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Bloomberg Deutsche Bank AG is giving Marcus Schenck, co-head of the newly combined investment bank and trading business, responsibility for overseeing clients in a reorganization that will see the bank focus on corporate customers, according to a copy of a memo seen by Bloomberg. Schenck will also take charge of corporate finance, global capital markets and the institutional client group, ...

Bloomberg Australian central bank Governor Philip Lowe said his economy is capable of faster growth if lawmakers can overcome political gridlock, while warning weak wage gains are likely to keep plaguing developed nations. “It is important that we have a sharp focus on the reforms that can make a real difference to our living standards,” Lowe said in a speech ...

DUBAI­­­­ / Reuters Saudi Energy Minister Khalid al-Falih said the oil market is heading in the right direction but still needs time to rebalance, the London-based newspaper Asharq al-Awsat reported on Monday. “In my opinion, market fundamentals are going in the right direction, but in light of the large surplus in stockpiles over the past years, the cut needs time ...

Bloomberg New energy, meet new finance. That’s the thinking of Taiwan’s government, which is starting to map out funding plans for a power system that can no longer rely on nuclear reactors. Prime Minister Lin Chuan’s administration aims to increase the share of renewable energy such as water, wind and solar to 20 percent of total power output on the ...

Bloomberg Oil traded below $45 a barrel following a fourth weekly loss as US drillers continued to add rigs, blunting OPEC-led efforts to rebalance an oversupplied market. Futures fell as much as 0.7 percent in New York after capping the longest run of weekly declines since August 2015. US drillers targeting crude added rigs for a 22nd straight week, the ...

CAIRO­­­­ / Reuters Saudi Arabia is banning imports of Egyptian strawberries due to pesticide residues, said Abdel Hamid al-Demerdash, the head of Egypt’s Agriculture Export Council, the latest such ban to hit Egypt as it struggles to revive its economy. The temporary ban comes into effect on July 11, Demerdash told Reuters, adding that the memo received from Saudi Arabia ...

Bloomberg In the tight-knit Outback town of Narrabri, the cold-shoulder treatment farmer Peter Gett has felt over the natural gas wells on his property has shown him that promoting Australia’s energy security comes at a cost. The fifth-generation wheat grower opened gates and cleared tracks to smooth a path for exploration of the gas reserves beneath his farm. Seven years ...

Bloomberg A long list of potential buyers has expressed interest in the Nordic and Baltic businesses that Intrum Justitia AB and Lindorff need to divest to proceed with their merger, according to Intrum’s chief executive officer. CEO Mikael Ericson says he is confident the two firms can sell Lindorff’s entire business in Denmark, Estonia, Finland and Sweden, as well as ...

Bloomberg Delivery Hero AG plans an initial public offering valuing the company at as much as 4.39 billion euros ($4.9 billion) as the Rocket Internet SE-backed food-delivery startup seeks funds for growth. The company and current owners will sell as much as 996 million euros in stock for 22 euros to 25.50 euros apiece, according to a statement on Monday. ...

Bloomberg London home sellers cut asking prices for a second time in three months and waning buyer interest hints that the slowdown may continue. Prices dropped 2.4 percent in June — the biggest for that month since 2010 — leaving them down 1.4 percent from a year earlier, Rightmove Plc said on Monday. Nationally, asking prices slipped 0.4 percent, pushing ...