Most people will be happy to see the back of the combustion engine. Cleaner air and less dependence on oil are good reasons to look forward to the mass adoption of electric cars. But for the 3 million or so Europeans working in the auto industry, the transition to the new technology is a source of great anxiety. While the ...

It makes sense for investment banks to cut businesses where they’re too small to be competitive and staying in is costly. So Deutsche Bank AG’s exit from equities trading is overdue. That doesn’t mean life is going to get any easier, in Asia at least. The German lender is counting on its strength in fixed-income and currencies trading to pivot ...

Asset managers are increasingly using their financial clout to persuade companies to be friendlier to the planet, wielding a combination of the stick of disinvestment and the carrot of engagement. But can the financial world do more to ensure countries and their central banks are also meeting their environmental, social and governance responsibilities? Travel platform from AtoB.com scrutinised the 2018 ...

Before I offer thoughts on President Donald Trump’s latest two nominees to the Federal Reserve’s Board of Governors and the challenges they face, some full disclosures are in order. I interviewed for one of the open governor positions at the White House in late May. I have an unconventional background for a Fed governor as I don’t have a Ph.D. ...

It will take more than a few protests to cool Hong Kong’s real estate market. The latest round of social unrest has homeowners worried that the local economy, especially the property sector, will suffer. In fact, the market is only going to get hotter — if it can weather the current round of chaos. The city has been in turbulence ...

As a child in 1943, the Indian economist Amartya Sen watched one of the worst famines of the 20th century sweep through his native Bengal. Contrary to the popular image, the disaster didn’t manifest as a widespread shortage of food, he later wrote. The middle classes hadn’t “experienced the slightest problem during the entire famine,” which primarily affected ”landless rural ...

Bloomberg At the start of a week stuffed with central-bank activity, US equities fell and European stocks drifted following steep share declines in Asia. Treasuries advanced as investors greeted on Monday in a cautious mood. The S&P 500 fell for a second day after the blow-out jobs report altered market calculus for Federal Reserve rate cuts, though equities came off ...

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 ...