The News

Deutsche Bank to close 20% of domestic branches in coronavirus shift

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Deutsche Bank plans to close one in five branches in its home market in Germany as it seeks to save costs and capitalise on the changing habits of customers during the coronavirus pandemic, an executive said.  Philipp Gossow, who oversees the retail banking business in Germany, told Reuters that the reduction to some 400 branches […]

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Deutsche Bank to close 20% of domestic branches in coronavirus shift

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Deutsche Bank plans to close one in five branches in its home market in Germany as it seeks to save costs and capitalise on the changing habits of customers during the coronavirus pandemic, an executive said.  Philipp Gossow, who oversees the retail banking business in Germany, told Reuters that the reduction to some 400 branches […]

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ECB must ‘very carefully’ assess data on patchy recovery, Lagarde says

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Europe’s economic rebound is uncertain and uneven, requiring “very careful” assessment of incoming data, including the evolution of the coronavirus pandemic, European Central Bank President Christine Lagarde said today.  “The uncertainty of the current environment requires a very careful assessment of the incoming information, including developments in the exchange rate,” Lagarde said in a speech […]

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Number of PUP claimants falls just 3,600 in last week

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The number of people claiming the Pandemic Unemployment Payment (PUP) has fallen by just 3,600 in the last week. In total, 206,341 people received the PUP today, with €61.3m due to be paid to them tomorrow. However, today’s numbers do not take account of the decision to impose more severe restrictions on Dublin last Friday. […]

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WTO says US tariffs on China are not justified and breach trade rules

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The World Trade Organisation (WTO) has undercut the main justification for US President Donald Trump’s trade war against China, saying that American tariffs on Chinese goods violate international rules. A panel of three WTO trade experts yesterday said the US broke global regulations when it imposed tariffs on Chinese goods in 2018. Washington has imposed levies […]

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Strong retail data support sterling, but outlook remains bleak

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Sterling got support today from data showing British shoppers kept increasing spending last month, taking sales further above their pre-Covid-19 levels, although the outlook for the pound remains bleak.  The currency was up against the euro at 0.916 today but down 0.2% against the dollar at $1.295. It fell to $1.2866 yesterday when the Bank of England said […]

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Budget 2021 – rewriting the rule book

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There’s less than a month to go until Budget 2021, but already it’s shaping up to be unlike any other we’ve known in recent memory. Coming against the backdrop of the Covid-19 pandemic and what’s looking increasingly like no trade deal between the UK and the EU by year end, the government has two broad […]

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