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Updated: 38 min 26 sec ago

Explainer: Why Germany wants a merger to underpin Deutsche Bank

Sun, 03/17/2019 - 20:12
Deutsche Bank and Commerzbank confirmed on Sunday they were in talks about a merger, prompting labour union concerns about possible job losses and questions from analysts about the merits of a combination.

Deutsche Bank and Commerzbank go public on merger talks

Sun, 03/17/2019 - 18:43
Deutsche Bank and Commerzbank confirmed on Sunday they were in talks about a merger, prompting labour union concerns about possible job losses and questions from analysts about the merits of a combination.

Saudi energy minister says OPEC needs 'to stay the course' on supply cut pact

Sun, 03/17/2019 - 18:33
Saudi energy minister Khalid al-Falih said on Sunday the job of OPEC and its allies was not done yet adding that the group of oil producers needed to "stay the course" at least until June when the current global supply cut agreement is due to expire.

Stimulus budget in cards as Canada's Liberals look to eclipse crisis

Sun, 03/17/2019 - 17:47
With a federal election looming and Prime Minister Justin Trudeau's government facing its worst political crisis in four years, Canada's ruling Liberals are expected to table a goody-filled budget later this week in bid to get back on course with voters.

Brexit, yellow vests take fizz out of champagne sales

Sun, 03/17/2019 - 14:48
Brexit and France's "yellow vest" protest movement pushed the number of bottles of French champagne sold last year to its lowest since 2004, trade group data showed on Sunday.

Saudi Arabia's PIF hires former IFC official as chief economist

Sun, 03/17/2019 - 14:24
Saudi Arabia's sovereign wealth fund has appointed a former International Finance Corporation official as its chief economist within a plan to boost hiring and expand overseas, Saudi-owned Al Arabiya TV said on Sunday.

Accor CEO says Jin Jiang board member would be complicated

Sun, 03/17/2019 - 14:23
The chief executive of Accor said it would be complicated for the French hotels group if Chinese shareholder and fellow hotel operator Shanghai Jin Jiang Hotels sought a board seat.

U.S. Fed looks to avoid crossed signals at policy meeting

Sun, 03/17/2019 - 14:09
Only two things will really matter when Federal Reserve Chairman Jerome Powell strides to the podium for his press conference on Wednesday after the end of the U.S. central bank's latest two-day policy meeting: Dots and bonds.

Deutsche Bank set to announce merger talks with Commerzbank - source

Sun, 03/17/2019 - 12:22
Deutsche Bank was set on Sunday to confirm merger talks with fellow German lender Commerzbank, according to a person with knowledge of the matter, an indication that efforts to combine the two businesses were gaining pace.

Lyft to launch road show for up to $2 billion IPO - sources

Sun, 03/17/2019 - 11:28
Ride-hailing platform Lyft Inc will launch the investor road show for its initial public offering on Monday, seeking to raise as much as $2 billion and to be valued at more than $20 billion, according to people familiar with the matter.

OPEC's Barkindo says compliance with supply cut deal improving

Sun, 03/17/2019 - 11:28
OPEC Secretary General Mohammad Barkindo said on Sunday that compliance with a supply cut agreement between OPEC and non-OPEC members was improving, and that this would help the oil market to weather through the build up of oil inventories.

Saudi Falih optimistic on continued commitment to OPEC+ oil supply cut

Sun, 03/17/2019 - 11:05
Saudi Arabia's energy minister said on Sunday he was optimistic about continued commitment to the oil supply cut agreement between OPEC and non-OPEC members.

Ethiopia crash probe advances with voice download, fresh details

Sun, 03/17/2019 - 08:38
The hunt for the cause of an Ethiopian Airlines plane crash that killed all 157 people on board gathered pace on Saturday when investigators successfully downloaded the cockpit voice recorder and fresh details emerged of the final seconds of the flight.

Amazon's second headquarters clears blocks in Virginia funding vote

Sun, 03/17/2019 - 08:36 Inc's planned second headquarters in northern Virginia cleared a key test on Saturday when local officials approved a proposed financial package worth an estimated $51 million amid a small but vocal opposition. Amazon in November picked National Landing, a site jointly owned by Arlington County and the city of Alexandria, just outside Washington, along with New York City for its so-called HQ2 or second headquarters. That followed a year-long search in which

Saudi stocks set to receive $20 billion windfall even as some investors sit out

Sun, 03/17/2019 - 08:32
Saudi Arabia's inclusion in major emerging markets stock indices from Monday is likely to suck in around $20 billion in passive inflows, but unease after Jamal Khashoggi's murder and sluggish reforms could lead some active foreign investors to steer clear.

Trump urges General Motors to reopen Ohio plant in tweet

Sun, 03/17/2019 - 08:30
U.S. President Donald Trump urged General Motors Co to reopen Ohio plant in a tweet on Saturday, ten days after the plant made its last Chevrolet Cruze.

Banca d'Italia orders client stop at ING in fight against money laundering

Sun, 03/17/2019 - 08:29
The Italian central bank on Saturday said Dutch lender ING is not allowed to take on new customers in Italy as long as it has not improved its monitoring of client behaviour.

Exclusive: High speed, then a failed climb for doomed Ethiopia flight

Sun, 03/17/2019 - 07:47
Ethiopian Airlines flight 302, which crashed killing 157 people, had an unusually high speed after take-off before the plane reported problems and asked permission to climb quickly, said a source who has listened to the air traffic control recording.

PG&E close to reshaping leadership with investor backing - WSJ

Sun, 03/17/2019 - 07:14
PG&E Corp is close to naming a new chief executive officer and revamping its board backed by some of its largest investors, the Wall Street Journal said on Saturday, as the power utility restructures after filing for bankruptcy because of potential liabilities from California wildfires.

Investor group calls on Lyft to scrap dual-class share structure plan: FT

Sat, 03/16/2019 - 20:21
A group of investors has called on Lyft Inc's board to scrap a proposed dual-class share structure, as the ride hailing company pitches its initial public offering to investors next week, the Financial Times reported on Saturday.