Business & Finance News
Deutsche Bank laid off staff from Sydney to London on Monday as it began 18,000 job cuts in a 7.4 billion euro ($8.3 billion) “reinvention” which Germany’s largest lender said would mean yet another annual loss, knocking its shares.
Japan has tightened curbs on exports of high-tech materials used in smartphone displays and chips to South Korea, upping the ante in a decades-old dispute with Seoul over South Koreans forced to work for Japanese firms during World War Two.
Oil prices steadied on Monday as tensions over Iran’s nuclear program were tempered by global economic growth concerns and consequently oil demand.
Whole teams at Deutsche Bank were told on Monday their jobs had been axed as it began 18,000 job cuts globally in one of the biggest overhauls to an investment bank since the aftermath of the financial crisis.
Deutsche Bank’s capital-boosting Additional Tier I (AT1) debt issues fell on Monday on worries over future challenges Germany’s biggest lender may face in a planned overhaul.
Huawei aims to spend 3 billion zlotys ($793 million) in Poland in the next five years, although whether the Chinese firm has a role in the 5G rollout may affect the scale of investment, an official at the group’s Polish unit said.
Deutsche Bank laid off staff in Asia on Monday as it began cutting 18,000 jobs as part of a 7.4 billion euro ($8.3 billion) “reinvention” set to tip Germany’s largest lender into yet another annual loss.
Federal prosecutors in New York on Monday are expected to announce charges against financier Jeffrey Epstein related to sex trafficking of underage girls, a source familiar with the matter said, more than a decade after he avoided similar charges in Florida in a plea deal.
Waymo is rolling out amenities to entice riders to use its self-driving taxis, creating a potential route to profitability in a money-losing industry.
Deutsche Bank’s capital boosting Additional Tier I debt issues dropped back into the red on Monday, giving away gains made in early trade following news of the German lender’s planned overhaul over the weekend.
Russia plans to produce at least another 200 Sukhoi Superjet 100 aircraft, Industry Minister Denis Manturov told Reuters, despite a fatal crash that raised questions about the future of the country’s first new passenger jet since the Soviet Union.
Deutsche Bank aims to break even or turn a profit in 2020 but there is “significant uncertainty in that forecast”, the bank’s finance chief said on Monday.
Global shares were in a muted mood on Monday after strong U.S. job gains tempered expectations the Federal Reserve will deliver a large rate cut, but Deutsche Bank gained nearly 4% as it launched a major restructuring.
China’s central bank could cut its benchmark policy rate for the first time in four years if the U.S. Federal Reserve delivers a widely expected cut in late July, analysts say, as Chinese policymakers step up support for the slowing economy.
Whole teams within Deutsche Bank AG have been told their positions were gone on Monday, as the lender began axing 18,000 jobs globally in one of the biggest overhauls to an investment bank since the aftermath of the financial crisis.
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