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Deutsche Bank Sells $50 Billion Book of Assets to Goldman

(Bloomberg) — Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Deutsche Bank AG sold another chunk of unwanted assets to Goldman Sachs Group Inc. as part of a radical restructuring that’s seeing the German firm exit businesses where it’s been unable to compete.The nation’s largest lender recently sold securities with a notional value of about 40 billion pounds ($51 billion) to the U.S. bank, people briefed on the matter said. The assets are tied to emerging market debt and were previously housed in Deutsche Bank’s wind-down unit, one person said. They asked …read more […]

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UPDATE 1-Smartphone maker Xiaomi posts slowest-ever revenue growth in Q3

Chinese smartphone maker Xiaomi Corp posted its slowest-ever quarterly revenue growth, as the country’s smartphone market copes with a protracted lull in sales and bigger rival Huawei grabs more market share. Demand for smartphones has eased in China as consumers hold on to devices longer. As well, Chinese shoppers have rallied behind and boosted sales at Huawei, the world’s second-largest smartphone maker, which was added to a trade blacklist by the United States. …read more […]

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Smartphone maker Xiaomi posts slowest-ever revenue growth in third quarter

Chinese smartphone maker Xiaomi Corp posted its slowest-ever quarterly revenue growth, as the country’s smartphone market copes with a protracted lull in sales and bigger rival Huawei [HWT.UL] grabs more market share. Demand for smartphones has eased in China as consumers hold on to devices longer. As well, Chinese shoppers have rallied behind and boosted sales at Huawei, the world’s second-largest smartphone maker, which was added to a trade blacklist by the United States. …read more […]

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UPDATE 1-Norwegian Air to end routes from Sweden, Denmark to U.S, Thailand

Budget airline Norwegian Air is ending flights from Copenhagen and Stockholm to the United States and Thailand due to weak demand and technical problems affecting the engines on its Boeing 787 Dreamliners, it said on Wednesday. Flights between Oslo and the U.S. will continue, it added. “Scandinavia isn’t big enough to maintain intercontinental flights from Oslo, Stockholm and Copenhagen,” Senior Vice President Commercial Matthew Wood said in a statement. …read more […]

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UPDATE 1-Merkel wants Europe to aim for joint stance on China and 5G

German Chancellor Angela Merkel called on European countries on Wednesday to agree a common approach towards China and the rollout of the next generation 5G mobile network. Some German lawmakers want to exclude China’s Huawei from 5G contracts, following warnings by the United States that this could lead to spying for Beijing. Huawei denies the allegations made by Washington. …read more […]