Germany's second largest lender Commerzbank said on Thursday it plans to cut 9,600 jobs, nearly a fifth of its workforce, by 2020 and withhold dividends to pay for a 1.1-billion-euro restructuring. Like other German banks, Commerzbank is fighting headwinds from low interest rates in the eurozone, tough regulation, intense competition and the arrival of new digital actors on the market. Board members aim to achieve "sustainable profitability" by focusing on private and business banking customers while shrinking investment banking activities, it said in a statement.
The United Nations described Thursday a desperate situation in Syria's rebel-held eastern Aleppo, warning "hundreds" needed medical evacuation and that there was only enough food aid left for a quarter of the city's population. "Utmost on our mind is the need to address the very concerning medical situation" in the east of Aleppo, UN deputy envoy for Syria, Ramzy Ezzeldin Ramzy, told reporters in Geneva. "Medical evacuations are urgently needed," he stressed, adding that "probably hundreds" of people needed to be urgently evacuated from the war-ravaged city.