Italy’s ruling League party is ready to back a state rescue of Carige in the absence of private investors willing to plug in a capital shortfall at the ailing bank, Deputy Prime Minister Matteo Salvini was quoted as saying.
Deutsche Bank’s chief executive said on Thursday that he was ready to make “tough cutbacks” to its investment bank, whose future is in doubt after several failed restructurings.
Malaysian police raided the Kuala Lumpur office of audit firm Deloitte on Thursday to search for documents and records related to a multibillion-dollar scandal at state fund 1MDB, two police sources told Reuters.
Deutsche Bank’s chief executive on Thursday said that he was ready to make “tough cutbacks” to the lender’s investment bank.
Deutsche Bank Chairman Paul Achleitner on Thursday signaled cuts are in store at Germany’s largest lender and that the chief executive would soon elaborate on the topic at the bank’s annual general meeting.
The United States needs to correct its wrong actions if it wants to continue negotiations with China to end a damaging tariff war, China’s Commerce Ministry said on Thursday, adding that talks should be based on mutual respect.
China said on Thursday it had lodged solemn representations with the United States after it blocked Chinese telecoms equipment maker Huawei from buying U.S. goods, a major escalation in the trade war between the two countries.
Asian shares broke support and caved to a four-month low on Thursday, as concerns grew that the Sino-U.S. trade conflict was fast morphing into a prolonged technology cold war between the world’s two largest economies.
Global tech firms, including chip suppliers, are cutting ties with China’s Huawei Technologies Co Ltd after the U.S. government put the world’s largest telecom equipment maker on a trade blacklist citing national security concerns.
Codelco’s giant Chuquicamata mine is set for a 40% drop in production over the next two years, an internal forecast seen by Reuters shows, pointing to the sharp challenge facing the world’s top copper miner as it scrambles to maintain output.
British chip designer ARM halted relations with Huawei to comply with a U.S. blockade of the company, potentially crippling the Chinese telecom company’s ability to make new chips for its future smartphones.
Swiss food group Nestle SA and New Zealand’s dairy producer Fonterra Co-operative Group said they would review strategic options for their Dairy Partners Americas (DPA) joint venture in Brazil, which could include a potential sale.
Novartis has 25 potential blockbuster treatments in development, the company said ahead of a management event in the United States on Thursday.
Investors in Deutsche Bank are gathering on Thursday for an annual meeting that is expected to be dominated by questions over the bank’s strategy and leadership just days after shares hit a record low.
Barbadian singer Rihanna has unveiled her new fashion brand with Louis Vuitton owner LVMH, a rare move by the French group to set up a label from scratch as it taps into soaring demand for celebrity collaborations in the luxury world.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
