Business & Finance News
Danske Bank said on Thursday it has been preliminary charged by the Danish prosecutor for overcharging customers for an investment product.
Singapore said on Thursday it had levied an S$11.2 million ($8 million) fine on Swiss bank UBS after investigations showed its advisors deceived clients over prices for bonds and structured products.
SoftBank’s Yahoo Japan is in talks to merge with messaging app operator Line Corp to create a $27 billion tech giant and help the Japanese conglomerate expand e-commerce and payments services.
Alibaba’s planned $13.4 billion share sale will be Hong Kong’s first paperless stock market listing, a source with knowledge of the matter said, breaking with a long-held tradition of investors placing stock orders in bank branches.
Tougher emissions rules will hit Daimler’s profits in 2020 and 2021, prompting the German carmaker to seek more than 1 billion euros ($1.1 billion) in savings from cutting staff costs at its Mercedes-Benz business by the end of 2022, it said on Thursday.
World stocks nudged down on Thursday as Chinese economic data slowed in October and Germany only narrowly avoided a recession in the third quarter, adding to worries about the global growth fallout from the U.S.-China trade war.
Boeing Co has abandoned a key automation system used to make fuselage sections for its 777 jetliners amid reports of reliability issues, and will instead partially switch back to mechanics, the planemaker said on Thursday.
China and the United States are holding “in-depth” discussions on a first phase trade agreement, and cancelling tariffs is an important condition to reaching a deal, the Chinese commerce ministry said on Thursday.
Alibaba Group will carry out Hong Kong’s first paper-less stock market listing with its $13.4 billion share sale, according to a source with knowledge of the matter, ending the long-held tradition of Hong Kong investors queuing in bank branches to place stock orders.
As dollars dry up, global finance is growing increasingly dependent on opaque currency trading to keep cash flowing.
From the dominant reserve currency for central banks to the main conduit for global trade and borrowing, U.S. dollars are the lifeblood for banks and markets around the world.
Daimler shares fell sharply on Thursday after the German carmaker said tougher emissions rules will hit earnings in 2020 and 2021 forcing it to seek more than 1 billion euros in personnel cuts at Mercedes-Benz Cars by end of 2022.
Oil rose on Thursday after industry data showed a surprise drop in U.S. crude inventories, while comments from an OPEC official about lower-than-expected U.S. shale production growth in 2020 also provided some support.
China and the United States are holding in-depth discussions on a “phase one” trade agreement, and cancelling tariffs is an important condition to reach such a deal, the Chinese commerce ministry said on Thursday.
Calm and considered, incoming BHP Group Ltd chief executive Mike Henry is seen as a safe pair of hands to steer the world’s largest mining company through what he says are uncertain times.
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