Deutsche Bank restructuring to cost up to $5.6 billion: source
Deutsche Bank expects the cost of a major overhaul in the works to be up to 5 billion euros ($3.4-$5.6 billion), one person familiar with the matter said on Wednesday.
Walmart discussed selling clothing brands Bonobos and Modcloth: Vox
Walmart Inc has discussed the potential sale of its unprofitable clothing brands Bonobos and Modcloth with buyers, online news portal Vox reported https://www.vox.com/recode/2019/7/3/18716431/walmart-jet-marc-lore-modcloth-amazon-ecommerce-losses-onli…
UK markets watchdog proposes retail ban on crypto derivatives
Britain’s markets watchdog is proposing banning the sale of derivatives based on crypto-assets to retail consumers from early 2020 due to what it considers the prevalence of market abuses.
HP, Dell, other tech firms plan to shift production out of China: Nikkei
Several major U.S.-based technology companies are planning to shift substantial production out of China, spurred by a bitter trade war between Washington and Beijing, the Nikkei reported on Wednesday, citing sources.
Police search Renault’s headquarters near Paris as part of Ghosn probe
Police are searching Renault’s corporate headquarters in Boulogne-Billancourt, which a judicial source said was related to an ongoing investigation into ex-Renault boss Carlos Ghosn and his use of Versailles for his 2016 wedding party.
Oil prices rise after U.S. crude stockpile drop
Oil prices rebounded on Wednesday after a steep fall in the previous session when OPEC and its allies’ decision to extend output cuts was not enough to counter investors’ concerns about the slowing global economy.
Europe rallies as bond yields plough new lows
Action on world markets focused on bonds on Wednesday, with a fresh slide in benchmark debt yields on simmering global trade war and recession fears, central bank easing bets and ebbing oil prices.
Oil prices steady amid U.S. stockpile drop, OPEC supply cut extension
Oil prices were steady on Wednesday after a steep fall in the previous session, supported by extended output cuts by OPEC and its allies despite concerns that a slowing global economy could crimp demand.
Samsung Electronics’ second-quarter profit likely halved as Huawei woes worsen chip glut
Samsung Electronics is likely to say second-quarter profit more than halved when it reports preliminary earnings on Friday, data showed, as a drop in memory chip shipments to China’s embattled Huawei exacerbated a price-squeezing supply glut.
Eva Air cancels hundreds more flights as cabin crew strike drags on
Taiwan’s Eva Airways has canceled 550 more flights scheduled through mid-July as a cabin crew strike entered its 14th day, after latest negotiations on work conditions and wages broke down this week.
