Bloomberg Deutsche Bank AG shareholders have called for Chief Executive Officer Christian Sewing to end his role in supervising the investment banking division amid concern it may distract him from his main job, the Telegraph reported. Deka Investment, one of the bank’s shareholders, called it “unusual†for a CEO to run a division while there’s ongoing restructuring involving 18,000 job …
Read More »Nigeria bond yields plunge to record low
Bloomberg Nigerian local-currency bond yields have plunged to 18-month lows as investors pile into the debt after the central bank restricted sales of higher-yielding, shorter-term central-bank securities. The average yield for naira government bonds has dropped 117 basis points to 13.03% since the central bank moved to block individuals and non-bank firms from buying so-called open-market operations (OMOs) on October …
Read More »Vietnam’s Military Bank to raise $240mn
Bloomberg Vietnam’s Military Commercial Joint Stock Bank plans to raise about $240 million from the sale of a 7.5% stake to foreign investors via a private placement, according to people familiar with the matter. The sale of the 7.5% stake, or 141.5 million new shares and 47 million treasury shares, is expected to be completed by the end of this …
Read More »Viral tweet about Apple card leads to Goldman Sachs probe
Bloomberg A Wall Street regulator is opening a probe into Goldman Sachs Group Inc’s credit card practices after a viral tweet from a tech entrepreneur alleged gender discrimination in the new Apple Card’s algorithms when determining credit limits. A series of posts from David Heinemeier Hansson starting railed against the Apple Card for giving him 20 times the credit limit …
Read More »Get ready as ‘beta-chasing’ stock managers try to make up ground
Bloomberg It’s been the same trade all year. A recession is coming, so get defensive. Now the strategy is unwinding and stock managers who toed the line all the way into November have furious catching up to do. That’s bad if you’re in charge of an equity portfolio that’s straggling. But for anyone hoping to ride along with more upward …
Read More »Morgan Stanley going cold on European stocks
Bloomberg After sending European stocks surging to multi-year highs on trade optimism, investors may hit the brakes on the rally, according to Morgan Stanley. Optimism about a US-China trade deal and receding risks of no-deal Brexit have boosted shares in recent weeks, with the Stoxx Europe 600 Index now less than 2% away from a record high reached in 2015. …
Read More »Aramco’s record IPO starts on Nov 17
Bloomberg Saudi Aramco will allow investors to start bidding for shares in the world’s most-profitable company from November 17. The Saudi stock exchange rules prohibits the oil giant from listing additional shares for six months after the start of trading, according to its more than 650-page prospectus. Also, the Saudi government, the company’s sole owner, won’t offer any additional shares …
Read More »Alberta loosens oil curbs
Bloomberg Alberta loosened crude-oil production limits for second time in two weeks, exempting new conventional wells from output caps in a bid to spur drilling and boost employment. Alberta is trying to allow more oil production without overwhelming the province’s strained pipeline network.
Read More »Ireland’s ESB nears deal for stake in Scottish wind farm
Bloomberg Electricity Supply Board (ESB), the state-owned Irish utility, is in advanced talks to buy a stake in a Scottish offshore wind farm project owned by Electricite de France SA, people familiar with the matter said. A deal for a 50% holding in the Neart na Gaoithe development could be announced as soon as the next few weeks, the people …
Read More »Southwest, American see 737 Max absence nearing one year
Bloomberg Southwest Airlines Co and American Airlines Group Inc said they will remove the 737 Max from their flight schedules through early March — almost a year since Boeing Co’s best-selling jet was grounded worldwide after two deadly crashes. The plan to pull the plane from Southwest’s schedule through March 6 is due to “continued uncertainty around the timing of …
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