News of a foreign wealth manager being denied exit from China last week is raising concerns for global private banks, as they seek to tap trillions of dollars of wealth offshore in the face of Beijing’s growing curbs on overseas investments and outflows.
Saudi Arabia’s crown prince is expected to address an investment forum on Wednesday that has been overshadowed by the outcry over the killing of journalist Jamal Khashoggi, a day after Turkey urged Riyadh to search “top to bottom” for those responsible.
Saudi Arabia’s central bank governor said the kingdom will not penalize foreign banks that boycotted an investment conference in Riyadh and reiterated the country’s commitment to defend its currency peg to the dollar.
Deutsche Bank is planning to hold a larger portion of its 270 billion euros in liquidity buffers in securities rather than cash as it seeks to increase its profitability, its Chief Financial Officer said.
China is struggling to restore confidence in its stock markets, which are being weighed down by a massive amount of shares that have been pledged as collateral as credit-starved companies seek to raise funds.
Howard Wilkinson, the whistleblower who helped to reveal suspected money laundering at Danske Bank , has accepted an invitation to testify before the European Parliament, his lawyer said.
BlackRock, the world’s largest asset manager, will keep its biggest European operation and regional headquarters in Britain after Brexit, moving “only very few” roles to expanded offices in the Netherlands and France, a memo to staff seen by Reuters showed.
The S&P 500 may not yet be in correction territory, but the vast majority of the index’s components have already gotten there.
Asian stocks turned up on Wednesday as fresh signs of stimulus from China propped up sentiment despite Wall Street’s overnight losses, while crude oil approached two-month lows after Saudi Arabia flagged possible supply increases.
Deutsche Bank on Wednesday said that it was on track to swing to a profit this year, its first since 2014, despite a steep decline in third quarter profit as it restructures under new leadership.
Ford Motor Co has hired a new chief for its troubled China operations, ending a nine-month search after the previous head suddenly quit and tasking him with fixing a deep sales slump in the world’s biggest car market.
A trio of billionaire siblings known for inheriting the privately-held packaging giant Tetra Laval have snapped up nearly 20 percent of International Flavors & Fragrances Inc over two years, becoming the company’s top shareholder, Reuters has learned.
It’s one of the biggest bets going in the world of cars.
South Korea’s LG Display Co Ltd said trade conflicts would undermine the global panel business, as it posted a 76 percent fall in third-quarter profit on Wednesday despite a seasonal price boost.
Asian stocks edged lower on Wednesday as concerns, ranging from worries about U.S. corporate earnings to Middle East tensions, weighed on sentiment while crude oil approached two-month lows after Saudi Arabia flagged possible supply increases.
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