RBS to eliminate 3500 jobs

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Source: Bloomberg
Royal Bank of Scotland Group Plc prepares to cut about 3500 jobs in the upcoming three years as it quits unprofitable mergers advisory and cash equities operations. RBS also is planning to close or sell units linked to capital market and corporate broking operations. Bank is turning focus to customer service and more conservative funding, said its CEO Stephen Hester. RBS is the largest state-owned bank in UK.
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Thu, 12 Jan 2012 19:15:06 GMT

Italy's industrial production increases by 0.3% in November

Italian industrial production rebounded after declining for two months in line. Country' industrial output advanced by seasonally adjusted 0.3% in November while analysts expected 0.1% decrease, reported Istat. Considering yearly changes, industrial output fell by 4.1% in November confronting forecasts of 2.9% decline.

Thu, 12 Jan 2012 15:33:35 GMT

Loonie falls as European concerns stimulated demand for US Dollar

Canadian Dollar depreciated on Wednesday breaking three day gains as investors boosted their demand for US Dollar amid worries European debt turmoil is worsening. Canadian currency lost 0.4% reaching C$1.0196 per US Dollar in Toronto evening trade amid bets French sovereign ratings still might be cut. Currently USD/CAD is trading at C$1.0184. 

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