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Deutsche Bank watchdogs sceptical of board nominee

Bloomberg Some of Deutsche Bank AG’s top financial supervisors have doubts that Chief Executive Officer Christian Sewing’s latest pick for the management board is qualified for the job. Several watchdogs are worried that Michael Ilgner, hired as head of human resources from a small non-profit, doesn’t have experience leading large organisations or the banking background needed to join the top ...

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France to see slow growth

Bloomberg French economic growth will cool slightly at the end of the year amid pressure on industry from the global slowdown, the Bank of France said. The softer pace of expansion indicates the euro area’s second-largest economy isn’t immune to the downturn in trade and manufacturing that’s hurting countries across the currency bloc. Until now, France had shown more resilience ...

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ECB could work with non-banks: Coeure

Bloomberg The European Central Bank (ECB)could consider giving non-banks access to its balance sheet to keep control over money-market rates, according to Executive Board member Benoit Coeure. Speaking at a money-market workshop in Frankfurt, Coeure highlighted a “possible risk” that the new short-term rate called ESTR — designed to provide a more complete picture of actual borrowing conditions — “might ...

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