LONDON/NEW YORK (Reuters) -UBS on Monday announced an overhaul of its investment banking division, including naming the unit’s M&A chiefs, marking a key step in integrating Credit Suisse. UBS CEO Sergio Ermotti is seizing on the opportunity presented by the rescue takeover of Credit Suisse in March to reorganize its investment bank to better compete …
UBS shuffles bank bosses in bid to better compete with Wall Street Read More »
By Shreyashi Sanyal, Rupali Chaudhary and Khushi Singh (Reuters) -Britain’s commodity-heavy FTSE 100 index ended lower, dragged by a fall in shares of heavyweight miners on worries around weak demand from China, while gains in financials and defence firms limited declines. The FTSE 100 index fell 0.1%, while the more domestically-focussed FTSE 250 midcap index …
FTSE 100 ends lower as miners drag; defence firms rally Read More »
By Selena Li HONG KONG (Reuters) -Around 80% of Hong Kong-based investment banking staff at Credit Suisse will be made redundant starting this week, two people with knowledge of the matter said, as part of the bank’s integration with UBS Group. Only about 20 bankers will be spared the cuts that will impact Credit Suisse’s …
By Shashwat Chauhan and Sruthi Shankar (Reuters) -European stocks slipped on Monday as investors awaited key inflation figures from across the globe this week to gauge the outlook for interest rates, while shares of German group Siemens Energy reversed course after slumping earlier. Siemens Energy gained 1.1% to 15.7 euros, after having fallen as much …
European stocks slip as investors await inflation data; miners drag Read More »
BERLIN (Reuters) -Germany’s federal network regulator has rejected a request by postal service operator Deutsche Post to raise the price of a postage stamp to cover rising costs, the agency said on Monday. “We recognise the challenging environment in the letter and parcel business, but according to the data presented, letter prices are sufficient to …
German regulator rejects request for postage stamp price hike Read More »
BERLIN (Reuters) – Investor morale in the euro zone unexpectedly rose in August, ending three consecutive months of decline as inflation has lost some of its explosive power, but there are no signs of a lasting turnaround in sentiment, a survey showed on Monday. Sentix’s index for the euro zone rose to -18.9 points in …
By William Schomberg LONDON (Reuters) -British house prices fell in July for a fourth month and the slide looks set to extend into 2024, but the market showed some signs of resilience despite a rise in borrowing costs, mortgage lender Halifax said on Monday. Prices fell 0.3% from June, adding to similar falls since April, …
UK house prices fall for 4th month but market shows resilience-Halifax Read More »
BERLIN (Reuters) – German industrial production dropped more strongly than forecast in June, according to data released on Monday, underlining the challenges faced by manufacturing amid a downturn in Europe’s largest economy. Production fell by 1.5% compared with the previous month, the federal statistics office said on Monday. Analysts polled by Reuters had predicted a …
By Alexander Hübner BERLIN (Reuters) -Germany’s OHB on Monday said U.S. financial investor KKR was buying a minority stake in the space company and it planned to delist from the stock market. KKR is planning a voluntary public tender offer for all outstanding shares at a price of 44 euros ($48.34), according to OHB. That …
German space firm OHB plans to delist as KKR takes minority stake Read More »
By Jonathan Stempel (Reuters) – Berkshire Hathaway on Saturday posted its highest ever quarterly operating profit, while gains from stock holdings helped the conglomerate led by billionaire Warren Buffett swing to a nearly $36 billion overall profit. Rising interest rates, and better results at the Geico car insurer, allowed Berkshire’s insurance businesses to generate more …
Berkshire posts record operating profit as rising rates boost Buffett’s returns Read More »
