US jobless claims jump to six week high; RBs to axe 3,500 jobs

PUBLISHED ON: January 12, 2012 | Duration: 22 min, 56 sec

  
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US jobless claims have jumped by 24,000 to 399,000, the most in six weeks. This is followed by a weak rise in US retail sales. It is the weakest pace in seven months in December as customers cut purchases in the holiday season. In Europe, the ECB leaves interest rates unchanged while President Mario Draghi warns of substantial downside risks to Euro Zone. Meanwhile, RBS announced that it will axe 3,500 investment bank jobs and sell or shut its equities and advisory business.
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