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Bloomberg A day after the first doubts emerged about Deutsche Bank’s fresh turnaround plan, the European Central Bank (ECB) stepped in to allay at least some of them. The ECB said it will study options to mitigate the punitive effect of negative interest rates on euro area banks, pushing Deutsche Bank’s stock to the highest in almost three months. The ...

Bloomberg Nedbank Group Ltd is in talks with about 1,500 employees over potential job cuts at the South African lender’s retail and business-banking division to cope with a struggling economy and increased competition. The company forecasts that “between 50 and 100 employees are at risk of not being placed in a role,” Johannesburg-based Nedbank said in an emailed response to ...

Bloomberg China plans to start regulating large conglomerates that may pose systemic risks to the nation’s financial sector. Certain non-financial firms or individuals with businesses that straddle at least two financial industries will be classified as “financial holding companies” and will need licenses from the People’s Bank of China to operate, the regulator said in proposals. If adopted, the rules ...

Bloomberg Europe has identified five candidates to succeed Christine Lagarde as chief of the International Monetary Fund (IMF) as the lender set a September 6 deadline for applicants. The contenders are Spanish Finance Minister Nadia Calvino, Portuguese Finance Minister Mario Centeno, former Dutch finance minister JeroenDijsselbloem, World Bank chief executive KristalinaGeorgieva of Bulgaria and Bank of Finland Governor Olli Rehn, ...

Bloomberg Boeing warned it will consider slowing or even temporarily halting production of 737 Max, the company’s most important jetliner, if a global flying ban drags on longer than anticipated. The planemaker’s best estimate is that it will submit software updates and paperwork for the Max by September to the US Federal Aviation Administration (FAA), followed weeks later by approval ...

Bloomberg US buyout firm Advent International Corp agreed to acquire UK defense and aerospace company Cobham Plc for about 4 billion pounds ($5 billion), as cash-flush private-equity firms seek targets in Britain. Cobham shareholders will receive 165 pence a share in cash, a 34 percent premium to the closing price, the companies said. The stock traded 35 percent higher at ...

Bloomberg Chipotle Mexican Grill Inc jumped after second-quarter earnings showed the burrito chain’s investment in digital ordering, delivery and advertising is paying off. Same-store sales, a key gauge of success for restaurants, rose 10 percent, compared with the 8.4 percent projected by analysts surveyed by Consensus Metrix. That’s the 10th straight quarter in positive territory and shows the company is ...

Bloomberg Starwood Capital Group and Apollo Global Management have submitted offers to buy an aircraft-financing business owned by General Electric Co, which could fetch around $4 billion, according to people familiar with the matter. GE is working with advisers as it explores a possible sale of PK AirFinance, a subsidiary of the conglomerate’s broader aircraft-leasing business known as GECAS, said ...

Bloomberg President Donald Trump rejected Apple Inc’s bid to avoid tariffs on some computer parts it manufactures in China, saying the company should instead make the components in the US. The Cupertino, California-based technology giant has asked the Trump administration to exclude key components that make up the forthcoming Mac Pro high-end desktop computer from 25 percent import tariffs, weeks ...

Bloomberg Wanda Sports Group Co fell 36 percent in its trading debut after its US initial public offering raised only $190 million, less than half its earlier goal for the listing. The American depositary shares priced in the IPO at $8 and then opened at $6. The shares ended the day worth only $5.16 a share, valuing the Beijing-based company ...