Bloomberg The status of the world’s least favourite asset has its benefits. Morgan Stanley, which just slashed global equities to underweight on growth concerns, believes that European stocks can outperform weaker markets. Although European equities have over the past 30 years tended to decline more than global markets during corrections, that relationship is changing, strategists led by Graham Secker said …

Bloomberg Deutsche Bank AG unveiled a radical overhaul that will see the lender exit its equities business, post a $3.1 billion second-quarter loss and cut the workforce by a fifth to reverse a slide in profitability. Chief Executive Officer Christian Sewing will shelve the dividend this year and then take restructuring charges of 7.4 billion euros through 2022 to pay …

Bloomberg One of Japan’s biggest regional banks is resuming an expansion overseas, 20 years after the country’s financial crisis forced it to retreat. Concordia Financial Group Ltd plans to expand in Asia to offer cash management services to its Japanese corporate clients and infrastructure loans to local entities, president Kenichi Kawamura said. It aims to hire specialists and double overseas …