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Exclusive: Russia’s Sberbank targets half of revenue from non-banking by 2030 – sources

By Tatiana Voronova MOSCOW (Reuters) - Sberbank expects its non-banking business to reach 5% of its revenues in 2023 and as much as half of its total in a decade, as it focuses on e-commerce and other online ventures, two sources told Reuters. Russia's largest lender has invested some $2 billion on acquisitions and IT as it attempts to join Apple (NASDAQ:AAPL)...

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French tycoon Xavier Niel could launch SPAC company next week – sources

By Abhinav Ramnarayan, Clara Denina and Gwénaëlle Barzic LONDON/PARIS (Reuters) - French telecoms magnate Xavier Niel could launch a European special purpose acquisition company (SPAC) as early as next week in what would be Europe's first major so-called blank cheque company this year, two sources told Reuters on Friday. Best known for founding mobile operator Iliad in France, Niel's SPAC will be...

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ECB must enable governments to spend their way out of pandemic: report

FRANKFURT (Reuters) - The European Central Bank must keep borrowing costs super low to enable governments to spend their way out of a pandemic-induced recession, which threatens to hollow out production capacity, ECB board member Fabio Panetta told a Portuguese newspaper. "Favourable financing conditions create the best environment for an effective fiscal policy, which in turn creates the conditions for the private...

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Scotland’s Sturgeon puts UK on independence warning: We want a referendum soon

By Guy Faulconbridge LONDON (Reuters) - Scottish leader Nicola Sturgeon said an independence referendum that could wrench apart the United Kingdom after Brexit should take place in the earlier part of the devolved parliament's next term, which begins next year. If there was another referendum and if Scots voted out, it would mark...

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S&P Closes at Record as Tech Shows Strength

By Yasin Ebrahim The Dow struggled for direction Friday, as tech continued to rack up gains to offset losses in value stocks on fears of further Covid-19 restrictions ahead as Americans travel over the holidays The Dow Jones Industrial Average rose 0.13%, or 38 points. The S&P 500 was up 0.28%, while the Nasdaq Composite added 0.92%. Tech was among the biggest gainers...

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Shell Convent, Louisiana, refinery workers get severance package details – sources

By Erwin Seba HOUSTON (Reuters) - Hourly employees at Royal Dutch Shell (LON:RDSa) Plc’s Convent, Louisiana, refinery, scheduled for permanent closure as early as next week, received details this week of the severance package negotiated by their union and Shell, three people familiar with the agreement said on Friday. Shell said on Nov. 5 it was closing the refinery after failing to...

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UK’s Johnson discusses EU trade negotiations with Irish Taoiseach Micheal Martin

(Reuters) - British Prime Minister Boris Johnson spoke with Irish Taoiseach Micheal Martin on Friday evening and discussed progress in UK-EU trade negotiations, the UK government said. On the call, Johnson stressed his commitment to reach a deal that respects the sovereignty of the country, the government said in a statement https://www.gov.uk/government/news/pm-call-with-irish-taoiseach-27-november-2020. The leaders also discussed their respective efforts to...

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Exclusive: Activist investor Ferrari targets environment, social laggards with new fund

By Simon Jessop LONDON (Reuters) - Activist investor Gianluca Ferrari (NYSE:RACE), who has led campaigns against a string of mid-cap firms, is setting up a fund targeting companies lagging on environmental, social and governance (ESG) issues. Ferrari, who made his name pushing for change at companies including EDP Renovaveis and Retelit as part of Frankfurt-based Shareholder Value Management, said his firm, Clearway...

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