Tech powers Wall Street’s recovery; banks reel under Fed’s dovish stance
A tech rally led by Apple Inc pushed Wall Street’s main indexes higher on Thursday, offseting losses in U.S. lenders after the Federal Reserve decided not to raise interest rates this year.
Deutsche Bank CEO sees strong case for Commerzbank merger: source
Deutsche Bank chief executive Christian Sewing believes there is a strong case for a merger with Commerzbank, a person with direct knowledge of his thinking said.
German politicians split over bankrolling Deutsche Bank merger
A political rift has emerged in Berlin over whether Germany should put its financial muscle behind a merger of Deutsche Bank and Commerzbank, politicians and officials said, complicating a bid to create Europe’s third-largest bank and fund it.
Beneath Fed’s positive spin, an embrace of a tepid future
Federal Reserve policymakers see a U.S. economy that is rapidly losing momentum. They predict inflation will miss their 2 percent target for yet another year, despite rising wages, and they expect unemployment to increase.
Facebook fixes glitch that exposed millions of user passwords to employees
Facebook Inc said on Thursday it has resolved a glitch that exposed passwords of millions of users stored in readable format within its internal systems to its employees.
Wall Street leads stock higher; sterling falls further
A measure of stocks across the globe rose in a volatile session on Thursday, led by gains on Wall Street, while the dollar rallied as traders continued to digest the Federal Reserve’s uber-dovish stance.
Wells Fargo in talks with ex-Goldman exec Schwartz to be its next CEO: New York Post
Wells Fargo’s board is in talks with Harvey Schwartz, the former president and co-chief operating officer of Goldman Sachs, to take over as the bank’s next chief executive, the New York Post reported on Thursday, citing people briefed on the talks.
World wants answers from Indonesia and Ethiopia crashes
Indonesian investigators described the panic of pilots grappling with airspeed and altitude problems in the last moments of their doomed Lion Air flight, as comparisons mounted to a disaster in Ethiopia and authorities queued up to question Boeing.
Deutsche Bank supervisory board debated merger for three hours: source
Deutsche Bank’s supervisory board debated a possible merger with rival Commerzbank for three hours at a meeting on Thursday, a person with direct knowledge of the matter said.
U.S. government sued for access to auto tariff probe report
A conservative group has sued the U.S. government for access to a report on whether auto imports pose a big enough security risk to justify hefty tariffs on the sector, part of a growing chorus demanding a copy of the document.
