U.S. fines Deutsche Bank $16 million to settle China, Russia corruption charges
Deutsche Bank has agreed to pay more than $16 million to settle charges that it violated U.S. corruption laws by hiring relatives of foreign government officials in order to win or retain business, the U.S. regulator said in a statement.
Stock futures edge higher before Powell speech
U.S. stock index futures edged higher on Friday as investors looked to Federal Reserve Chair Jerome Powell’s speech at a meeting of central bankers in Jackson Hole for confirmation that the central bank will cut interest rates next month.
SoftBank-backed Oyo, known for budget stays, to rebrand Hooters hotel in Vegas
SoftBank Group Corp-backed Indian hospitality startup Oyo will rebrand Hooters Casino Hotel in Las Vegas in a deal that a source with knowledge of the matter said was worth $135 million.
Huawei says U.S. curbs to cut smartphone unit’s revenue by over $10 billion
Chinese technology giant Huawei said on Friday the impact of U.S. trade restrictions on its business will be less than what it initially feared, though the curbs could push its smartphone unit’s revenue lower by about $10 billion this year.
Swedish regulator delays Swedbank money-laundering probe report
The Swedish Financial Supervisory Authority (FSA) will publish the conclusions of its probe into alleged money laundering in the Baltics by the beginning of next year, it said on Friday, pushing back the deadline by several months.
Thyssenkrupp, Kloeckner in talks over co-operation in materials trading: sources
Thyssenkrupp is in talks with Kloeckner & Co over future cooperation in materials trading, but is not working on a near-term takeover of the metals firm, three people familiar with the matter said.
Deutsche Bank to transfer up to 800 to BNP in prime brokerage deal: source
A deal in the works for BNP Paribas to assume the prime brokerage operations of Deutsche Bank will involve the transfer of up to 800 people, a person with knowledge of the matter said on Friday.
Tesla in advanced talks with LG Chem on battery supply in China: source
U.S. electric vehicle maker Tesla Inc is in advanced talks with South Korea’s LG Chem Ltd to source batteries for vehicles to be made in its Shanghai plant, a person familiar with the matter said.
Stocks, dollar climb before Powell’s Jackson Hole speech
World stock markets and the dollar rose on Friday as investors looked to a speech by Federal Reserve chair Jerome Powell for clarification on whether the U.S. central bank remains on course to deliver another interest rate cut in next month.
Huawei says impact of U.S. trade restrictions less than feared
Chinese smartphone maker Huawei Technologies said on Friday its business has been less impacted by U.S. trade restrictions than the company had initially feared and it is “fully prepared” to live and work with U.S. sanctions.
