Siemens plans to cut 16,750 jobs

Credit Suisse cuts 650 jobs in UK
Troubled Swiss banking giant Credit Suisse has confirmed that it will cut 650 jobs from its UK workforce.

Commerzbank deal accelerated
Germany's Commerzbank agrees to accelerate its purchase of Dresdner Bank from insurer Allianz in a deal worth 9.8bn euros.

Spain unveils 11bn euro stimulus
Spain launches an 11bn euros (£9.2bn) economic boost plan aimed at creating 300,000 jobs in 2009.

EU fiscal rules 'must be eased'
France and Germany's leaders call on the EU to ease fiscal rules to allow nations to spend more to boost their economies.

Consumer confidence up in Germany
German consumer sentiment rises slightly for the third month in a row despite the country being in a recession, a survey says.