Exclusive: Deutsche Bank to cut workforce by a quarter – sources
FRANKFURT (Reuters) – Deutsche Bank aims to cut roughly 23,000 jobs, or about one quarter of total staff, through layoffs mainly in technology activities and by spinning off its PostBank division, financial sources said on Monday.
Credit Suisse to pay $80 million to settle dark pool allegations: Bloomberg
(Reuters) – Credit Suisse Group AG will pay more than $80 million to settle allegations that it did not disclose how it operated its dark pool private share trading exchange to clients, Bloomberg reported, citing a person familiar with the matter.
Russian watchdog says Google violating competition law
MOSCOW (Reuters) – Russia’s anti-monopoly agency said on Monday Google Inc was abusing its market position in the country and would face penalties, in a case launched by local competitor Yandex .
U.S. prosecutors in talks with second suspect tied to JPMorgan hack
NEW YORK (Reuters) – U.S. prosecutors have disclosed they are in discussions to resolve a case against a second Florida man linked to a massive data breach at JPMorgan Chase & Co, after saying they are engaged in similar talks with his co-defendant.
UniCredit plans to cut around 10,000 jobs: source
SARAJEVO (Reuters) – UniCredit , Italy’s biggest bank by assets, is planning to cut around 10,000 jobs, or 7 percent of its workforce, as it seeks to slash costs and boost profits, a source at the bank told Reuters on Monday.
China grabs unused funds to spend on new projects as growth slows
BEIJING/SHANGHAI (Reuters) – Chinese authorities have seized up to 1 trillion yuan ($157 billion) from local governments who failed to use their budget allocations, sources said, as Beijing looks for ways to spend its way out of an economic slowdown.
Porsche and Audi unveil electric cars to take on Tesla
FRANKFURT (Reuters) – The high-performance electric car market is shaping up to be a high-profile battleground featuring some of the world’s most glamorous brands after Porsche and Audi unveiled models to challenge U.S. pioneer Tesla Motors .
Volkswagen CEO says still seeking new finance chief
FRANKFURT (Reuters) – Volkswagen has not yet found a successor to finance chief Hans Dieter Poetsch, who will become the carmaker’s next chairman, Chief Executive Martin Winterkorn said on Monday.
Deutsche Bank to close almost all Russian operations: sources
FRANKFURT/MOSCOW (Reuters) – Deutsche Bank has decided to close its Russian operations, apart from transaction banking services, two financial sources told Reuters on Monday.
VW China unit to recall 78,000 cars over air bag defect: regulator
BEIJING (Reuters) – A China unit of Volkswagen will recall 78,000 vehicles over a potential defect that could prevent driver-side air bags from deploying properly, China’s safety regulator said on Monday.
