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Deutsche Bank Vows to Avoid Capital Raise as ECB Cuts Burden

(Bloomberg) — Deutsche Bank AG Chief Executive Officer Christian Sewing vowed that the bank will execute one of the largest restructurings in its history without the need for extra shareholder funds as he seeks to build credibility with investors.The lender’s common equity Tier 1 ratio — a key metric of financial strength — will be above 13% throughout the end of the year, while the lender’s main regulator reduced its capital burden on the bank for next year as Sewing begins to shrink and simplify Germany’s biggest lender. The bank has said that it wants to keep its CET1 level …read more […]

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EMERGING MARKETS-Stocks, currencies flat amid U.S.-China tariff jitters

Stocks were little changed on Tuesday, less than a week before the United States is due to impose more tariffs on Chinese goods. Markets are holding out hopes for an interim trade deal before the Dec. 15 deadline for new tariffs, although mixed signals from the United States last week and Beijing’s insistence on the removal of existing tariffs has kept investors cautious. …read more […]

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Amazon secures Champions League rights for Germany: report

Amazon.com has secured the rights to broadcast top European soccer Champions League matches for the 2021/22 season in Germany, the U.S. company’s second biggest market, the DWDL media trade website reported on Tuesday. The website said the rights included top Champions League matches on Tuesday evenings. Amazon was not immediately available for comment. …read more […]

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UPDATE 1-S.Africa mining companies cut production due to power shortages

South African mining companies Harmony Gold, Impala Platinum, and Sibanye-Stillwater have been forced to cut production since Monday due to power shortages, they said on Tuesday. “There are very few underground mines that operated overnight and will be operating normally today,” said a spokesman for the Minerals Council, an industry body. Harmony Gold called off its underground shifts, saying it would resume as soon as state power company Eskom could provide assurance power supply would be more reliable. …read more […]