Business & Finance News
The European Union’s negotiator Michel Barnier said on Wednesday that he was working for a Brexit deal and a future cooperation model with Britain that would respect the UK’s sovereignty.
Drugmaker Merck and Co Inc said on Wednesday that its board voted to rescind a policy requiring its head to retire at 65, a move that will permit current Chief Executive Officer Kenneth Frazier to remain in the role beyond next year.
Deutsche Bank has dismissed speculation that it might seek a merger as “fictions”, after media reports suggested Germany’s biggest lender might seek tie ups with Switzerland’s UBS or German peer Commerzbank.
Daimler named research chief Ola Kaellenius as its next CEO on Wednesday in a succession plan that promotes a raft of tech-savvy managers at its Mercedes-Benz car brand and also seeks to install long-serving CEO Dieter Zetsche as chairman.
German Deputy Finance Minister Joerg Kukies on Wednesday urged insurers to prepare for a no-deal Brexit and added that the German government was very interested in attracting financial service providers looking to leave Britain due to Brexit.
JPMorgan Chase & Co is in talks about leading Lyft Inc’s upcoming initial public offering as an underwriter, after rivals Goldman Sachs Group Inc and Morgan Stanley decided not to pursue such a role out of loyalty to another IPO hopeful, Lyft’s larger competitor Uber Technologies Inc, according to people familiar with the matter.
Oil prices eased on Wednesday but were still set for a fifth consecutive monthly quarter of gains, driven by an impending drop in Iranian exports in the last three months of the year when global demand heats up.
Deutsche Bank has dismissed as “fictions” speculation that it might seek a merger, after media reports suggested Germany’s biggest lender might seek tie ups with Switzerland’s UBS or German peer Commerzbank.
A Chinese equity bounce set a modestly positive tone for world stocks on Wednesday as bets that Beijing would expand stimulus to support its economy helped offset some of the worries about global trade tensions and $80-a-barrel oil.
Anbang Insurance Group Co Ltd [ANBANG.UL] aims to sell $200 million worth of Japanese real estate to bidders including Blackstone Group LP , about two years after buying them from the U.S. investment firm, two people with knowledge of the matter said.
With just six months to go until the United Kingdom is due to leave the European Union, negotiations are at what Prime Minister Theresa May has called an impasse.
Nissan Motor Co said on Wednesday an “extremely low awareness” of the seriousness of inspection standards and rules had led to improper measuring of exhaust emissions and fuel economy in vehicle models made in Japan.
Daimler AG on Wednesday named Swede Ola Kaellenius as chief executive from 2019 and proposed that current CEO Dieter Zetsche would become chairman of the supervisory board in 2021.
Foreign airlines that fly on 20 popular long-haul routes to China will face fresh competitive pressure as Beijing begins to ease decade-old restrictions on Oct. 1, allowing more Chinese carriers to offer service.
Daimler AG said on Wednesday it would appoint Ola Kaellenius as chief executive in 2019 and that current CEO Dieter Zetsche would move to the supervisory board in 2021.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
