Deutsche Bank shares rose in pre-market trade on Monday as the German lender eliminated whole teams at its Asian operations, starting to ax 18,000 jobs globally in one of the biggest overhauls at an investment bank since the aftermath of the financial crisis.
China's central bank could cut its benchmark policy rate for the first time in four years if the U.S. Federal Reserve delivers a widely expected cut in late July, analysts say, as Chinese policymakers step up support for the slowing economy.
Volkswagen will create joint ventures and help finance battery production to persuade skeptical cell suppliers to back its aggressive push for mass producing electric vehicles, board member Stefan Sommer told Reuters.
Deutsche Bank shares rose on Monday as it launched one of the biggest overhauls of its investment bank since the financial crisis by cutting 18,000 jobs around the world, starting the day with cuts in Asia.
China's central bank could cut its benchmark policy rate for the first time in four years if the U.S. Federal Reserve delivers a widely expected cut in late July, analysts say, as Chinese policymakers step up support for the slowing economy.
Whole teams within Deutsche Bank AG have been told their positions were gone on Monday, as the lender began axing 18,000 jobs globally in one of the biggest overhauls to an investment bank since the aftermath of the financial crisis.
British Airways-owner IAG is facing a record $230 million fine for the theft of data from 500,000 customers from its website last year under tough new data-protection rules policed by the UK's Information Commissioner's Office (ICO).
Russia plans to produce at least another 200 Sukhoi Superjet 100 aircraft, Industry Minister Denis Manturov told Reuters, despite a fatal crash that raised questions about the future of the country's first new passenger jet since the Soviet Union.
Oil prices rose on Monday, boosted by escalating tensions around Iran's nuclear program and better-than-expected U.S. jobs data.
Deutsche Bank aims to break even or turn a profit in 2020 but there is "significant uncertainty in that forecast", the bank's finance chief said on Monday.
Global shares were in a muted mood on Monday after strong U.S. job gains tempered expectations the Federal Reserve will deliver a large rate cut, but Deutsche Bank gained nearly 4% as it launched a major restructuring.
Deutsche Bank laid off staff in Asia on Monday as it began cutting 18,000 jobs as part of a 7.4 billion euro ($8.3 billion) "reinvention" set to tip Germany's largest lender into yet another annual loss.
Deutsche Bank's capital-boosting Additional Tier I (AT1) debt issues fell on Monday on worries over future challenges Germany's biggest lender may face in a planned overhaul.
Waymo is rolling out amenities to entice riders to use its self-driving taxis, creating a potential route to profitability in a money-losing industry.
Huawei aims to spend 3 billion zlotys ($793 million) in Poland in the next five years, although whether the Chinese firm has a role in the 5G rollout may affect the scale of investment, an official at the group's Polish unit said.