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Bloomberg Deutsche Bank AG expects to ultimately replace large parts of its core banking system with alternatives powered by Alphabet Inc’s Google, as the German lender embarks on its biggest effort yet to modernise computer systems that have hampered it for years. The two companies finalised a cloud computing agreement under which the German lender plans to shift most of …

Bloomberg Citigroup Inc’s Michael Corbat said he’s worried about potential long-term negative effects after many of his employees spent the vast majority of 2020 working from home. “People talk about the productivity that comes with working remotely,” Corbat said in a televised interview for a Bloomberg Invest Talks event. “Well, if I worked seven days a week, 15 to 16 …

Bloomberg Gaming company Razer Inc will stick with a strategy of expanding into digital-banking services, undeterred by its failure to win a license in Singapore following a closely-watched contest. Razer will push on with a plan to roll out Razer Youth Bank, targeting millennials in countries such as Malaysia and the Philippines, Razer Fintech CEO Lee Li Meng said. Other markets …

Bloomberg Microsoft Corp released one product and unveiled another designed to warehouse, analyse and keep track of data, taking on Amazon.com Inc and Snowflake Inc in a growing market for cloud-based tools that help companies do more with reams of information. Microsoft widely released its Azure Synapse Analytics tool and announced a preview of a new product called Purview, which …

Bloomberg JD.com Inc, China’s second-biggest online retailer, will become the country’s first virtual mall to use digital yuan, the cryptocurrency backed by the central bank. JD Digits, the e-commerce giant’s fintech affiliate, will launch a pilot program this month, and customers will pay for certain items with digital yuan, it said on its official WeChat account. About 100,000 digital cash …

Bloomberg Car-sharing startup Turo Inc is returning to New York, seven years after leaving the state that was once its biggest market over a dispute with regulators about insurance rules. Turo, which allows vehicle owners to put their personal cars up for daily rentals through its website and smartphone app, aims to compete with traditional offerings from Avis Budget Group …

Bloomberg Google is set to win conditional European Union (EU) approval for its $2.1 billion takeover of health tracker Fitbit Inc this month, people familiar with the discussions said. The deal could be approved as soon as next week after national competition authorities give their opinion, said the people who asked not to be named because the procedure isn’t public. …

GENEVA / WAM The UN refugee Agency has commended the UAE for supporting humanitarian efforts to airlift emergency aid and supplies to Ethiopian refugees in Sudan. Spokesperson of the United Nations High Commissioner for Refugees (UNHCR) Babar Baloch, told a news briefing in Geneva that a plane carrying 32 tons of UNHCR emergency aid from global stockpile in Dubai landed …

Bloomberg Opec ministers started hashing out the size of the cartel’s oil-production cuts for next year, as the group’s president called for caution in a fragile market. The coalition that pumps half the world’s crude is debating whether to maintain supply at current levels or increase it as planned in January. Some members are concerned that global markets remain too …

TOKYO / WAM Japan imported from the United Arab Emirates 21.850 million barrels of crude oil in October 2020, data released by the Agency of Energy and Natural Resource in Tokyo showed. This accounts for 31.2 percent of Japan’s total crude imports, the agency that belong to the Ministry of Economy, Trade and Industry, said. Saudi Arabia provided 29.761 mmb, …