Deutsche Bank and Commerzbank said their merger talks had ended, with execution risks, restructuring costs and capital requirements dashing German attempts to create a mega-bank.
French luxury group Kering is close to agreeing to pay between 1.3 billion and 1.4 billion euros ($1.5-1.6 billion) to settle a dispute with Italian authorities over unpaid taxes by its fashion brand Gucci, three sources told Reuters on Thursday.
German Finance Minister Olaf Scholz said on Thursday that German industry needed competitive banks for its global business after merger talks between Deutsche Bank and Commerzbank ended in failure.
Germany’s Labour Minister Hubertus Heil acknowledged the announcement of the country’s two biggest banks, Deutsche Bank and Commerzbank to discontinue end talks to merge as a “private sector decision of two companies”, he said on Thursday.
World equity markets slipped on Thursday amid worries on global growth and as investors digested European earnings, while the Swedish crown slumped to its lowest in 17 years and the euro suffered after German data.
Deutsche Bank and Commerzbank have ended talks to merge with no deal, the banks said on Thursday.
Royal Bank of Scotland is searching for a new chief executive after Ross McEwan resigned, signaling a fresh start as it heads for full private ownership after a state bailout.
A SoftBank Corp subsidiary said on Wednesday it had invested $125 million in an Alphabet Inc company that is working to fly cellphone antennas high in the atmosphere to provide internet in areas that are difficult to reach.
Finnish telecom network equipment maker Nokia plunged to a surprise quarterly loss due to a delay in booking 5G payments and said on Thursday the security dispute surrounding rival Huawei was creating near-term pressure to invest.
Peugeot maker PSA Group reported a 1.1 percent decline in first-quarter revenue, as a sales decline outside Europe and currency challenges outweighed pricing improvements.
Merger talks between Germany’s top two lenders, Deutsche Bank and Commerzbank, are expected to end in failure, a person with knowledge of the matter said on Thursday.
Royal Bank of Scotland plc is searching for a new chief executive after Ross McEwan resigned, signaling a fresh start as it heads for full private ownership after a state bailout.
As Chinese investment banker Liu Guangfu prepares to file an application for his client to list on Shanghai’s Nasdaq-style technology board, he is heading into uncharted waters: how to price the new shares and sell them to the right investors.
German drug and farming supplies company Bayer posted a 45 percent gain in quarterly core earnings thanks to the acquisition of seed maker Monsanto, while the legal burden it took on with the deal mounted.
Swedbank admitted to previous shortcomings in combating money laundering on Thursday and said it was cooperating with investigating authorities, including in the United States.
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