VW board members demanded Piech go after learning of secret plot
BERLIN/FRANKFURT (Reuters) – Ferdinand Piech, who resigned as chairman of Volkswagen over the weekend, sowed the seeds of his own demise by reneging on a deal to support CEO Martin Winterkorn and secretly plotting to oust him instead, according to sour…
UK government would oppose any takeover of BP: FT
(Reuters) – Britain’s outgoing government has told BP Plc that it wants the company to remain a British industrial champion and it would oppose any takeover of the oil producer, the Financial Times reported.
SEC’s stock market reform club locks out retail brokers
NEW YORK (Reuters) – The U.S. Securities and Exchange Commission is convening a group of financial industry veterans for the first time next month to consider stock market reforms, but one group will be conspicuously absent: retail brokerages.
German Chancellor, Greek PM agree to stay in touch to reach debt deal
ATHENS (Reuters) – Greek Prime Minister Alexis Tsipras and German Chancellor Angela Merkel agreed in a phone conversation on Sunday to maintain contact during talks between Athens and its lenders to reach a debt deal, a Greek government official said.
HSBC considering spinning off British retail bank: Sunday Times
(Reuters) – HSBC , Europe’s biggest bank, is weighing plans to spin off its British retail bank in a 20 billion-pound ($30.37 billion) deal, the Sunday Times reported.
Deutsche Bank first-quarter profit falls by half as legal charges bite
FRANKFURT (Reuters) – Deutsche Bank’s earnings fell by half in the first quarter, a greater-than-expected drop as hefty legal charges eroded gains in investment banking revenue, while it prepares to unveil details of a strategic overhaul.
If Greece falls, no one wants their prints on the murder weapon
BRUSSELS (Reuters) – “We’re going bust.” “No, you’re not.” “You’re strangling us.” “No we’re not.” “You owe us for World War Two.” “We gave already.”
Pop Milano sits pretty as Italy cooperative banks brace for M&A
MILAN (Reuters) – At least five investment banks are vying to win a mandate from Banca Popolare di Milano (BPM) and find it a partner as Italian cooperative lenders gear up for a wave of mergers following a landmark reform of the sector.
More central banks meet, but ability to pilot economies in doubt
LONDON (Reuters) – Most central banks have been easing policy since the start of the year and are set to do more, but it still isn’t clear whether that new activism, which has pushed stock markets to record highs, will help the global economy much.
Nokia denies return to phone manufacturing
HELSINKI (Reuters) – Finland’s Nokia denied reports in Chinese media that it planned to return to manufacturing phones.
