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...Based on the combined group’s headcount of 120,000 last year, the total number of job cuts would be 35,000....
...The Swiss executive, however, hit out at proposals from the Swiss finance department that would significantly increase the group’s capital requirements....
...The group said that changes in disclosure since late 2022 were intended to “provide more transparency into the nature of our AUM and flows”. Wöhrmann declined to comment through a lawyer....
Regulations stopping lenders growing allows US rivals to dominate, says CEO overseeing Credit Suisse takeover
...The chief of Germany’s largest military contractor Rheinmetall has urged European countries to ditch their preference for national champions and build bigger, more specialised defence groups to compete with...
One year on, the message from the market attack on Deutsche Bank is that nonsense on the internet matters
...California-based Silver Lake disclosed on Monday that it now owned 93 per cent of Software AG’s shares and planned to delist the group next year....
...The lender has come under scrutiny within Switzerland following its rescue of Credit Suisse, especially over the size of the combined group’s balance sheet — roughly twice the country’s gross domestic product...
...More than 16,000 staff left the combined group in 2023, with tens of thousands more jobs expected to go in the coming years as the bank focuses on hitting cost-reduction targets....
...On a forward price/earnings ratio Lufthansa, at 4.8 times, trails its pre-pandemic five-year average by about 30 per cent, as does British Airways owner International Airlines Group on 4.5 times on S&P Capital...
...The group had warned of a “slow start to the year” given the preparations to reduce production of older models and focus on 30 new models across its brands, almost all EVs....
...UBS has agreed to sell $8bn worth of loans to private capital group Apollo as part of a renegotiated deal to hive off a Credit Suisse business that securitised loans for assets such as yachts....
...Instead, the regulator in its report referenced anonymised companies “[Company A] Bank AG” and “[Company A] Capital (UK) Limited”....
...China’s Ant Group is bidding against Citadel Securities for Credit Suisse’s Chinese securities unit, a move that will test Beijing’s appetite for letting the Jack Ma-founded company expand again after a...
...“Volkswagen Group China’s e-offensive is taking effect,” said VW’s China head Ralf Brandstätter....
Swiss lender restores repurchase programme as it integrates Credit Suisse
...Effective crisis governance demands a dynamic and streamlined approach — reminiscent of military-style governance, where key decisions are swiftly made by a small group of leaders possessing the requisite...
...At the end of last year, activist investor Cevian Capital took a €1.2bn stake in the group, betting the bank could double its valuation in the next three to five years....
UBS donates 166 photographs to DC museum; Brussels fair fights VAT hike; merged galleries open first shows in Spain
...Siemens Energy AG: Shares in the German renewables-focused energy group climbed 12 per cent after it reported strong financial results and raised its outlook for 2024, with expected comparable revenue growth...
...Western pharma groups are seeking to diversify production for the US market away from Chinese contract manufacturers, in response to draft US legislation that would prevent some Chinese companies from receiving...
...The two parties are in talks about Křetínský’s EP Corporate Group taking a further 30 per cent stake, forming a joint venture, the group added on Friday....
...Adidas has claimed that demand for some of its shoes including the Gazelle and Samba models is so high it is delaying product launches to maintain the brand’s appeal as the German sportswear group reported...
...Some relief arrived for the group’s investors on Wednesday with better than expected first-half results. Yet commodity volatility means the sweet taste is unlikely to last long....
...Trainer aficionados have snapped up the first batch of Yeezy shoes sold by sportswear giant Adidas since the end of its ill-fated partnership with Kanye West, cutting the risk that the group will have to...
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