23 Apr 2007

Kapitalism in Action


Britain's Barclays bank has agreed to merge with Dutch bank ABN Amro.
The £45bn (66bn euros; $90bn) deal will create one of the world's largest banks, with combined value of £94bn and its headquarters in the Netherlands.



The companies said about 12,800 jobs would be cut as a result of the merger, while a further 10,800 jobs would be moved to low-cost locations.


More on BBC, and see ABN Press room