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Oil Squeeze, Jobless Claims, GameStop Hearing – What’s up in Markets By Investing.com

By Geoffrey Smith  Investing.com -- Texas power outages continue to hit households – and the state’s oil output. Jobless claims and housing market data are due, and the House of Representatives holds a hearing on the GameStop (NYSE:GME) short squeeze. Stocks are lower as the great reflation trade takes a breather and Facebook (NASDAQ:FB) finds itself in more trouble with Australia. Here’s what you...

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Negative rates may be BoE’s best tool in future – Saunders By Reuters

By David Milliken and William Schomberg LONDON (Reuters) - Bank of England policymaker Michael Saunders said negative interest rates may soon be the best tool for the BoE, and raised the prospect of unemployment taking a long time to return to pre-pandemic levels. Earlier this month the BoE gave British banks six months to prepare for any decision to cut rates below...

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Stable EU relations with City of London will take time, says EU financial chief By Reuters

By Huw Jones LONDON (Reuters) - The European Union foresees "stable and balanced" relations with Britain's financial sector eventually after ground rules for cooperation are agreed next month, its financial services chief said on Thursday. Britain's financial sector has been cut off from its biggest export customer, with 8 billion euros in daily share trading moving from London to Amsterdam and Paris...

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Marriott Int Earnings beat, Revenue misses In Q4 By Investing.com

Marriott Int (NASDAQ:MAR) reported on Thursday fourth quarter earnings that beat analysts' forecasts and revenue that fell short of expectations. Marriott Int announced earnings per share of $0.12 on revenue of $2.17B. Analysts polled by Investing.com anticipated EPS of $0.0888 on revenue of $2.42B. Marriott Int shares are up 7% from the beginning of the year and are trading...

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Reports of NatWest’s Irish exit a matter of real concern, says deputy PM By Reuters

DUBLIN (Reuters) - Media reports that NatWest may exit the Irish market after a months-long strategic review of its operations there is a matter of real concern, Irish Deputy Prime Minister Leo Varadkar said on Thursday. The Irish Times reported on Wednesday that the NatWest board was set to decide on Thursday on a proposal to wind down its operations in the...

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It’s time to get tough with ‘bully’ Facebook after Australia move, senior UK lawmaker says By Reuters

LONDON (Reuters) - Facebook (NASDAQ:FB)'s move to block all media content in Australia is a staggeringly irresponsible attempt to bully a democracy and will stiffen the resolve of legislators across the world to get tough with the tech giants, a senior British lawmaker said. "This action - this bully boy action - that they've undertaken in Australia will I think ignite a...

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BoE’s Saunders says negative rates may be best tool By Reuters

LONDON (Reuters) - Bank of England policymaker Michael Saunders said cutting interest rates below zero could well prove the best tool for the central bank under some future circumstances, but the BoE did not need to decide on this yet. Saunders said in December that negative interest rates could be a useful tool, and on Thursday he said interest rates below their...

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UK opposition calls for ‘recovery bond’ issuance to fund post-COVID rebound By Reuters

LONDON (Reuters) - Britain's Labour Party leader Keir Starmer on Thursday proposed the launch of a 'recovery bond' to finance post-pandemic government spending that supports communities, jobs and businesses. Starmer made the announcement in a speech setting out his vision for a Britain with greater state intervention to help the country rebound from the damage caused by COVID-19. "If I were Prime...

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ECB accounts show worries over strong euro By Reuters

FRANKFURT (Reuters) - Euro zone inflation is still distant from the European Central Bank target and a strong euro posed an added danger, ECB policymakers concluded last month, the accounts of their Jan 21 meeting showed on Thursday. The ECB left policy unchanged last month but warned that a recent surge in COVID-19 infections posed a risk to the euro zone's recovery...

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Facebook shares slip following news blackout move in Australia By Reuters

(Reuters) - Shares of Facebook Inc (NASDAQ:FB) were down around 1 percent on Thursday, in line with moves in other major tech shares as Wall Street largely shrugged off outrage around the company's decision to block all news content in Australia. The move was in response to a planned Australian law that would require internet companies like Facebook and Google...

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