European policymakers talk about building a stronger rescue system for the eurozone, while the entire board of Olympus Corp considers quitting in the near future.
Asian stocks, the euro, copper and oil rise on renewed hopes that European leaders will agree on a solution to the region’s debt crisis at this week’s summit, says Bloomberg.
US bank Citigroup plans to axe 4,500 jobs across its global operations as part of its cost-reduction programme, according to the BBC.
Olympus Corp’s entire board indicates that it may resign because of the $1.7 billion (£1 billion) accounting fraud blighting the Japanese camera maker, Reuters reports.
European leaders discuss a three-pronged rescue system for the eurozone that includes two separate bailout funds and increased support from the International Monetary Fund, according to the Financial Times.
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