Credit Agriclosed

Posted by Nogger - a legend in his own mind at 15:25 | Categorized as

15/12/11 -- In a sign of the times French bank Credit Agricole, who's very origins are based in finance for farming, says that it is stopping trading in commodities.

The bank also says it is pulling out of 21 of the 55 countries where it operates and announced 2,350 job cuts yesterday. On a brighter note though 850 of those losing their jobs will be French, so every cloud eh?

Elsewhere, Germany’s second-largest bank Commerzbank is said to be in talks with the government there for a potential state bailout early in the new year, says today's FT.