Deutsche Bank Vows to Avoid Capital Raise as ECB Cuts Burden
10-12-2019, 11:18
(Bloomberg) -- Deutsche Bank AG (DE:DBKGn) Chief Executive Officer Christian Sewing vowed that the bank will execute one of the largest restructurings in its history without the need for extra shareholder funds as he seeks to build credibility with investors. The lender’s common equity Tier 1 ratio -- a key metric of financial strength -- will be above 13% throughout the end of the year, while the lender’s main regulator reduced its capital ..
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German Manufacturers Paint Bleak 2020 Outlook Citing Uncertainty
10-12-2019, 11:15
(Bloomberg) -- Germany’s machine makers painted a bleak picture for 2020, saying output won’t grow before the second half of the year at the earliest. Even then, production is set to fall 2% after a decline of a similar scale this year, according to the Mechanical Engineering Industry Association, or VDMA. It said any rebound will depend on improving business confidence and no further aggravation in the trade war between the U.S. and ..
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BlackRock Investment Institute 'modestly positive' on risk assets for 2020
10-12-2019, 11:12
LONDON (Reuters) - BlackRock (NYSE:BLK) Investment Institute said on Tuesday it was cautiously rotating into cyclical assets, Japanese equities and emerging markets. “We are modestly positive on risk assets," said Scott Thiel, chief fixed income strategist for BlackRock Investment Institute, citing as reasons a nudge higher in growth in the first half of 2020 and an improvement in the "mood music" around protectionism. “Market returns will be ..
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EU antitrust regulators mull tougher line against tech giants
10-12-2019, 11:09
By Foo Yun Chee BRUSSELS (Reuters) - EU antitrust regulators are considering taking a tougher line against tech giants by forcing them to do more to ensure a level playing field, a senior European Commission official said on Tuesday, a move which could affect Facebook (NASDAQ:FB), Amazon (NASDAQ:AMZN), Apple (NASDAQ:AAPL) and Google (NASDAQ:GOOGL). The four U.S. tech companies are currently in EU competition enforcers' crosshairs, with ..
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Amazon secures top Champions League rights for Germany
10-12-2019, 11:06
BERLIN (Reuters) - (NASDAQ:AMZN) has secured the rights to broadcast top European soccer Champions League matches for the 2021/22 season in Germany, the U.S. company said on Tuesday. Amazon said it would be broadcasting Champions League matches on Tuesday evenings from 2021. "We’re excited to bring UEFA Champions League football to our customers in Germany," Alex Green, managing director at Amazon's Prime Video Sport ..
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France fines Morgan Stanley $22 million for manipulating sovereign bonds
10-12-2019, 11:03
PARIS (Reuters) - France's markets watchdog AMF said on Tuesday it has fined U.S bank Morgan Stanley (N:MS) 20 million euros ($22 million) for manipulation of sovereign bonds. The fine relates to manipulations of French and Belgian bonds prices in June 2015, AMF said in a statement. Morgan Stanley said it intended to lodge an appeal. "The activities in question were undertaken in accordance with market practice and as part of the firm’s ..
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UK economy flat-lines, hit by Brexit and global slowdown, as election nears
10-12-2019, 10:27
LONDON, Dec 12 (Reuters) - Britain's economy grew at its slowest annual pace in nearly seven years in October, offering a weak backdrop to Thursday's national election in which both leading parties are promising to boost growth. The approach of a Brexit deadline and the global economic slowdown hit Britain's factories and construction industry in the month, official data showed on Tuesday. Gross domestic product rose by 0.7% ..
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U.S. trade offensive takes out WTO as global arbiter
10-12-2019, 10:24
By Philip Blenkinsop BRUSSELS (Reuters) - U.S. disruption of the global economic order reaches a major milestone on Tuesday as the World Trade Organization (WTO) loses its ability to intervene in trade wars, threatening the future of the Geneva-based body. Two years after starting to block appointments, the United States will finally paralyze the WTO's Appellate Body, which acts as the supreme court for international trade, as two of three ..
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Exclusive: Malaysia's Mahathir hopeful of 1MDB settlement with Goldman soon
10-12-2019, 10:21
By Joseph Sipalan, Krishna N. Das and Matthew Tostevin KUALA LUMPUR (Reuters) - Malaysian Prime Minister Mahathir Mohamad is hopeful of reaching an out-of-court settlement with Goldman Sachs (N:GS) over the 1MDB scandal soon, but that compensation of "one point something billion" dollars offered by the bank was too small. The Southeast Asian nation has charged Goldman and 17 current and former directors of its units for allegedly misleading ..
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Domino's Pizza chairman Stephen Hemsley to step down
10-12-2019, 10:18
(Reuters) - Domino's Pizza Group (L:DOM) on Tuesday said its long-serving Chairman Stephen Hemsley will step down from the board, four months after the British pizza delivery chain announced retirement of its chief executive officer. Hemsley, who was appointed as Domino's non-executive chairman in March 2010, will leave the company on Dec. 29. Senior Independent Director Ian Bull will assume the role of an interim chairman. "The search ..
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Latest News

'It feels good to be a bike racer again,' says Froome in comeback race
Today, 19:09
(Reuters) - Chris Froome made his much-awaited return to the peloton at the UAE Tour on Sunday after recovering from serious injuries he sustained in a high-speed crash last year, saying he was glad he had overcome the struggle to get back to racing. "It's a great feeling to be back in the bunch and there were so many riders coming up to me and saying it was good to see me back," the four-times Tour de France winner told reporters. "I ..
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Opelka beats Raonic and will face Nishioka for Delray title
Today, 19:06
(Reuters) - American Reilly Opelka surprised Canada's second-seeded Milos Raonic in their rain-delayed semi-final to set up a meeting with Japan's Yoshihito Nishioka for the Delray Beach Open title in Florida on Sunday. Opelka, the fourth seed, came from behind to win 4-6 7-6(6) 6-3. Nishioka had bested France's Ugo Humbert 1-6 6-4 6-0 on Saturday before rain washed out other matches at the Florida tournament. The final was being ..
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Iraqi security forces kill one, wound seven in Baghdad: sources
Today, 19:03
BAGHDAD (Reuters) - Iraqi security forces killed one person and wounded seven on Sunday when they opened fire on protesters in Baghdad, security and medical sources said. Iraq is facing an extraordinary domestic crisis, with nearly 500 people killed since Oct. 1. Protesters are demanding the ouster of what they see as a corrupt ruling elite and an end to foreign interference, mainly by Iran and the United States. ..
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Kuroda says BOJ will be 'fully prepared' to act on virus risk
Today, 18:12
By Leika Kihara RIYADH (Reuters) - The Bank of Japan will be fully prepared to take necessary action to mitigate the impact of the coronavirus on the world's third-largest economy, its Governor Haruhiko Kuroda said. Kuroda said there was no major change to the BOJ's projection that Japan's economy would keep recovering moderately thanks to an expected rebound in global growth around mid-year. He also repeated the view that, while ..
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Central bankers will look at options for responding to coronavirus: Mnuchin
Today, 18:09
RIYADH (Reuters) - U.S. Treasury Secretary Steven Mnuchin said on Sunday central bankers will look at options for responding to the fast-spreading coronavirus as needed. Mnuchin told reporters after a meeting of finance officials from the world's 20 largest economies that it was too early to speculate about the longer-term impact of the deadly outbreak, but more would be known in three to four weeks. "I’m not going to comment on monetary ..
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G20 finance heads wrap up meeting overshadowed by virus outbreak
Today, 18:06
It was a G20 meeting dominated by growing concern over the coronavirus outbreak Finance ministers and central bankers from the world's top 20 economies wrapped up their two-day meeting in Saudi Arabia on Sunday (February 23) The group faced a sober presentation by the IMF, which predicted the epidemic would shave 0.1 percentage point off global growth. China has vowed to step up policy adjustments to help cushion the blow on the economy from the ..
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Israel stocks lower at close of trade; TA 35 down 2.32%
Today, 18:03 – Israel stocks were lower after the close on Sunday, as losses in the Insurance, Real Estate and Oil & Gas sectors led shares lower. At the close in Tel Aviv, the TA 35 fell 2.32%. The best performers of the session on the TA 35 were Perrigo (TASE:PRGO), which rose 1.74% or 350 points to trade at 20460 at the close. Meanwhile, OPKO Health Inc (TASE:OPK) added 0.20% or 1 points to end at 543 and Elbit Systems Ltd (TASE:ESLT) was ..
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As Teck oil sands mine hopes for okay from Canada's Trudeau, 20 other projects on hold
Today, 17:15
By Rod Nickel WINNIPEG, Manitoba (Reuters) - As Canadian Prime Minister Justin Trudeau considers whether to approve Teck Resources' Frontier oil sands project, roughly 20 others sit on the shelf as companies delay investment decisions hoping for new pipelines and higher prices. These projects could bring a wave of some 2 million barrels per day (bpd) onto a market many view as already oversupplied. They also largely have approvals, ..
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Japan criticizes U.S. digital tax proposal at G20
Today, 17:12
By Leika Kihara RIYADH (Reuters) - Japanese finance minister Taro Aso criticized on Sunday a U.S. tax reform proposal that he said could undermine global efforts to agree new rules on taxing big tech companies. The Organisation for Economic Cooperation and Development(OECD) is developing rules to make digital companies pay tax where they do business, rather than where they register subsidiaries - a move that was broadly endorsed by finance ..
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Exclusive: If Lebanon needs financial aid, France will be there, finance minister says
Today, 17:09
By Stephen Kalin RIYADH (Reuters) - France is ready to support Lebanon financially - bilaterally or multilaterally - its finance minister said on Sunday, warning against mixing economic recovery in the small Mediterranean state with U.S.-led efforts to counter Iran in the region. "France always stands ready to help Lebanon. It has always been the case in the past and it will be the case in the future..." Bruno Le Maire told Reuters at ..
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