UPDATE 3-State Street shares surge on job cuts, profit rise

Posted on January 18, 2013 at 09:55 AM EST

Jan 18 (Reuters) - State Street Corp said on Friday it would cut about 630 jobs worldwide, lifting its stock 5 percent, as it reported a 26 percent boost in fourth-quarter net income amid pressure from some of its largest shareholders to cut expenses.

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Bank of New York State Street Corp.

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