Deutsche Bank may soon reintegrate Postbank, the Bonn-based institute bought in several steps from 2008 for a total of €6 billion and then placed on the market. This was revealed by the Sueddeutsche Zeitung, citing information gathered in financial circles. Sources said no serious buyers emerged after Deutsche Bank put the unit up for sale and that a potential listing of Postbank also would be difficult in the current market environment.
The Post continues the reduction of their traditional offices: from the existing 1,400 today, it will come down to a number between 800 and 900 by 2020. In a statement today, the yellow giant announced that 1,200 employees "may be affected by a change". There were however no planned layoffs. Over the next four years, the company intends to continue the development of the network access points, taking them from the current 3,700 to at least 4,000. If possible, it will continue to focus on the format tested by years of agency or branch with partners.
Euro zone officials on Tuesday said they had approved €2.8 billion for Greece from its huge third bailout after the country delivered the needed reforms. After the latest disbursement approved by the European Stability Mechanism, Greece will have received €31.7 billion of the €86 billion bailout granted in July 2015, its third since being engulfed by debt in 2010.
Apple posted a quarterly revenue of $46.9 billion and quarterly net income of $9 billion. For the same quarter in 2015, these numbers were $51.5 billion and $11.1 billion, repectively. International sales accounted for 62% of the Q4’s revenue ended September 24, 2016. The quarterly results marked the third straight quarter where Apple posted a year-over-year revenue decline.
Novartis saw net profit slip in the third quarter as the loss of a key drug to generic use in the United States outweighed strong sales of its psoriasis drug Cosentyx and MS treatment Gilenya. Swiss drug company reported third-quarter net income from continuing operations of $1.9 billion, an increase of 7% year-over-year, up more than operating income mainly due to higher income from associated companies.
U.S. consumer confidence fell back more than expected in October, dampening optimism over the health the U.S. economy, industry data showed on Tuesday. The index had been on a big run-up for the past 5 months. In a report, the Conference Board, a market research group, said its index of consumer confidence fell to 98.6 this month from a reading of 103.5 in September, whose figure was revised from a previously reported 104.1. Analysts had expected the index to drop to 101.0 in September.
Italy will also get information on bank accounts abroad next year, thanks to agreements with Switzerland and Liechtenstein. The deal allows to the Italian tax authorities not to wait that taxpayers, with cash and assets deposited abroad, regularize their position. In order to hunt down the cash, the tax agency is preparing collective data requests. It means that the Italian authorities will ask and get the data of the Italian customers who have opened a foreign bank account. As pointed out by the Italian newspaper Il Sole 24 Ore, authorities "won’t stop to Switzerland only, due to the fact that the agreements signed in 2015 will offer new opportunities."
HNA Group, the giant Chinese hotel and tourism company, agreed to buy about 25% of Hilton Worldwide Holdings Inc from Blackstone Group LP for about US$6.5 billion. HNA, controlled by Chen Feng, will pay US$26.25 a share in cash, or 15 per cent more than Hilton's closing price on Friday. Under the deal, HNA cannot reduce its 25% stake over the next two years or increase it without Hilton's permission. The deal, which is expected to go through in early 2017, will cut Blackstone's share in Hilton to 21%. This latest move by HNA is part of the group's efforts to become a "global tourism business," said the company's chief executive Adam Tan. HNA announced in April that it had agreed to acquire Carlson Hotels, which owns the Radisson and Park Plaza brands.
The new business plan, "signed" by Marco Morelli and approved yesterday by the Board of Directors of MPS, expected net profit of 1.1 billion Euros to 2019. The board of directors scheduled November 24 an extraordinary shareholders' meeting to approve the capital increase up to a maximum of € 5 billion. The new business plan then tip a net profit of €1,1 billion in 2019. And at that time also, the MPS plan foresees revenues of 4.5 billion, operating costs to $ 2.46 billion and an operating profit of €1,5 billion. The operating model, the bank explains in a note, it will be renovated and will point to a strong focus on efficiency, with a cost / income ratio of 55% in 2019 and allocated to the commercial activities of a higher proportion of employees from the current 62% to 71%.
In this last period, I read on many financial web sites some warning comments about the potential and imminent starting of a bear market on the S&P 500. The main point that these sites show graphically, is the rising trend of the index from 2009 and the price break of a short term trend line togheter with a medium term oscillator reversing (graph 1, A and detail in B). Other websites point out a downside breakout of a short term simmetric triangle (graph 1, C).
Two years after two historic global agreements were established, leaders and other change agents in
Im September haben die Schweizer Stimmbürger die „Altersreform 2020“ des Bundesrates abgelehnt.
The 2017 symposium, with the theme "Successfully crossing borders", will have a strong focus on the
Dieser Event ist ausschliesslich für Pensionskassenvertreter (Stiftungsräte, CEOs, Anlageverantwor
Nach Jahren des geldpolitischen Experimentierens sind die Finanzmärkte so verzerrt wie selten zuvor
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