Spanish Banks Have $41B of ‘Unsellable’ Real Estate: Spanish banks, under pressure to cut property-backed debt, hold about 30 billion euros ($41 billion) of real estate that’s “unsellable,” according to a risk adviser to Banco Santander SA (SAN) and five other lenders.
Reforms spark riots in Italy, Greece: Student protesters took to the streets in Milan when he first unveiled the measures, clashing with riot police and throwing flares at police as they tried to reach Bocconi University, Mr Monti heads. - At least 50,000 people marched past shuttered shops in central Athens beating drums, waving red flags and chanting "EU, IMF out!".
UBS slashes jobs, cuts profit targets: UBS said its investment bank staff would be cut to 16,500 by the end of 2013 and 16,000 by the end of 2016 from 18,000 now, with most job losses achieved by attrition and restructuring rather than redundancies.
'Public Repossession': Occupy London protesters take over third space: Occupy London has announced that it has taken over an abandoned office block in east London belonging to the investment bank UBS.
San Francisco police arrest 100 in Bank of America protest: Protesters in the Occupy Wall Street movement seized a Bank of America branch in the city's financial district Wednesday, a demonstration that forced jittery customers and employees to flee and ended in nearly 100 arrests.
Police cracking down on media at Occupy Wall Street : Not only are police cracking down on the Occupy movement protesters but also on journalist. According to some reporters police have denied them access to cover the Occupy movement. In New York reporters with NYPD press passes are being physically removed from the scene and some even arrested. RT producer Lucy Kafanov is back in NYC to give us the latest.
More on How Mayors and Police Chiefs Coordinated Crackdowns: Today, the AP has a few more details on how the mayors of 18 cities "informally" coordinated and swapped advice for clearing out those pesky Occupy tents, including warning each other that the presence of homeless, the addicted and the ill would be a "tipping point."
Detroit mayor: 1,000 job cuts amid budget crisis: Detroit plans to cut 1,000 jobs by early next year to help deal with the city's budget crisis and avoid the possibility of a state-appointed emergency financial manager, Mayor Dave Bing announced Friday.
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