Deutsche Bank found in ‘material non-compliance’ with Dubai regulator
DUBAI (Reuters) – The regulator of Dubai’s tax-free financial centre said on Sunday that Deutsche Bank had been found to be in “material non-compliance” with orders to provide information as part of an investigation into alleged rule breaches.
China corruption crackdown hits catering sector: state media
BEIJING (Reuters) – China’s catering sector grew at its slowest pace in more than two decades in 2013 as diners avoided splashing out in luxury restaurants during an anti-corruption campaign targeting official excess, according to state media.
Yahoo to partner with Yelp on local search engine results: WSJ
(Reuters) – Internet portal Yahoo is partnering with consumer reviews website Yelp to beef up local results in its search engine, the Wall Street Journal reported on Saturday.
GM, Ford dealers boost discounts on big trucks
DETROIT (Reuters) – General Motors Co is boosting discounts on full-size pickup trucks by thousands of dollars to keep pace with competitors and to whittle down bulging inventories on dealers’ lots.
Nestle looking at options to reduce L’Oreal stake: Bloomberg
ZURICH (Reuters) – Nestle , the world’s biggest food company, is looking at ways to reduce its $30 billion stake in cosmetics firm L’Oreal , Bloomberg reported on Saturday, citing sources with knowledge of the matter.
Monte Paschi foundation in talks with Qatar on stake sale: report
MILAN (Reuters) – The Qatar sovereign fund is in talks with the main shareholder of Banca Monte dei Paschi di Siena to buy a 15-20 percent stake in the troubled Italian lender ahead of its much-awaited rights issue, daily Il Messaggero said on Saturday…
ECB’s Visco tells Italy’s banks to be ‘ambitious’ in purging bad debts
ROME (Reuters) – Bank of Italy Governor Ignazio Visco on Saturday backed moves by some of the country’s lenders to get rid of non-performing loans on their books and suggested they could consider “more ambitious” approaches.
Deutsche Bank moving closer to Kirch settlement: sources
BERLIN (Reuters) – Deutsche Bank is getting closer to settling a long-running lawsuit with the heirs of late media mogul Leo Kirch who blame Germany’s biggest bank for the downfall of his business, sources with knowledge of the matter said.
Analysis: German court’s ECB move leaves sovereignty unresolved
PARIS (Reuters) – By referring a complaint against the European Central Bank’s bond-buying policy to the European Court of Justice, Germany’s constitutional court has sidestepped a crucial dispute over who has ultimate authority in the European Union.
China to extend subsidies on electric cars past 2015
BEIJING (Reuters) – China’s Finance Ministry said on Saturday it will extend a programme of subsidies for buyers of electric-powered vehicles after the current subsidy regime, part of efforts to combat pollution in cities, expires in 2015.
