Friday

29th Mar 2024

Ticker

European banks slashing jobs

Dutch-based bank ING is to cut 5,800 jobs to focus on online banking. It follows Germany’s Commerzbank, which last week said it would cut 9,600 jobs, and Spain’s Banco Popular Espanol, which announced in September that 3,000 jobs would go. The European banking sector has been weakened by low interest rates and debts.

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Opinion

EU Modernisation Fund: an open door for fossil gas in Romania

Among the largest sources of financing for energy transition of central and eastern European countries, the €60bn Modernisation Fund remains far from the public eye. And perhaps that's one reason it is often used for financing fossil gas projects.

'Swiftly dial back' interest rates, ECB told

Italian central banker Piero Cipollone in his first monetary policy speech since joining the ECB's board in November, said that the bank should be ready to "swiftly dial back our restrictive monetary policy stance."

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