Deutsche Bank said on Friday that it had appointed Citigroup treasurer James von Moltke as its new chief financial officer. Germany’s biggest lender has been looking for a new finance director since it announced last month that Marcus Schenck would take on a new dual role as co-head of the investment bank and joint deputy chief executive. Citi declined to comment on the news, which was first […]
Emerging market equities have been the darling asset class de jour in 2017, mainly in Asia and Latin America, despite the March FOMC rate hike, a US Dollar Index at or above 100 and a mini-swoon in crude oil after a Saudi-Russian output cut spat. Earnings growth (India/Thailand) a stabilized currency (China), policy reforms (India, Brazil, Indonesia) local interest rate cuts (Brazil) and lower US protectionist policies […]
Distribution agreement boosts Eikon’s robust research offering with economic sovereign reports London, 28 April 2017 – Users of Thomson Reuters flagship financial platform Eikon can now access Oxford Business Group’s full range of research on emerging economies, following a distribution agreement between the two firms, giving financial professionals instant access to OBG’s extensive range of reports and economic updates. OBG content is available through Eikon’s real-time and […]
Short-term borrowing costs in China have climbed to their highest level in two years as comments from President Xi Jinping fan investor expectations that a “regulatory windstorm” is part of a broader crackdown on the financial sector. China’s premier on Thursday described finance as the “core of a modern economy”, according to state news agency Xinhua, adding that “accurate judgment of potential financial risks serves as a […]
FRANKFURT Deutsche Bank is expected to name James von Moltke as new finance chief, replacing Marcus Schenck who is taking on a role as co-head of the investment bank, a source close to the matter said on Friday. Deutsche Bank declined to comment. Von Moltke will join Germany’s flagship lender from Citi, where he worked as treasurer from 2015 after earlier looking after the bank’s financial planning […]
Barclays has reported a doubling of underlying quarterly profits, excluding a big hit for selling its African unit, as its chief executive sought to shift attention away from a row over his treatment of a whistleblower. Jes Staley, who is being investigated by British and American regulators for trying to discover the identity of a whistleblower, said: “We are now just two months away from completing the […]
InterContinental Hotels Group (IHG) is in talks with investors about introducing its US-based Kimpton Hotels & Restaurants brand to the UAE. Pascal Gauvin, IHG’s India, Middle East and Africa COO, told Arabian Business that Nasdaq-listed IHG began discussions with investors in January and hopes to sign a deal this year. After that, it intends to launch boutique hotel brand Kimpton in Dubai, first, within the next 3-5 […]
WASHINGTON U.S. President Donald Trump told Reuters on Thursday he will either renegotiate or terminate what he called a “horrible” free trade deal with South Korea and said Seoul should pay for a U.S. anti-missile system that he priced at $1 billion. In an interview with Reuters, Trump called the five-year-old trade pact with South Korea “unacceptable” and said it would be targeted for renegotiation after his […]
With Democrats seemingly unsatisfied with Republicans dropping border wall funding and adjusting on Obamacare-related items, it appears President Trump is calling Schumer’s and Pelosi’s bluff, proclaiming “If there’s a shutdown, there’s a shutdown,” adding that Democrats would be to blame if the federal government was left unfunded. Schumer today: *SCHUMER: TRUMP CONCESSIONS BRING SPENDING DEAL CLOSER TO FINISH *SCHUMER SAYS ‘SOME STICKING POINTS’ LEFT ON SPENDING BILL […]
April 28, 2017 by: Hudson Lockett in Hong Kong Friday 05.00 BST Overview Equities fell on Friday in Asia as the region’s markets took their cues from an underwhelming session on Wall Street, while currencies pared earlier rises amid mixed signals on the future of Nafta. Hot topic Asia-Pacific equities were choppy after Wall Street investors on Thursday digested the prospects of the Trump administration’s proposed tax […]
By Jennifer Ablan and Stephen Nellis | NEW YORK/SAN FRANCISCO NEW YORK/SAN FRANCISCO Growing tensions with North Korea should worry global electronics firms such as Apple Inc as they source key parts from South Korea, but investors are brushing off such concerns and snapping up shares in key exporters, heartened by robust earnings and big investment plans. U.S. President Donald Trump said on Thursday in an interview […]
By Julia Love and Rishika Sadam Google parent Alphabet Inc (GOOGL.O) posted a surge in profit and revenue on Thursday as its core advertising business continued to grow at an extraordinary rate and problems such as an advertiser boycott of YouTube had little impact. Alphabet’s profit beat Wall Street estimates and rose 29 percent to $5.43 billion, a performance that analysts called exceptional for a company so […]
Alphabet, Google’s parent company, reported a 22 per cent surge in sales, despite fears that marketers were withdrawing advertising dollars from its YouTube video site because of worries about ads appearing next to extremist content. The Silicon Valley company’s shares, up 21 per cent in the past year, rose 4 per cent to $928.30 in after-hours trading in New York. Sundar Pichai, Google chief executive, said the […]
By Phil Stewart and Yara Bayoumy | WASHINGTON WASHINGTON When U.S. Defense Secretary Jim Mattis greeted Saudi Arabia’s foreign minister at the Pentagon last month, the first thing he did was joke about the time “the Iranians tried to murder you.” Mattis’ reference to a foiled 2011 plot, denied by Iran, was a telling sign of how much more aligned President Donald Trump’s administration is with Gulf […]
Google parent company Alphabet reported first quarter financial results Thursday that came in above estimates. The tech giant reported non-GAAP earnings were $7.73 per share on a revenue of $24.8 billion, up 22 percent year-over-year, when including traffic acquisition costs (TAC). Wall Street was looking for earnings of $7.40 per share with $24.2 billion in revenue. Net revenue excluding TAC was expected to be $19.81 billion. Alphabet […]
Sometimes those of us in the news media bust our own balloons, leaving us with lots of clown makeup and nothing to hand out to the kids. And that’s how ESPN, the company that changed the world of sports, looks this week. Journey back in time to 1979 when ESPN was created. The question almost asked was simple: How will you be able to put on 24 […]
Investigators discovered that the suspect, using a false identity, registered in December 2015 with German officials in Giessen, about 40 miles north of Frankfurt, as a Syrian refugee. It was not clear what steps officials took to verify his claim, given that he appeared to speak no Arabic, Ms. Niesen said. Continue reading the main story “Why that did not catch their attention, I am not able […]
GENEVA – The U.N. human rights office says one of its independent experts will travel to Panama next month to investigate tax avoidance and evasion schemes like those revealed by the so-called “Panama Papers” leak. Juan Pablo Bohoslavsky, the office’s expert on foreign debt and human rights, has been asked by the U.N.’s Human Rights Council to study Panama’s efforts to improve financial transparency and reduce illicit […]
Dubai, 26 April, 2017: Mawarid Exchange, a leading exchange company has signed Remittance Agreement with the Land Bank of the Philippines, one of the top government financial institutions in Philippines. The agreement has been signed by Mr. Mohamed Al Nuaimi, CEO, Mawarid Exchange and Mr. Alex V. Buenaventura, President, Land Bank of the Philippines. According to this agreement, Mawarid Exchange clients shall be able to use the […]
Since at its core, yesterday’s 1-page “tax plan” was a Goldman creation, who better to explain what Trump offered than Goldman Sachs itself, which it did overnight in a far lengthier note from its chief Washington analyst Alec Phillips. Here is Goldman with an elaboration of the handful of bullet points contained on the much anticipated one page, extended to 6 pages. Q&A on the President’s Tax […]
Betting big on Amazon and selling the shares of traditional retailers has been a blockbuster trade for some time. Now, a small but growing number of hedge funds are wagering that the next leg of the woes afflicting bricks and mortar retailers in the US will unfold dramatically for those shopping mall owners who have largely so far been considered immune. The level of bets against some […]
Deutsche Bank must set its sights higher, its chief executive said on Thursday, after its core investment banking businesses were outpaced by US rivals in the first quarter of the year. In the three months to March, Germany’s biggest bank managed a net profit of €575m, more than double the €236m it posted in the same period a year earlier, and ahead of analysts’ expectations of €522m. […]
Ransomware incidents have surged 50 percent from a year ago, educational institutions are becoming a playground for cyber espionage and 68 percent of healthcare security threats are internal, according to Verizon’s 2017 Data Breach Incident Report (DBIR). The DBIR is based on data from 65 organizations, 42,068 incidents and 1,935 breaches in 84 countries. At a high level, Verizon’s DBIR isn’t that surprising. One of the recent […]
European companies have been slow to capitalise on this week’s market rally — a pause in issuing new bonds that bankers do not expect to last with borrowers set to return as the spring earnings season progresses. There was no investment grade euro bond issuance from non-financial corporates last week as debt issuers sat on the sidelines ahead of the first round of the French presidential election […]
