RBS plans to lay off 10,000 employees

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Source: Marketwatch

Royal Bank of Scotland Group PLC may reduce its payroll by 10,000 jobs in line with its strategy of investment banking sector contraction, reported Financial Times. Redundancies will focus on equities segment of investment division as it was unable to compete with major rivals in the sector. However, the bank's representative said that the number of 10,000 was exaggerated.

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Fri, 06 Jan 2012 08:37:51 GMT

European markets decline on bank announcements about losses

European shares saw a drop on Thursday session as Deutsche Bank, UniCredit and Santander reported sharp losses. Stoxx 600 index gave up 0.9% or 2.23 points and closed at 247.39, French CAC 40 lost 1.5% or 48.74 points reaching 3,144.91. UK's FTSE 100 index tumbled 0.8% or 44.19 points at 5,624.26 while DAX 30 index experienced a smaller decline of 0.25% or 15.56 points to

Thu, 05 Jan 2012 16:19:36 GMT

Crude oil sinks under $103 a barrel

Crude oil futures declined after supply news from the US but Iranian issue limited losses. Crude oil inventories decreased to 4.4 million barrels last week while gasoline inventories jumped to 3.4 million barrels, announced American Petroleum Institute. Crude oil futures for February contract lost 72 cents and currently traded at $102.50 a barrel at the electronic trade.

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