more than 50% over next four years, saving €50 m ($67 million) per year starting from 2015. UniCredit SpA is considering cut 85 of its 160 main offices (292 000 square meters) by shutting rental contracts and selling portion of its real-estate. 

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Wed, 07 Dec 2011 08:18:20 GMT

Euro gains on rising optimism about summit

The 17-nation currency appreciated against US dollar and Japanese yen amid investor hopes that European leaders during summit will agree on bailout fund expansion to support most troubled countries. Euro gained 0.3% against greenback on Wednesday Tokyo trade reaching $1.3436 and advancing 0.3% against Yen, to ВҐ104.43. EUR/USD currently is trading at 1.3450 and EUR/JPY is trading at ВҐ104.48.

Wed, 07 Dec 2011 08:11:34 GMT

Greek budget for 2012 approved

Greek PM Lucas Papademos gained parliamentary approval for the country's 2012 budget. Premier's plan is aimed at reducing the deficit shortfall close to 50% from a debt write-off and ensuring Greece stays in the Eurozone. The motion was approved by 258 in favour and 41 against in 300-seat Parliament. Next year budget predicts 5.4% deficit of Greece's GDP in comparison with 9% deficit in 2011.

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