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Goldman Sees Many in U.S. and Europe Vaccinated by Mid-2021

(Bloomberg) -- Goldman Sachs Group Inc (NYSE:GS). expects large swathes of the public across major developed economies to receive a vaccine against the coronavirus by the middle of next year, driving a “sharp pickup” in global growth. The bank’s economists predict that half the U.K. public will be vaccinated in March, with the U.S. and Canada reaching that threshold...

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Take Five: Dark December

1/MORE PITFALLS It has been a year many would prefer to forget and a month of 2020 still remains -- one replete with events that could trip up markets. Here they are: Dec. 1: A month before the UK-EU transition deal ends. Dec. 8: Deadline to complete U.S. state-level vote recounts and court contests over the election. Dec. 10: European...

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Spain’s Sabadell mandates Goldman Sachs to sell its British unit TSB – source

By Jesús Aguado MADRID (Reuters) - Spanish lender Sabadell has given Goldman Sachs (NYSE:GS) a mandate to sell its loss-making British unit TSB, a source aware of the arrangement told Reuters on Friday. The source said that the process was under way and that Goldman Sachs, which had been hired by Sabadell in July to explore various options, had now been tasked...

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Deutsche Bank sees trade finance at pre-COVID levels by mid-2021

FRANKFURT (Reuters) - Deutsche Bank (DE:DBKGn) forecasts trade financing will rebound to pre-COVID levels by the middle of next year, an executive said on Friday. "Since the news that a COVID-19 vaccine might be broadly available in the New Year, our global trade finance outlook has improved," said Daniel Schmand, Deutsche Bank's Head of Trade Finance and Lending. ...

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VW CEO pushes for contract extension in vote of confidence move – sources

FRANKFURT (Reuters) - Volkswagen (DE:VOWG_p)'s Chief Executive Herbert Diess has asked the company's owning families to back a contract extension in a bid to break a management deadlock at the world's largest carmaker, two people familiar with the matter told Reuters. The appeal for support from the Piech and Porsche families, who control a majority voting stake at the carmaker, comes after...

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Japan ruling party calls for major green investment in draft plan

By Daniel Leussink and Tetsushi Kajimoto TOKYO (Reuters) - Japan's ruling party will call on the government to promote environmental investment with a major decade-long spending programme for the country, whose Prime Minister Yoshihide Suga has made a green society a key policy priority. The Liberal Democratic Party (LDP) said in the draft proposal, which was seen by Reuters early on Friday,...

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Europe should ease state aid rules to help banks cope: Stournaras

ATHENS (Reuters) - Europe should ease state aid rules and protect bank deposits to shore up lenders struggling under the weight of the coronavirus pandemic, European Central Bank policymaker Yannis Stournaras said in an opinion piece on Friday. Euro zone banks have suffered from low profitability and exceptionally low valuations for years, leading to concern that the inevitable surge in non-performing loans...

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Britain’s Arcadia could fall into administration next week – Sky News

LONDON (Reuters) - British fashion group Arcadia, which is controlled by retail businessman Philip Green, is preparing to appoint administrators from Deloitte as soon as next week, Sky News reported on Friday. It cited one retail industry figure as saying Arcadia's collapse had become inevitable after talks with a number of lenders about an emergency 30 million pounds ($40 million) loan ended...

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