VIDEO | by Reuters

UniCredit Cuts Jobs and Seeks $10.3bn Euros

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VIDEO DESCRIPTION:
Italian bank UniCredit is to ask shareholders for 7.5 billion euros in new capital, cut 6,150 jobs worldwide and retreat ...
from key business areas in a bid to repair its ravaged balance sheet and return to profit. Italy is facing some tough financial challenges - so it seems is its largest bank. Profits at UniCredit have all but evaporated and capital has shrunk to dangerous levels. The bank made third quarter losses of 10.6 billion euros.
Posted: 11/14/2011 | Views: 919 | Duration: 01:04
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