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USA UK and Malta News
03/11/2008 - 19:30

UK Today Editoweb 3 november 2008

Brazilian merger to create Latin America's biggest bank - Dollar rises against euro but gains limited on recession fear - Rebel Alitalia unions meet to decide next move.



Brazilian merger to create Latin America's biggest bank

Brazilian banks Itau and Unibanco announced Monday they were merging to create the biggest bank in Latin America, with combined assets of more than 260 billion dollars.

Dollar rises against euro but gains limited on recession fear

The dollar edged higher against the euro Monday in volatile trading ahead of the US presidential vote, but gains were limited by mounting fears of recession in the world's largest economy.

Rebel Alitalia unions meet to decide next move

More than 1,000 Alitalia pilots and flight attendants held a raucous meeting on Monday to plan their next move after failing to scuttle a rescue plan for the near-bankrupt national flag carrier.

Oil prices slide more than three dollars

Oil prices fell by more than three dollars in London on Monday as traders took profits after a pre-weekend rally and tracked concerns about the impact of a global recession on energy demand, analysts said.

Norway ready to lend Iceland 500 million euros

Norway is ready to give Iceland a long-term loan of 500 million euros (635 million dollars) to help it pull itself out of financial crisis, the Norwegian finance ministry said on Monday.

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