Cuts to pay and perks trigger flight from China’s state banks
SHANGHAI/HONG KONG (Reuters) – Bankers at China’s top state lenders are quitting in increasing numbers because of cuts to their pay and perks, and moving to a new breed of financial firms such as leasing companies, trusts and online platforms, bankers …
Ferdinand Piech resigns, ending an era at Volkswagen
HAMBURG/FRANKFURT (Reuters) – Ferdinand Piech, a towering figure at Volkswagen for more than two decades, resigned as its chairman on Saturday after losing a showdown he had provoked with Chief Executive Martin Winterkorn, ending an era at the iconic G…
Greece, lenders must reach deal by early May, Deputy PM tells paper
ATHENS (Reuters) – Greece and its lenders must reach a reform deal by early May to address Greece’s need for cash, Deputy Prime Minister Yannis Dragasakis said in an interview with a Greek newspaper published on Saturday.
Abercrombie & Fitch to ditch ‘sexualized marketing’: Washington Post
WASHINGTON (Reuters) – Retail clothing chain Abercrombie & Fitch will end by July its “sexualized marketing,” after years of blanketing its web sites, store windows and shopping bags with photos of half-naked men, according to the Washington Post.
Up to 150,000 Bangladesh workers lost jobs after Rana Plaza safety overhaul
DHAKA (Reuters) – Some 220 garment factories have shut down in Bangladesh with the loss of up to 150,000 jobs after the collapse of Rana Plaza shone a light on unsafe working conditions in the ready-to-wear industry, triggering a wave of inspections, a…
UBI doesn’t rule out Monte Paschi tie-up but won’t be pushed into bad deal: CEO
BERGAMO, Italy (Reuters) – UBI , Italy’s fifth-biggest bank, does not rule out a tie-up with troubled Monte dei Paschi di Siena but will not be pushed into an unwanted deal, its chief executive said on Saturday.
Deutsche faces tough task paring back retail, investment banking
FRANKFURT (Reuters) – If running a global bank is complicated, cutting one back is even more difficult.
Greece’s governors agree to lend cash to central government
ATHENS (Reuters) – Greece’s governors and other local officials agreed on Saturday to lend cash to the near-bankrupt central government after Prime Minister Alexis Tsipras assured them the measure would last for only a short period of time.
Germany hints at preparations of a Plan B on Greece
RIGA (Reuters) – German Finance Minister Wolfgang Schaeuble hinted on Saturday that Berlin was preparing for a possible Greek default, drawing a parallel with the secrecy of German reunification plans in 1989.
UBS chairman says Greek default increasingly seen by IMF as controllable
ZURICH (Reuters) – UBS’s chairman said a default by Greece is seen by the International Monetary Fund as “systemically controllable” and he believed it would have a negligible impact on the Swiss bank itself, according to a newspaper interview publishe…
