Former Swiss banker convicted for giving secret tax data to Germany
A former UBS banker accused of selling information about wealthy German tax evaders to German authorities was convicted of economic espionage by a Swiss court on Monday.
Oil rises as investors latch on to OPEC cuts, supply outlook
Oil rose on Monday, reversing earlier losses, as investors latched on to positive supply-side drivers for the market, although concern about the wider economy simmered in the background after data pointed to a slowdown in China.
Asset managers brace for more job cuts amid market turbulence
Turmoil on financial markets is expected to deepen layoffs and accelerate acquisitions in the fund management industry.
Tesla’s Model 3 gets green light in Europe
Tesla’s Model 3 has been given the green light to hit the road in Europe, clearing the final hurdle for the European introduction of the battery-powered sedan expected next month.
France, Germany step up pressure over Alstom-Siemens deal
France and Germany raised pressure on the European Union’s competition chief to approve the merger of Alstom and Siemens’ rail businesses, warning that thwarting the proposed European champion would be a strategic error.
Siemens: Key to have dialogue based on trust with EU about Alstom deal
Siemens Chief Executive Joe Kaeser said on Monday it was important to have a dialogue based on trust with European Competition Commissioner Margrethe Vestager about a planned merger of Siemens’ and Alstom’s rail businesses.
IMF fears trade war and weak Europe could trigger sharp global slowdown
The International Monetary Fund on Monday cut its world economic growth forecasts for 2019 and 2020 due to weakness in Europe and some emerging markets, and said failure to resolve trade tensions could further destabilize a slowing global economy.
Germany: Siemens/Alstom deal could increase competitiveness
German Economy Minister Peter Altmaier said on Monday that the aim of a planned merger of Alstom and Siemens’ rail businesses was to increase competitiveness, adding that this goal was achievable.
Amid ‘yellow vest’ rebellion, Macron woos business leaders
President Emmanuel Macron will tell dozens of the world’s most powerful executives on Tuesday that he remains committed to reforming the French economy, reassuring investors as a sometimes-violent popular revolt challenges his authority.
IMF cuts global growth outlook, cites trade war and weak Europe
The International Monetary Fund on Monday cut its world economic growth forecasts for 2019 and 2020, due to weakness in Europe and some emerging markets, and said failure to resolve trade tensions could further destabilize a slowing global economy.
