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Commerzbank CEO finalises plans to cut 10,000 jobs, close branches By Reuters

By Tom Sims and Patricia Uhlig FRANKFURT (Reuters) - Commerzbank (DE:CBKG) Chief Executive Manfred Knof on Wednesday finalised plans to cut 10,000 jobs and close hundreds of branches, a radical overhaul that came a month after he took the reins of Germany's No. 2 bank. The bank also announced that it would post a net loss of nearly 2.9 billion euros...

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Bank of England to focus on recovery hopes even as lockdown drags on By Reuters

By William Schomberg LONDON (Reuters) - The Bank of England on Thursday is likely to set its sights on the prospects of economic recovery later this year, and any backing it gives to the idea of negative interest rates as a new stimulus weapon will probably be cautious. The bulk of Britain's businesses are once again hobbled by a third national coronavirus...

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Asian stocks ease as caution persists despite calmer markets By Reuters

By Imani Moise NEW YORK (Reuters) - Asian stocks came under pressure on Thursday as a mixed Wall Street session gave investors few immediate reasons to increase their risk positions following the recent social media-driven trading chaos. Markets have calmed significantly in the past few days with the Cboe Volatility index down on Wednesday as wild swings in stock prices of GameStop...

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PayPal Holdings Inc Earnings, Revenue beat in Q4 By Investing.com

PayPal Holdings Inc (NASDAQ:PYPL) reported on Wednesday fourth quarter earnings that beat analysts' forecasts and revenue that topped expectations. PayPal Holdings Inc announced earnings per share of $1.08 on revenue of $6.12B. Analysts polled by Investing.com anticipated EPS of $0.9955 on revenue of $6.08B. PayPal Holdings Inc shares are up 5.22% from the beginning of the year...

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PayPal Earnings Beat in Q4 as Pandemic Boosts Online Payments By Investing.com

Yasin Ebrahim Paypal reported a sharp jump in earnings as the pandemic-fueled increase in e-commerce shopping drove up online payments.     PayPal Holdings Inc (NASDAQ:PYPL) was up 1.8% on the news after a run-up of nearly 9.72% year to date. Earnings per share rose to $1.32 per share from 43 cents per share a year earlier, while revenue was...

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UK PM Johnson’s adviser on the union Luke Graham quits – FT By Reuters

(Reuters) - British Prime Minister Boris Johnson's chief adviser on the union, Luke Graham, has departed after a dispute inside Downing Street over the UK government's strategy to counter growing calls for Scottish independence, the Financial Times reported https://on.ft.com/2MSwdv8 on Wednesday. Oliver Lewis, an adviser to Boris Johnson, would be leading after Graham's departure, the FT said, citing government officials. The UK...

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Air France, unions rail against EU bailout conditions By Reuters

By Laurence Frost PARIS (Reuters) - Air France and its pilot unions protested on Wednesday against EU demands that the airline give up takeoff and landing slots at its Paris base in return for government aid. Brussels wants the French airline, part of Air France-KLM, to cede 24 Orly airport slots as a condition for approval of a state-backed recapitalisation, La Tribune...

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Qualcomm shares drop as chip supply constraints hold back sales By Reuters

By Stephen Nellis (Reuters) - Qualcomm (NASDAQ:QCOM) Inc shares dipped as much as 9% in after-hours trading on Wednesday as the company said that semiconductor supply constraints that have roiled the industry contributed to fiscal first-quarter sales that slightly missed Wall Street expectations. The results come as chip shortages force automakers such as General Motors Co (NYSE:GM) on Wednesday to cut production...

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EBay shares jump on holiday-quarter beat, strong first-quarter sales forecast By Reuters

(Reuters) - E-commerce firm eBay Inc (NASDAQ:EBAY) on Wednesday topped Wall Street expectations for the holiday quarter and forecast upbeat current-quarter sales, helped by a surge in online shopping during the COVID-19 pandemic. Shares of the company jumped over 9% to $63.46 in extended trade on the news. The global health crisis has forced millions of Americans to stay indoors, leading to...

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