economy To faster change

European banks Societe Generale, UniCredit and Intesa Sanpaolo, which suffered heavy losses in August, will be removed from the region's blue-chip STOXX Europe 50 index, the index complier STOXX said.
Finnish phonemaker Nokia, which has lost more than 40 percent of its value this year, will also be deleted from the top pan-European index with effect on Sept.
Italian banks were also weighed by worries that the currency's bloc debt problems were spreading to Italy.
UniCredit and Intesa Sanpaolo, the two biggest banks in the country, shed 25 and 30 percent in August.