Finance


    • Speculations fuel GameStop shares robust growth

      Speculations fuel GameStop shares robust growth

      Record gains in shares of GameStop and some stocks, this week opened the Pandora box of populist market revolts, Reuters reported. Many investors have not yet realized their profits by selling shares, and some platforms could later face disillusioned retail customers who bought into the rally too late.

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    • Commerzbank to cut 10,000 jobs by 2024

      Commerzbank to cut 10,000 jobs by 2024

      German Commerzbank announced massive restructuring plan for the period through 2024, aimed to cut annual costs, increase digitalization, slash branches and boost reserves. Commerzbank’s new CEO, Manfred Knof, wants to cut 10,000 jobs and close hundreds of branches as part of a strategy revamp announced just weeks after he took on the job at Germany’s second biggest bank, Reuters reported.

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    • Austria, Greece, Slovenia bond sales bet on strong demand

      Austria, Greece, Slovenia bond sales bet on strong demand

      Bond sales for Austria, Greece and Slovenia won strong demand on Wednesday, joining larger peers who issued debt via syndication earlier in the month, news wires reported. Austria received €32bn of investor orders, eight times the €4bn it will raise, and Greece received €28bn of orders for new 10-year bonds.

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    • Goldman Sachs loses €105m EU cartel suit

      Goldman Sachs loses €105m EU cartel suit

      The US investment bank Goldman Sachs lost its fight against an EU cartel fine, Reuters reported.  The fine was handed down to Goldman’s Italian subsidiary and the cable maker Prysmian. In 2014 the EU antitrust body fined Prysmian with 104,6 million euro over a cartel with 10 other cable makers.

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    • JPMorgan freezes CEO annual pay at $31.5m

      JPMorgan freezes CEO annual pay at $31.5m

      The CEO of the US biggest investment bank JPMorgan Chase Jamie Dimon will not receive the expected raise of his annual pay as the bank’s board decided to keep his total revenue at 2019 levels, Reuters reported. JPMorgan to a great extend managed to avoid mounting losses linked to the Covid-19 pandemic.

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    • Morgan Stanley beats profit forecasts

      Morgan Stanley beats profit forecasts

      The investment bank Morgan Stanley announced better than expected financial results, Reuters said. Profits surged in the fourth quarter of 2020 beating experts’ predictions. Morgan Stanley also confirmed plans to buy back $10 billion worth of shares this year, after the Federal Reserve allowed major banks to resume doing so in December.

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    • Yellen pushes hard on passing $1,9trln relief plan

      Yellen pushes hard on passing $1,9trln relief plan

      US President-elect Joe Biden’s choice as Treasury secretary Janet Yellen, has confirmed that the incoming administration would focus on securing a fast passage of its earmarked $1,9 trillion pandemic relief plan, Reuters reported. Yellen has dismissed arguments that the measure is too heavy and would affect badly the mounting US budget deficits.

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